Slovakia: Mineral Wool Market 2024

Mineral Wool Market Size in Slovakia

In 2021, after two years of decline, there was significant growth in the Slovak mineral wool market, when its value increased by 24% to $X. In general, consumption saw a noticeable increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Mineral Wool Production in Slovakia

In value terms, mineral wool production soared to $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -23.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 53%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Mineral Wool Exports

Exports from Slovakia

For the fifth year in a row, Slovakia recorded growth in shipments abroad of slag wool, rock wool and similar mineral wools and mixtures, which increased by 8.5% to X tons in 2021. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.2% against 2015 indices. The pace of growth was the most pronounced in 2015 with an increase of 37%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, mineral wool exports surged to $X in 2021. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 69%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Italy (X tons), the Czech Republic (X tons) and Slovenia (X tons) were the main destinations of mineral wool exports from Slovakia, together comprising 59% of total exports. These countries were followed by Hungary, Germany, Austria, Croatia, Romania and Poland, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +53.1%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Czech Republic ($X) and Austria ($X) were the largest markets for mineral wool exported from Slovakia worldwide, together accounting for 59% of total exports. Slovenia, Germany, Croatia, Hungary, Romania and Poland lagged somewhat behind, together accounting for a further 38%.

Croatia, with a CAGR of +57.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, increasing by 19% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Hungary ($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 Italy (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Slovakia

In 2021, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures increased by 122% to X tons, rising for the second year in a row after two years of decline. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 197% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, mineral wool imports surged to $X in 2021. In general, imports recorded a strong expansion. The growth pace was the most rapid in 2015 with an increase of 279%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Poland (X tons) constituted the largest mineral wool supplier to Slovakia, accounting for a 68% share of total imports. Moreover, mineral wool imports from Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fivefold. Ukraine (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from Poland totaled +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-5.0% per year) and Ukraine (+255.4% per year).

In value terms, Poland ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Slovakia, comprising 70% of total imports. The second position in the ranking was held by the Czech Republic ($X), with an 11% share of total imports. It was followed by Turkey, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from Poland amounted to +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-6.2% per year) and Turkey (+121.6% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, surging by 2.8% against the previous year. Over the period under review, the import price, however, recorded a mild downturn. The pace of growth was the most pronounced in 2018 an increase of 30%. The import price peaked at $X per ton in 2015; however, from 2016 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 Turkey ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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