South-Eastern Asia: Mineral Wool Market 2024

Mineral Wool Market Size in South-Eastern Asia

The Southeast Asian mineral wool market was estimated at $X in 2021, therefore, remained relatively stable against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.6% against 2019 indices. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Production in South-Eastern Asia

In value terms, mineral wool production stood at $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 21% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Mineral Wool Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were exported in South-Eastern Asia; growing by 15% against the year before. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, mineral wool exports soared to $X in 2021. Total exports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +73.0% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of 31%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, Malaysia (X tons) represented the largest exporter of slag wool, rock wool and similar mineral wools and mixtures, committing 46% of total exports. The Philippines (X tons) took the second position in the ranking, distantly followed by Indonesia (X tons) and Thailand (X tons). All these countries together took approx. 52% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +353.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool supplying countries in South-Eastern Asia were the Philippines ($X), Malaysia ($X) and Indonesia ($X), with a combined 85% share of total exports.

The Philippines, with a CAGR of +252.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 3.1% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 14%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.0%), while the other leaders experienced a decline in the export price figures.

Mineral Wool Imports

Imports in South-Eastern Asia

Mineral wool imports was estimated at X tons in 2021, remaining constant against 2020 figures. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mineral wool imports reached $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 21%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Singapore (X tons) represented roughly 66% of total imports in 2021. Malaysia (X tons) ranks next in terms of the total imports with a 10% share, followed by Thailand (8.6%) and the Philippines (8.4%). Cambodia (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +61.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 63% share of total imports. Malaysia, Singapore, the Philippines and Cambodia lagged somewhat behind, together accounting for a further 36%.

Cambodia, with a CAGR of +67.7%, recorded the highest growth rate of 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2013 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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 Thailand ($X per ton), while Singapore ($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 Philippines (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :