Saudi Arabia: Mineral Wool Market 2024

Mineral Wool Market Size in Saudi Arabia

The Saudi mineral wool market expanded rapidly to $X in 2021, with an increase of 5.3% against the previous year. Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Mineral Wool Production in Saudi Arabia

In value terms, mineral wool production rose rapidly to $X in 2021 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 123% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Mineral Wool Exports

Exports from Saudi Arabia

For the seventh consecutive year, Saudi Arabia recorded growth in shipments abroad of slag wool, rock wool and similar mineral wools and mixtures, which increased by 1.1% to X tons in 2021. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 50% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, mineral wool exports declined modestly to $X in 2021. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 48%. Over the period under review, the exports attained the peak figure at $X in 2020, and then shrank slightly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for mineral wool exports from Saudi Arabia, with a 57% share of total exports. Moreover, mineral wool exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), fivefold. The third position in this ranking was taken by Oman (X tons), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+64.3% per year) and Oman (+14.3% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Saudi Arabia, comprising 56% of total exports. The second position in the ranking was held by Kuwait ($X), with a 13% share of total exports. It was followed by Oman, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+69.4% per year) and Oman (+18.4% per year).

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, waning by -4.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 6.3% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 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 Oman ($X per ton), while the average price for exports to Turkey ($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 Oman (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Saudi Arabia

For the third consecutive year, Saudi Arabia recorded decline in overseas purchases of slag wool, rock wool and similar mineral wools and mixtures, which decreased by -5.2% to X tons in 2021. Overall, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 92%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, mineral wool imports shrank dramatically to $X in 2021. In general, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when imports increased by 95% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest mineral wool supplier to Saudi Arabia, accounting for a 57% share of total imports. Moreover, mineral wool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-18.4% per year) and India (-8.9% per year).

In value terms, China ($X), the United Arab Emirates ($X) and India ($X) were the largest mineral wool suppliers to Saudi Arabia, with a combined 64% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of -9.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2021, dropping by -18.9% against the previous year. In general, the import price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 49%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 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 the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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