MENA: Mineral Wool Market 2024

Mineral Wool Market Size in MENA

In 2021, after two years of decline, there was growth in the MENA's mineral wool market, when its value increased by 1.7% to $X. In general, consumption enjoyed strong growth. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Mineral Wool Production in MENA

In value terms, mineral wool production skyrocketed to $X in 2021 estimated in export price. Overall, production continues to indicate strong growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Mineral Wool Exports

Exports in MENA

In 2021, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool exports skyrocketed to $X in 2021. Over the period under review, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which accounted for 77% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 15% share of total exports. The United Arab Emirates (X tons) and Iraq (X tons) held a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +24.8% from 2012 to 2021. At the same time, Iraq (+12,589.5%) and Saudi Arabia (+12.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing exporter exported in MENA, with a CAGR of +12,589.5% from 2012-2021. By contrast, the United Arab Emirates (-9.7%) illustrated a downward trend over the same period. Turkey (+40 p.p.) and Iraq (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by -3.5% and -32.4% from 2012 to 2021, respectively.

In value terms, Turkey ($X) emerged as the largest mineral wool supplier in MENA, comprising 59% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 26% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

In Turkey, mineral wool exports increased at an average annual rate of +14.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+13.4% per year) and the United Arab Emirates (-4.9% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, which is down by -24% against the previous year. In general, the export price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Iraq ($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 Arab Emirates (+5.3%), while the other leaders experienced mixed trends in the export price figures.

Mineral Wool Imports

Imports in MENA

In 2021, purchases abroad of slag wool, rock wool and similar mineral wools and mixtures was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 27%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, mineral wool imports reached $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 26% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Turkey (X tons), Israel (X tons), Morocco (X tons), Iraq (X tons), Saudi Arabia (X tons) and Qatar (X tons) represented roughly 78% of total imports in 2021. Kuwait (X tons), Algeria (X tons), Tunisia (X tons), Oman (X tons), Egypt (X tons) and Iran (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Kuwait (with a CAGR of +16.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 50% of total imports. Morocco, Qatar, Saudi Arabia, Kuwait, Iraq, Algeria, Iran, Oman, Egypt and Tunisia lagged somewhat behind, together accounting for a further 45%.

Kuwait, with a CAGR of +16.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, remaining constant against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 4.9% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform