CIS: Mineral Wool Market 2024

Mineral Wool Market Size in CIS

In 2021, the CIS mineral wool market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a mild reduction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Mineral Wool Production in CIS

In value terms, mineral wool production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a slight curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 28%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Mineral Wool Exports

Exports in CIS

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were exported in the CIS; waning by -10.4% against the previous year's figure. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 38%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports soared to $X in 2021. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 51% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Russia represented the key exporter of slag wool, rock wool and similar mineral wools and mixtures in the CIS, with the volume of exports resulting at X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Belarus (X tons), creating a 10% share of total exports. Kazakhstan (X tons) took a relatively small share of total exports.

Exports from Russia increased at an average annual rate of +14.4% from 2012 to 2021. At the same time, Kazakhstan (+20.5%) and Belarus (+3.4%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +20.5% from 2012-2021. While the share of Russia (+10 p.p.) and Kazakhstan (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belarus (-12.1 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest mineral wool supplier in the CIS, comprising 86% of total exports. The second position in the ranking was held by Belarus ($X), with an 8.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +8.7%. In the other countries, the average annual rates were as follows: Belarus (-0.7% per year) and Kazakhstan (+24.1% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, with an increase of 41% against the previous year. Overall, the export price, however, showed a perceptible reduction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+3.0%), while the other leaders experienced a decline in the export price figures.

Mineral Wool Imports

Imports in CIS

In 2021, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures decreased by -0.3% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 39%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. Over the period under review, imports showed a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 28%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Kazakhstan (X tons) represented the largest importer of slag wool, rock wool and similar mineral wools and mixtures, achieving 42% of total imports. Belarus (X tons) took the second position in the ranking, distantly followed by Russia (X tons), Uzbekistan (X tons), Kyrgyzstan (X tons) and Moldova (X tons). All these countries together took approx. 52% share of total imports. Azerbaijan (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +55.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool importing markets in the CIS were Kazakhstan ($X), Belarus ($X) and Russia ($X), together accounting for 72% of total imports. These countries were followed by Uzbekistan, Azerbaijan, Moldova and Kyrgyzstan, which together accounted for a further 25%.

Among the main importing countries, Uzbekistan, with a CAGR of +47.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, picking up by 24% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Azerbaijan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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