Scandinavia: Mineral Wool Market 2024

Mineral Wool Market Size in Scandinavia

The Scandinavia mineral wool market surged to $X in 2021, increasing by 20% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Mineral Wool Production in Scandinavia

In value terms, mineral wool production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Mineral Wool Exports

Exports in Scandinavia

In 2021, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures were finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, mineral wool exports surged to $X in 2021. Overall, exports, however, continue to indicate a noticeable slump. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Norway was the major exporting country with an export of around X tons, which accounted for 72% of total exports. Sweden (X tons) held the second position in the ranking, distantly followed by Finland (X tons). All these countries together took approx. 28% share of total exports.

Norway was also the fastest-growing in terms of the slag wool, rock wool and similar mineral wools and mixtures exports, with a CAGR of +15.2% from 2012 to 2021. At the same time, Sweden (+1.6%) displayed positive paces of growth. By contrast, Finland (-11.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Norway and Sweden increased by +50 and +1.6 percentage points, respectively.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) appeared to be the countries with the highest levels of exports in 2021.

Norway, with a CAGR of +8.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, shrinking by -11% against the previous year. In general, the export price recorded a pronounced curtailment. The growth pace was the most rapid in 2019 when the export price increased by 16% against the previous year. The level of export 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 origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($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 (+1.4%), while the other leaders experienced a decline in the export price figures.

Mineral Wool Imports

Imports in Scandinavia

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were imported in Scandinavia; growing by 10% on the previous year's figure. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.4% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, mineral wool imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

Sweden represented the major importing country with an import of around X tons, which accounted for 46% of total imports. Finland (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Norway (21%) and Denmark (9.8%).

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +9.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X), with a combined 84% share of total imports.

Finland, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, surging by 3.2% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2013 an increase of 4.7%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Denmark ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform