Northern America: Mineral Wool Market 2024

Mineral Wool Market Size in Northern America

The North American mineral wool market totaled $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Production in Northern America

In value terms, mineral wool production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 10% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Exports

Exports in Northern America

In 2021, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -14.8% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 21%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada prevails in exports structure, accounting for X tons, which was approx. 91% of total exports in 2021. It was distantly followed by the United States (X tons), mixing up a 9.2% share of total exports.

Canada was also the fastest-growing in terms of the slag wool, rock wool and similar mineral wools and mixtures exports, with a CAGR of +2.5% from 2012 to 2021. The United States (-20.7%) illustrated a downward trend over the same period. Canada (+41 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -41.3% from 2012 to 2021, respectively.

In value terms, the largest mineral wool supplying countries in Northern America were the United States ($X) and Canada ($X).

The United States, with a CAGR of +3.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, picking up by 34% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 54%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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 States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+30.9%).

Mineral Wool Imports

Imports in Northern America

In 2021, purchases abroad of slag wool, rock wool and similar mineral wools and mixtures was finally on the rise to reach X tons after two years of decline. Overall, imports saw a measured expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 36%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 -8.8% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United States represented the key importer of slag wool, rock wool and similar mineral wools and mixtures in Northern America, with the volume of imports amounting to X tons, which was near 71% of total imports in 2021. It was distantly followed by Canada (X tons), generating a 29% share of total imports.

Imports into the United States increased at an average annual rate of +3.4% from 2012 to 2021. At the same time, Canada (+4.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.2% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported slag wool, rock wool and similar mineral wools and mixtures in Northern America, comprising 72% of total imports. The second position in the ranking was held by Canada ($X), with a 27% share of total imports.

In the United States, mineral wool imports increased at an average annual rate of +4.1% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, the import price continues to indicate a slight expansion. The pace of growth was the most pronounced in 2019 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.2%).

Source: IndexBox Platform

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