Middle East: Mineral Wool Market 2024

Mineral Wool Market Size in the Middle East

In 2021, the Middle Eastern mineral wool market increased by 2.4% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption enjoyed resilient growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Mineral Wool Production in the Middle East

In value terms, mineral wool production surged to $X in 2021 estimated in export price. Overall, production recorded strong growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 63%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Mineral Wool Exports

Exports in the Middle East

In 2021, after two years of decline, there was significant growth in overseas shipments of slag wool, rock wool and similar mineral wools and mixtures, when their volume increased by 151% to X tons. In general, exports recorded a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool exports soared to $X in 2021. Over the period under review, exports continue to indicate prominent growth. 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 exporter of slag wool, rock wool and similar mineral wools and mixtures in the Middle East, with the volume of exports amounting to X tons, which was approx. 78% of total exports in 2021. 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) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to mineral wool exports from Turkey stood at +24.8%. 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 the Middle East, 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. From 2012 to 2021, the share of Turkey and Iraq increased by +39 and +2.3 percentage points, respectively.

In value terms, Turkey ($X) emerged as the largest mineral wool supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 27% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +14.8%. 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 the Middle East stood at $X per ton in 2021, shrinking by -24.5% against the previous year. Overall, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained 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 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 the Middle East

In 2021, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures were finally on the rise to reach X tons after two years of decline. In general, imports, however, saw a slight setback. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports rose slightly to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of slag wool, rock wool and similar mineral wools and mixtures, namely the United Arab Emirates, Turkey and Israel, represented more than half of total import. Iraq (X tons) took an 8.6% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (8%), Qatar (7.9%) and Kuwait (5.1%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key 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 largest mineral wool importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), with a combined 62% share of total imports. These countries were followed by Qatar, Saudi Arabia, Kuwait and Iraq, which together accounted for a further 26%.

Kuwait, with a CAGR of +16.7%, saw the highest rates of growth with regard to 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

The import price in the Middle East stood at $X per ton in 2021, standing approx. at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 when the import price increased by 7% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 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 Turkey ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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