Asbestos Market Report 2025

This Asbestos market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The asbestos market size has grown strongly in recent years. It will grow from $1.15 billion in 2024 to $1.27 billion in 2025 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to the industrialization boom, military applications, construction and building industry growth, mining and export boom, and automotive industry adoption.

The asbestos market size is expected to see strong growth in the next few years. It will grow to $1.82 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to regulatory bans and restrictions, rising awareness of health risks, advancements in asbestos alternatives, global economic trends, legal litigation and compensation. Major trends in the forecast period include substitution with safer alternatives, the emergence of green building practices, regional shifts in production and consumption, technological innovations in abatement and removal, and investment in asbestos waste management.

The growth in the asbestos market stems from heightened demand due to mining expansions, technological advancements, and emerging markets. For instance, in 2022, as per the International Trade Administration, mining constituted nearly 10% of Australia's total GDP in 2020, showcasing its significant role in the economy. Additionally, data from the British Geological Survey indicates a global rise of over 5% in the production of minerals like potash and bauxite in 2020 compared to the prior year.

Anticipated growth in the asbestos market is closely tied to the upsurge in residential construction. Asbestos, prized for its heat and flame resistance, has historically been a preferred material in construction, particularly in roofing, insulation, and fireproofing. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported a 1% increase in completed housing units in January 2023, signifying a potential uptick in demand, given asbestos's historical use in such constructions.

Leading companies in the asbestos market are increasingly focusing on developing professional asbestos analysis services to accurately test and identify materials containing asbestos, thereby ensuring compliance with safety regulations and safeguarding public health during construction and renovation projects. These professional analysis services involve specialized testing and evaluation methods to detect and quantify asbestos presence in various materials. For instance, in August 2024, Benjel, a US-based company, introduced its Professional Asbestos Analysis Services, offering comprehensive testing solutions for businesses and homeowners. This initiative helps effectively manage asbestos risks and ensures safe environments during renovation and demolition activities. Ultimately, it aims to elevate safety standards and support adherence to health regulations, thus protecting public health and well-being.

Key players in the asbestos market are strategically focusing on introducing DustBoss misting cannons to gain a competitive edge. These specialized machines are pivotal in dust control across industrial and construction sectors. For instance, in June 2023, a U.S.-based asbestos remediation and demolition firm integrated DustBoss misting cannons during structure demolition, particularly in asbestos-containing structures. This technology efficiently suppresses dust and airborne particles, ensuring worker safety and mitigating environmental impact during demolition activities.

In June 2023, WSP Global Inc., a Canadian professional services firm, completed the acquisition of Calibre Professional Services One Pty Ltd., an Australian-based company, for an undisclosed sum. This acquisition bolsters WSP's standing as a premier service provider throughout the entire life cycle of mining assets. It is projected to notably expand WSP's footprint in Western Australia and reinforce its position within the mining industry. Additionally, this move aims to enhance WSP's Earth and Environment capabilities. Calibre Professional Services One Pty Ltd specializes in construction and mining operations, including expertise in asbestos-related services.

Asbestos extraction involves the mining of this mineral, utilized in various applications like electrical insulation for hotplate wiring and building insulation. When leveraging asbestos for its fire or heat resistance, its fibers are commonly blended with cement or woven into fabrics or mats.

The primary asbestos types encompass metallurgical forging, furnace casting, welding, cutting, and glass production. Glass manufacturing facilities produce a range of glass types such as flat, container, pressed, blown, or fiberglass by melting raw materials to create molten glass, shaping it into sheets, containers, fibers, or other desired forms. These facilities rely on one or more continuous glass melting furnaces for glass production. Technologies like closed die, open die, and others are integral in industries such as automotive, mechanical equipment, aerospace, railways, and various end-user sectors. Mining methods encompass both underground and surface techniques.

The asbestos market research report is one of a series of new reports that provides asbestos market statistics, including asbestos industry, regional shares, competitors with a asbestos market share, detailed asbestos market segments, market trends and opportunities, and any further data you may need to thrive in the asbestos industry. This asbestos global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Major companies operating in the asbestos market include Abex Corporation, Allied Signal Inc., Allis-Chalmers Corporation, Amchem Inc., American Standard Inc., Armstrong World Industries, Babcock & Wilcox, Bestwall LLC, Bondex International Inc., Celotex Corporation, CertainTeed Corporation, Combustion Engineering, Dana Corporation, Eagle-Picher Industries, Federal Mogul, Flexitallic Gasket Company, Garlock Sealing Technologies, General Electric Company, General Motors, H.K. Porter Company, Johns-Manville Corporation, Kaiser Gypsum Company Inc., National Gypsum Company, Owens Corning, Pittsburgh Corning, Quigley Company, Raybestos Industries, United States Gypsum Corporation, W.R. Grace & Co.

Asia-Pacific was the largest region in the asbestos market in 2024.The regions covered in the asbestos market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in the asbestos market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The asbestos market includes revenues earned by entities by providing mining services for asbestos mines such as amosite, crocidolite, or anthophyllite types. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.