Australia: Mineral Wool Market 2024

Mineral Wool Market Size in Australia

In 2021, the Australian mineral wool market increased by 38% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Mineral Wool Exports

Exports from Australia

For the third consecutive year, Australia recorded decline in overseas shipments of slag wool, rock wool and similar mineral wools and mixtures, which decreased by -70.9% to X tons in 2021. In general, exports saw a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of 196%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mineral wool exports shrank remarkably to $X in 2021. Over the period under review, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 70% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons), Taiwan (Chinese) (X tons) and Papua New Guinea (X tons) were the main destinations of mineral wool exports from Australia, with a combined 72% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +19.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), New Zealand ($X) and Papua New Guinea ($X) were the largest markets for mineral wool exported from Australia worldwide, with a combined 67% share of total exports. These countries were followed by New Caledonia, China, the Philippines and Singapore, which together accounted for a further 31%.

New Caledonia, with a CAGR of +23.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, the export price posted a prominent expansion. The pace of growth was the most pronounced in 2017 an increase of 68%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Caledonia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Australia

In 2021, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures were finally on the rise to reach X tons after five years of decline. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 45% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, mineral wool imports soared to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Slovenia (X tons) and Malaysia (X tons) were the main suppliers of mineral wool imports to Australia, with a combined 68% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +116.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool suppliers to Australia were China ($X), Slovenia ($X) and Malaysia ($X), with a combined 63% share of total imports.

Slovenia, with a CAGR of +124.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2021, increasing by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2017 an increase of 19%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Czech Republic ($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 Netherlands (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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