Central Asia: Mineral Wool Market 2024

Mineral Wool Market Size in Central Asia

The Central Asian mineral wool market rose significantly to $X in 2021, picking up by 12% against the previous year. Over the period under review, consumption recorded prominent growth. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Mineral Wool Production in Central Asia

In value terms, mineral wool production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded buoyant growth. The growth pace was the most rapid in 2019 with an increase of 67%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Mineral Wool Exports

Exports in Central Asia

After six years of growth, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -15.3% to X tons in 2021. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 150%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then declined markedly in the following year.

In value terms, mineral wool exports surged to $X in 2021. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 145%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The shipments of the one major exporters of slag wool, rock wool and similar mineral wools and mixtures, namely Kazakhstan, represented more than two-thirds of total export.

Kazakhstan was also the fastest-growing in terms of the slag wool, rock wool and similar mineral wools and mixtures exports, with a CAGR of +20.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest mineral wool supplier in Central Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Kazakhstan stood at +24.1%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, rising by 67% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool export price increased by +80.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +3.0% per year.

Mineral Wool Imports

Imports in Central Asia

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures imported in Central Asia rose remarkably to X tons, increasing by 11% against the previous year's figure. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 63%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, mineral wool imports skyrocketed to $X in 2021. Total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +105.1% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 34%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Kazakhstan was the key importer of slag wool, rock wool and similar mineral wools and mixtures in Central Asia, with the volume of imports resulting at X tons, which was approx. 74% of total imports in 2021. Uzbekistan (X tons) held the second position in the ranking, followed by Kyrgyzstan (X tons). All these countries together took near 23% share of total imports. Mongolia (X tons) followed a long way behind the leaders.

Imports into Kazakhstan increased at an average annual rate of +11.1% from 2012 to 2021. At the same time, Uzbekistan (+55.6%) and Kyrgyzstan (+52.2%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +55.6% from 2012-2021. By contrast, Mongolia (-7.1%) illustrated a downward trend over the same period. Uzbekistan (+13 p.p.) and Kyrgyzstan (+9.1 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan and Mongolia saw its share reduced by -4% and -6.5% from 2012 to 2021, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported slag wool, rock wool and similar mineral wools and mixtures in Central Asia, comprising 70% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 17% share of total imports. It was followed by Kyrgyzstan, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +3.5%. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+47.9% per year) and Kyrgyzstan (+38.1% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, surging by 12% against the previous year. Overall, the import price, however, saw a abrupt slump. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mongolia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+12.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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