Russian Federation: Mineral Wool Market 2024

Mineral Wool Market Size in the Russian Federation

In 2021, the Russian mineral wool market increased by 15% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a pronounced contraction. Mineral wool consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Mineral Wool Production in the Russian Federation

In value terms, mineral wool production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild downturn. The growth pace was the most rapid in 2018 when the production volume increased by 30%. Mineral wool production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Mineral Wool Exports

Exports from the Russian Federation

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures exported from Russia shrank to X tons, waning by -9% against 2020. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 65% against the previous year. Over the period under review, the exports reached the maximum 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. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Kazakhstan (X tons) was the main destination for mineral wool exports from Russia, with a 37% share of total exports. Moreover, mineral wool exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X tons), twofold. The third position in this ranking was held by Finland (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+11.9% per year) and Finland (+11.9% per year).

In value terms, Kazakhstan ($X), Belarus ($X) and Bangladesh ($X) were the largest markets for mineral wool exported from Russia worldwide, together comprising 64% of total exports.

In terms of the main countries of destination, Bangladesh, with a CAGR of +153.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, increasing by 42% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The export price peaked at $X per ton in 2012; however, from 2013 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 Bangladesh ($X per ton), while the average price for exports to Lithuania ($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 Bangladesh (+51.0%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into the Russian Federation

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures imported into Russia amounted to X tons, growing by 5.2% compared with the previous year's figure. Overall, imports, however, recorded a deep setback. The growth pace was the most rapid in 2019 when imports increased by 71% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. In general, imports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2019 when imports increased by 74%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan (X tons), Belarus (X tons) and Lithuania (X tons) were the main suppliers of mineral wool imports to Russia, together accounting for 72% of total imports. Poland, Turkey, the Netherlands, China, Ukraine and Finland lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +126.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Lithuania ($X) and Belarus ($X) appeared to be the largest mineral wool suppliers to Russia, with a combined 49% share of total imports. Poland, the Netherlands, China, Turkey, Finland and Ukraine lagged somewhat behind, together accounting for a further 37%.

Among the main suppliers, Turkey, with a CAGR of +96.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, picking up by 15% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool import price decreased by -26.2% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 42% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :