EU Mineral Wool Market Rose 3.5% to $2.6B - Global Trade Magazine
  May 17th, 2020 | Written by

EU Mineral Wool Market Rose 3.5% to $2.6B

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  • The most prominent rate of growth was recorded in 2017 when imports increased by 15% against the previous year.
  • From 2008 to 2018, the average annual rate of growth in terms of volume in Germany stood at +4.2%.
  • The revenue of the mineral wool market in the European Union rose to $2.6B in 2018, growing by 3.5%.

IndexBox has just published a new report: ‘EU – Slag Wool, Rock Wool And Similar Mineral Wools And Mixtures – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The revenue of the mineral wool market in the European Union rose to $2.6B in 2018, growing by 3.5% against the previous year. Overall, mineral wool consumption continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2011 when the market value increased by 11% against the previous year. The level of mineral wools consumption peaked at $2.9B in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Mineral Wool Consumption by Country

Germany (476M square meters) remains the largest mineral wool consuming country in the European Union, accounting for 21% of total volume. Moreover, mineral wool consumption in Germany exceeded the figures recorded by the second-largest consumer, France (228M square meters), twofold. The third position in this ranking was occupied by the Czech Republic (176M square meters), with a 7.8% share.

From 2008 to 2018, the average annual rate of growth in terms of volume in Germany stood at +4.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: France (-1.2% per year) and the Czech Republic (-2.9% per year).

In value terms, Germany ($601M) led the market, alone. The second position in the ranking was occupied by France ($266M). It was followed by the UK.

The countries with the highest levels of mineral wool per capita consumption in 2018 were Finland (17 square meters per person), the Czech Republic (16 square meters per person) and Austria (12 square meters per person).

From 2008 to 2018, the most notable rate of growth in terms of mineral wool per capita consumption, amongst the main consuming countries, was attained by Romania, while mineral wools per capita consumption for the other leaders experienced more modest paces of growth.

Imports in the EU

In 2018, EU imports reached 1.4B square meters, with an increase of 4.2% against the previous year. The total imports indicated remarkable growth from 2008 to 2018: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, mineral wools imports increased by +42.9% against 2011 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 15% against the previous year. Over the period under review, mineral wools imports reached their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, mineral wool imports rose to $1.5B (IndexBox estimates) in 2018. The total import value increased at an average annual rate of +3.1% from 2008 to 2018.

Imports by Country

The total purchases of the twelve major importers of slag wool, rock wool and similar mineral wools and mixtures, namely Italy, Germany, France, Poland, Austria, Romania, Sweden, the Czech Republic, Belgium, Finland, the Netherlands and Estonia, represented more than two-thirds of total import.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Finland, while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($237M), France ($165M) and Italy ($139M) appeared to be the countries with the highest levels of imports in 2018, with a combined 35% share of total imports. These countries were followed by Poland, Austria, Belgium, Sweden, the Czech Republic, Romania, Finland, the Netherlands and Estonia, which together accounted for a further 41%.

In terms of the main importing countries, Finland experienced the highest rates of growth with regard to the value of imports, over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

The mineral wool import price in the European Union stood at $1.1 per square meter in 2018, surging by 10% against the previous year. Overall, the mineral wools import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the import price increased by 10% year-to-year. In that year, the import prices for slag wool, rock wool and similar mineral wools and mixtures reached their peak level of $1.2 per square meter. From 2012 to 2018, the growth in terms of the import prices for slag wool, rock wool and similar mineral wools and mixtures failed to regain its momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Belgium ($1.4 per square meter), while Austria ($0.8 per square meter) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Belgium, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform