Belgium: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Belgium

After five years of growth, the Belgian glass fibres and wool market decreased by -8% to $X in 2022. Overall, consumption, however, showed strong growth. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Production of Glass Fibres And Glass Wool in Belgium

In value terms, glass fibres and wool production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Glass fibres and wool production peaked at $X in 2021, and then reduced in the following year.

Exports of Glass Fibres And Glass Wool

Exports from Belgium

In 2022, overseas shipments of glass fibres and glass wool increased by 0.1% to X tons, rising for the second year in a row after three years of decline. Overall, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 59%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports shrank modestly to $X in 2022. Over the period under review, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 41%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

France (X tons) was the main destination for glass fibres and wool exports from Belgium, with a 65% share of total exports. Moreover, glass fibres and wool exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), sixfold. The third position in this ranking was taken by the UK (X tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume to France amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+25.2% per year) and the UK (+2.3% per year).

In value terms, France ($X) remains the key foreign market for glass fibres and glass wool exports from Belgium, comprising 57% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total exports. It was followed by the UK, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+18.4% per year) and the UK (-6.4% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, which is down by -3.9% against the previous year. Over the period under review, the export price continues to indicate a pronounced slump. The growth pace was the most rapid in 2021 when the average export price increased by 8.5% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to the UK ($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 Spain (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibres And Glass Wool

Imports into Belgium

In 2022, approx. X tons of glass fibres and glass wool were imported into Belgium; with an increase of 18% on 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 93% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass fibres and wool imports contracted to $X in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.6% against 2017 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 24%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of glass fibres and wool to Belgium, accounting for a 43% share of total imports. Moreover, glass fibres and wool imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from France stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-10.3% per year) and Spain (+56.2% per year).

In value terms, the largest glass fibres and wool suppliers to Belgium were France ($X), the Netherlands ($X) and Germany ($X), together accounting for 54% of total imports. The United States, Spain, China, Denmark and Russia lagged somewhat behind, together comprising a further 25%.

Russia, with a CAGR of +123.4%, recorded the highest rates of growth with regard to the value of imports, among 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 glass fibres and wool import price stood at $X per ton in 2022, falling by -22.7% against the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the average import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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