Belarus: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Belarus

The Belarusian glass fibres and wool market surged to $X in 2022, increasing by 20% against the previous year. Over the period under review, consumption, however, showed a noticeable curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Glass Fibres And Glass Wool in Belarus

In value terms, glass fibres and wool production rose significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 31% against the previous year. Glass fibres and wool production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Glass Fibres And Glass Wool

Exports from Belarus

In 2022, shipments abroad of glass fibres and glass wool decreased by -18.1% to X tons for the first time since 2013, thus ending a eight-year rising trend. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 110% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, glass fibres and wool exports fell dramatically to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 84% against the previous year. The exports peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Russia (X tons) was the main destination for glass fibres and wool exports from Belarus, with a 55% share of total exports. Moreover, glass fibres and wool exports to Russia exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was held by Italy (X tons), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.3% per year) and Italy (+50.3% per year).

In value terms, Russia ($X) remains the key foreign market for glass fibres and glass wool exports from Belarus, comprising 55% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Italy, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+27.4% per year) and Italy (+67.6% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, with a decrease of -3.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 32%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Belarus

Glass fibres and wool imports into Belarus surged to X tons in 2022, picking up by 47% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 78% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 41%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Russia (X tons) and India (X tons) were the main suppliers of glass fibres and wool imports to Belarus, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), China ($X) and India ($X) were the largest glass fibres and wool suppliers to Belarus, with a combined 71% share of total imports.

Among the main suppliers, India, with a CAGR of +43.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibres and wool import price stood at $X per ton in 2022, dropping by -18.8% against the previous year. Overall, the import price continues to indicate a pronounced slump. The growth pace was the most rapid in 2019 an increase of 46%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :