Chile: Mineral Wool Market 2024

Mineral Wool Market Size in Chile

For the third year in a row, the Chilean mineral wool market recorded decline in sales value, which decreased by -16.8% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Mineral Wool Exports

Exports from Chile

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures exported from Chile soared to X tons, increasing by 159% against 2020 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 322%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mineral wool exports soared to $X in 2021. Overall, exports, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 296%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for mineral wool exports from Chile, accounting for a 80% share of total exports. Moreover, mineral wool exports to Argentina exceeded the volume sent to the second major destination, Ecuador (X tons), sevenfold. The third position in this ranking was held by Peru (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+47.6% per year) and Peru (-19.6% per year).

In value terms, Argentina ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Chile, comprising 77% of total exports. The second position in the ranking was taken by Ecuador ($X), with an 11% share of total exports. It was followed by Peru, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+28.5% per year) and Peru (-16.9% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, with a decrease of -11.3% against the previous year. Overall, the export price recorded a slight reduction. The growth pace was the most rapid in 2014 when the average export price increased by 23% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, 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 Bolivia ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+3.4%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Chile

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures imported into Chile fell rapidly to X tons, dropping by -21.3% compared with the previous year's figure. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 38%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mineral wool imports declined to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 34% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest mineral wool supplier to Chile, accounting for a 42% share of total imports. Moreover, mineral wool imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Slovenia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.0% per year) and Slovenia (-1.2% per year).

In value terms, the largest mineral wool suppliers to Chile were China ($X), the Netherlands ($X) and Germany ($X), with a combined 68% share of total imports. Slovenia, Argentina, Spain, Colombia, the United States and Portugal lagged somewhat behind, together comprising a further 26%.

Argentina, with a CAGR of +173.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, jumping by 19% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Portugal ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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