Mexico: Mineral Wool Market 2024

Mineral Wool Market Size in Mexico

After three years of growth, the Mexican mineral wool market decreased by -1% to $X in 2021. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then dropped modestly in the following year.

Mineral Wool Production in Mexico

In value terms, mineral wool production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 26%. Mineral wool production peaked at $X in 2015; afterwards, it flattened through to 2021.

Mineral Wool Exports

Exports from Mexico

In 2021, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -52.2% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports showed a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by 52%. The exports 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 dropped to $X in 2021. Overall, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 36% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for mineral wool exports from Mexico, with a 94% share of total exports. It was followed by Canada (X tons), with a 2.4% share of total exports. The third position in this ranking was held by the United Arab Emirates (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-16.0% per year) and the United Arab Emirates (+34.9% per year).

In value terms, the United States ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Mexico, comprising 95% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.9% share of total exports. It was followed by Canada, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+34.4% per year) and Canada (-17.0% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, increasing by 93% against the previous year. Over the period under review, the export price continues to indicate a modest increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Guatemala ($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 United States (+1.4%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Mexico

In 2021, supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -33.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -40.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 45% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, mineral wool imports contracted markedly to $X in 2021. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 80%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of mineral wool to Mexico, accounting for a 69% share of total imports. Moreover, mineral wool imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was taken by the Netherlands (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and the Netherlands (+6.9% per year).

In value terms, the largest mineral wool suppliers to Mexico were the United States ($X), Japan ($X) and the Netherlands ($X), with a combined 87% share of total imports.

Among the main suppliers, Japan, with a CAGR of +70.1%, recorded the highest growth rate of 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 average mineral wool import price stood at $X per ton in 2021, growing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2014 an increase of 47% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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