Belgium: Insulating Board Market 2024

Insulating Board Market Size in Belgium

The Belgian insulating board market rose sharply to $X in 2022, surging by 9.6% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Insulating Board Production in Belgium

In value terms, insulating board production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 119% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Insulating Board Exports

Exports from Belgium

For the fourth year in a row, Belgium recorded growth in overseas shipments of insulating board, which increased by 21% to X cubic meters in 2022. Over the period under review, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 85%. Over the period under review, the exports attained the peak figure at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, insulating board exports skyrocketed to $X in 2022. Overall, exports saw a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 170% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

France (X cubic meters), the Netherlands (X cubic meters) and Luxembourg (X cubic meters) were the main destinations of insulating board exports from Belgium, together comprising 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +16.1%), while the other leaders experienced mixed trend patterns.

In value terms, France ($X), the Netherlands ($X) and Luxembourg ($X) appeared to be the largest markets for insulating board exported from Belgium worldwide, with a combined 73% share of total exports.

Among the main countries of destination, Luxembourg, with a CAGR of +15.7%, saw 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 2022, the average insulating board export price amounted to $X per cubic meter, growing by 11% against the previous year. Over the period under review, the export price saw a strong increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 54% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Luxembourg ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Insulating Board Imports

Imports into Belgium

In 2022, the amount of insulating board imported into Belgium expanded markedly to X cubic meters, picking up by 9.7% against 2021 figures. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, insulating board imports shrank significantly to $X in 2022. In general, imports showed buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 75%. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

In 2022, the Netherlands (X cubic meters) constituted the largest supplier of insulating board to Belgium, accounting for a 55% share of total imports. Moreover, insulating board imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), twofold. The third position in this ranking was taken by France (X cubic meters), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and France (+12.4% per year).

In value terms, Germany ($X) constituted the largest supplier of insulating board to Belgium, comprising 51% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.3% per year) and France (+11.2% per year).

Import Prices by Country

In 2022, the average insulating board import price amounted to $X per cubic meter, declining by -24.6% against the previous year. In general, the import price showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2020 when the average import price increased by 33%. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Ireland ($X per cubic meter), while the price for the Netherlands ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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