Russian Federation: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in the Russian Federation

The Russian glass fibres and wool market dropped modestly to $X in 2022, reducing by -2.2% against the previous year. In general, consumption showed a relatively flat trend pattern. Glass fibres and wool consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Glass Fibres And Glass Wool in the Russian Federation

In value terms, glass fibres and wool production reduced slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from the Russian Federation

In 2022, approx. X tons of glass fibres and glass wool were exported from Russia; reducing by -1.9% on the year before. In general, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, glass fibres and wool exports reduced to $X in 2022. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Germany (X tons), Kazakhstan (X tons) and Uzbekistan (X tons) were the main destinations of glass fibres and wool exports from Russia, together comprising 63% of total exports. Ukraine, Belgium, Kyrgyzstan, Italy, Poland, the United States, Japan, Hungary, Serbia and Belarus lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +154.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for glass fibres and glass wool exports from Russia, comprising 39% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 12% share of total exports. It was followed by Uzbekistan, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+5.7% per year) and Uzbekistan (+78.1% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, falling by -12.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 50%. The export price peaked at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into the Russian Federation

After two years of growth, overseas purchases of glass fibres and glass wool decreased by -3.9% to X tons in 2022. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports contracted to $X in 2022. Overall, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibres and wool supplier to Russia, accounting for a 59% share of total imports. Moreover, glass fibres and wool imports from China exceeded the figures recorded by the second-largest supplier, Belarus (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+41.3% per year) and Germany (-1.9% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Russia, comprising 38% of total imports. The second position in the ranking was held by France ($X), with an 8.4% share of total imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+31.0% per year) and Germany (-2.3% per year).

Import Prices by Country

The average glass fibres and wool import price stood at $X per ton in 2022, dropping by -7.5% against the previous year. Overall, the import price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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