ASEAN: Mineral Wool Market 2024

Mineral Wool Market Size in ASEAN

The ASEAN mineral wool market reached $X in 2021, flattening at the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.6% against 2019 indices. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Production in ASEAN

In value terms, mineral wool production rose slightly to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Exports

Exports in ASEAN

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures exported in ASEAN surged to X tons, jumping by 15% against the previous year. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 25%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, mineral wool exports surged to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +73.0% against 2016 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2021, Malaysia (X tons) was the major exporter of slag wool, rock wool and similar mineral wools and mixtures, comprising 46% of total exports. The Philippines (X tons) ranks second in terms of the total exports with a 27% share, followed by Indonesia (14%) and Thailand (10%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +353.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool supplying countries in ASEAN were the Philippines ($X), Malaysia ($X) and Indonesia ($X), together comprising 85% of total exports.

In terms of the main exporting countries, the Philippines, with a CAGR of +252.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, growing by 3.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 14% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.0%), while the other leaders experienced a decline in the export price figures.

Mineral Wool Imports

Imports in ASEAN

In 2021, imports of slag wool, rock wool and similar mineral wools and mixtures in ASEAN was estimated at X tons, remaining stable against 2020 figures. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, mineral wool imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 21%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Singapore (X tons) represented roughly 66% of total imports in 2021. Malaysia (X tons) ranks next in terms of the total imports with a 10% share, followed by Thailand (8.6%) and the Philippines (8.4%). Cambodia (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +61.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, together comprising 63% of total imports. Malaysia, Singapore, the Philippines and Cambodia lagged somewhat behind, together comprising a further 36%.

Cambodia, with a CAGR of +67.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, with an increase of 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 an increase of 15%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform