Norway: Mineral Wool Market 2024

Mineral Wool Market Size in Norway

In 2021, after five years of growth, there was significant decline in the Norwegian mineral wool market, when its value decreased by -51.6% to $X. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Mineral Wool Production in Norway

In value terms, mineral wool production expanded markedly to $X in 2021 estimated in export price. In general, production recorded a notable expansion. The pace of growth was the most pronounced in 2015 with an increase of 15,588% against the previous year. Mineral wool production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Mineral Wool Exports

Exports from Norway

In 2021, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool exports soared to $X in 2021. In general, exports showed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for mineral wool exports from Norway, with a 47% share of total exports. Moreover, mineral wool exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+19.8% per year) and Lithuania (-2.8% per year).

In value terms, Sweden ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Norway, comprising 46% of total exports. The second position in the ranking was held by Finland ($X), with a 3.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+16.7% per year) and Lithuania (-6.7% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, dropping by -5.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2019 an increase of 8.5% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Sweden ($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 Finland (-2.5%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Norway

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures imported into Norway fell to X tons, with a decrease of -9.2% compared with the previous year. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, mineral wool imports amounted to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), Denmark (X tons) and Poland (X tons) were the main suppliers of mineral wool imports to Norway, together accounting for 83% of total imports. These countries were followed by Ukraine, Russia and the Netherlands, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +129.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and Poland ($X) appeared to be the largest mineral wool suppliers to Norway, with a combined 80% share of total imports. These countries were followed by Ukraine, the Netherlands and Russia, which together accounted for a further 10%.

Russia, with a CAGR of +122.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, increasing by 17% against the previous year. In general, the import price, however, showed a slight setback. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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