SADC: Mineral Wool Market 2024

Mineral Wool Market Size in SADC

After nine years of growth, the SADC mineral wool market decreased by -4% to $X in 2021. Over the period under review, consumption continues to indicate resilient growth. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Mineral Wool Production in SADC

In value terms, mineral wool production fell modestly to $X in 2021 estimated in export price. In general, production saw a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 66% against the previous year. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Mineral Wool Exports

Exports in SADC

In 2021, the amount of slag wool, rock wool and similar mineral wools and mixtures exported in SADC surged to X tons, growing by 36% against the previous year's figure. In general, exports, however, showed a deep reduction. The growth pace was the most rapid in 2019 when exports increased by 91%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, South Africa (X tons) represented the largest exporter of slag wool, rock wool and similar mineral wools and mixtures, constituting 82% of total exports. It was distantly followed by Zambia (X tons), constituting a 16% share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of slag wool, rock wool and similar mineral wools and mixtures. At the same time, Zambia (+35.8%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +35.8% from 2012-2021. From 2012 to 2021, the share of South Africa and Zambia increased by +37 and +15 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest mineral wool supplier in SADC, comprising 99% of total exports. The second position in the ranking was held by Zambia ($X), with a 0.2% share of total exports.

In South Africa, mineral wool exports decreased by an average annual rate of -14.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, jumping by 28% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 76%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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 South Africa ($X per ton), while Zambia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-14.5%).

Mineral Wool Imports

Imports in SADC

In 2021, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures increased by 16% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, imports, however, recorded a noticeable curtailment. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. In general, imports, however, saw a slight slump. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa dominates imports structure, finishing at X tons, which was near 73% of total imports in 2021. Tanzania (X tons) took a 6.8% share (based on physical terms) of total imports, which put it in second place, followed by Angola (4.6%). Democratic Republic of the Congo (X tons), Botswana (X tons), Madagascar (X tons) and Zambia (X tons) held a minor share of total imports.

Imports into South Africa decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, Madagascar (+23.2%) and Tanzania (+3.6%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing importer imported in SADC, with a CAGR of +23.2% from 2012-2021. By contrast, Angola (-8.2%), Zambia (-9.6%), Democratic Republic of the Congo (-11.8%) and Botswana (-15.4%) illustrated a downward trend over the same period. While the share of South Africa (+9.4 p.p.), Tanzania (+2.9 p.p.) and Madagascar (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Zambia (-1.7 p.p.), Angola (-3.2 p.p.), Democratic Republic of the Congo (-5.4 p.p.) and Botswana (-5.5 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported slag wool, rock wool and similar mineral wools and mixtures in SADC, comprising 81% of total imports. The second position in the ranking was held by Angola ($X), with a 5.5% share of total imports. It was followed by Tanzania, with a 3.2% share.

In South Africa, mineral wool imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Angola (-7.3% per year) and Tanzania (+9.9% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, surging by 36% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Angola ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Madagascar (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform