Canada: Mineral Wool Market 2024

Mineral Wool Market Size in Canada

The Canadian mineral wool market soared to $X in 2021, growing by 18% against the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.6% against 2019 indices. Mineral wool consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Mineral Wool Production in Canada

In value terms, mineral wool production stood at $X in 2021 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43% against the previous year. Mineral wool production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Mineral Wool Exports

Exports from Canada

In 2021, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures decreased by -13.8% to X tons, falling for the third year in a row after three years of growth. In general, total exports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -35.1% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports declined to $X in 2021. The total export value increased at an average annual rate of +2.6% 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 2013 with an increase of 29%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for mineral wool exports from Canada, accounting for a approx. 98% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +2.6%.

In value terms, the United States ($X) also remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Canada.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +2.8%.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 20%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; afterwards, it flattened through to 2021.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +0.2% per year.

Mineral Wool Imports

Imports into Canada

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 two years of decline. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 47% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of mineral wool to Canada, accounting for a 84% share of total imports. Moreover, mineral wool imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was held by Poland (X tons), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.8% per year) and Poland (+80.8% per year).

In value terms, the United States ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Canada, comprising 76% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.7% share of total imports. It was followed by Poland, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.6% per year) and Poland (+74.7% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, with an increase of 14% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2019 an increase of 32%. The import price peaked in 2021 and is expected to retain growth in years to come.

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 the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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