Portugal: Mineral Wool Market 2024

Mineral Wool Market Size in Portugal

The Portuguese mineral wool market rose rapidly to $X in 2021, growing by 13% against the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Mineral wool consumption peaked in 2021 and is likely to continue growth in the near future.

Mineral Wool Production in Portugal

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 +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25% against the previous year. Mineral wool production peaked at $X in 2020, and then contracted in the following year.

Mineral Wool Exports

Exports from Portugal

In 2021, overseas shipments 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. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 28% 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 remained at a lower figure.

In value terms, mineral wool exports soared to $X in 2021. The total export value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for mineral wool exports from Portugal, with a 66% share of total exports. Moreover, mineral wool exports to France exceeded the volume sent to the second major destination, Spain (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to France amounted to +3.6%.

In value terms, France ($X) and Spain ($X) were the largest markets for mineral wool exported from Portugal worldwide.

Among the main countries of destination, Spain, with a CAGR of +13.4%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, with an increase of 6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2013 when the average export price increased by 15% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to France amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Mineral Wool Imports

Imports into Portugal

In 2021, imports of slag wool, rock wool and similar mineral wools and mixtures into Portugal soared to X tons, with an increase of 122% compared with the previous year. In general, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, mineral wool imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) was the main mineral wool supplier to Portugal, with a 92% share of total imports. Moreover, mineral wool imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+28.8% per year) and Germany (-13.7% per year).

In value terms, Spain ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Portugal, comprising 83% of total imports. The second position in the ranking was held by France ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+29.2% per year) and Germany (-18.3% per year).

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2021, which is down by -3.7% against the previous year. Over the period under review, the import price recorded a perceptible setback. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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