Scandinavia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Scandinavia

In 2022, after four years of growth, there was significant decline in the Scandinavia glass fibres and wool market, when its value decreased by -32% to $X. In general, consumption, however, continues to indicate a buoyant expansion. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Production of Glass Fibres And Glass Wool in Scandinavia

In value terms, glass fibres and wool production expanded modestly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +11.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 77% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports in Scandinavia

In 2022, the amount of glass fibres and glass wool exported in Scandinavia shrank markedly to X tons, which is down by -26.5% against the previous year. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 153%. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, glass fibres and wool exports declined slightly to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +89.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 91% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Finland (X tons) was the key exporter of glass fibres and glass wool, creating 73% of total exports. It was distantly followed by Sweden (X tons), comprising a 24% share of total exports. Norway (X tons) held a little share of total exports.

Finland experienced a relatively flat trend pattern with regard to volume of exports of glass fibres and glass wool. At the same time, Norway (+8.6%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.6% from 2012-2022. By contrast, Sweden (-2.8%) illustrated a downward trend over the same period. Finland (+4.5 p.p.) and Norway (+2 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -6.5% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest glass fibres and wool supplier in Scandinavia, comprising 64% of total exports. The second position in the ranking was held by Finland ($X), with a 30% share of total exports.

In Sweden, glass fibres and wool exports expanded at an average annual rate of +3.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-1.2% per year) and Norway (+1.8% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, with an increase of 33% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the export price increased by 97% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+6.9%), while the other leaders experienced a decline in the export price figures.

Imports of Glass Fibres And Glass Wool

Imports in Scandinavia

In 2022, the amount of glass fibres and glass wool imported in Scandinavia shrank to X tons, waning by -12.9% against 2021. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports rose sharply to $X in 2022. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Norway (X tons) and Sweden (X tons) were the key importers of glass fibres and glass wool in 2022, recording near 48% and 41% of total imports, respectively. It was distantly followed by Finland (X tons), achieving a 12% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +1.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Norway, with a CAGR of +3.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform