Ireland: Mineral Wool Market 2024

Mineral Wool Market Size in Ireland

The Irish mineral wool market surged to $X in 2021, increasing by 69% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Mineral Wool Exports

Exports from Ireland

In 2021, after three years of growth, there was significant decline in overseas shipments of slag wool, rock wool and similar mineral wools and mixtures, when their volume decreased by -27.5% to X tons. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 19,877%. The exports peaked at X tons in 2020, and then fell rapidly in the following year.

In value terms, mineral wool exports expanded sharply to $X in 2021. Overall, exports, however, recorded a significant increase. The growth pace was the most rapid in 2013 when exports increased by 35,409%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Sweden (X tons) and the UK (X tons) were the main destinations of mineral wool exports from Ireland, together accounting for 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +580.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and Sweden ($X) were the largest markets for mineral wool exported from Ireland worldwide, with a combined 91% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +449.6%, recorded the highest rates of growth with regard to 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

The average mineral wool export price stood at $X per ton in 2021, jumping by 51% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 87% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Germany ($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 the Netherlands (+80.1%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Ireland

In 2021, mineral wool imports into Ireland skyrocketed to X tons, jumping by 59% compared with the previous year's figure. Overall, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool imports skyrocketed to $X in 2021. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of mineral wool to Ireland, accounting for a 85% share of total imports. Moreover, mineral wool imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by Turkey (X tons), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.9% per year) and Turkey (+105.8% per year).

In value terms, the UK ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Ireland, comprising 86% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.3% share of total imports. It was followed by Poland, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.4% per year) and Poland (+2.5% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, leveling off at the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool import price increased by +75.7% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 27%. The import price peaked at $X per ton in 2020, and then shrank slightly in the following year.

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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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