The present invention relates to a process for manufacturing an insulating product based on mineral or organic fibers, comprising - the application of an aqueous binder composition to mineral or organic fibers, preferably mineral wool fibers, - the heating the fibers sized with the aqueous binder composition so as to evaporate the volatile phase of the aqueous binder composition and to achieve thermal hardening of the non-volatile residue, or the packaging of the mineral or organic fibers sized with the aqueous binder composition for storage and / or transport, the aqueous binder composition exhibiting a pH of between 1.0 and 6.5, preferably between 1.5 and 5.0, and comprising: (a) at least one carbohydrate selected from hydrogenated sugars, reducing sugars, non-reducing sugars and mixtures thereof, (b) at least one polycarboxylic acid or an anhydride of such an acid, (c) from 1 to 35% by weight, reported to the total weight of the components ants (a), (b), and (c), a water-soluble phenolic amine resin consisting essentially of phenol-formaldehyde condensates and phenol-formaldehyde-amine condensates.
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