Spain: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Spain

The Spanish glass fibres and wool market declined remarkably to $X in 2022, shrinking by -15.3% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Production of Glass Fibres And Glass Wool in Spain

In value terms, glass fibres and wool production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 301% against the previous year. As a result, production reached the peak level of $X, and then shrank remarkably in the following year.

Exports of Glass Fibres And Glass Wool

Exports from Spain

Glass fibres and wool exports from Spain shrank to X tons in 2022, with a decrease of -13.1% against the previous year's figure. Over the period under review, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 32%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, glass fibres and wool exports fell modestly to $X in 2022. Overall, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. As a result, the exports attained the peak of $X, and then reduced slightly in the following year.

Exports by Country

France (X tons) was the main destination for glass fibres and wool exports from Spain, accounting for a 56% share of total exports. Moreover, glass fibres and wool exports to France exceeded the volume sent to the second major destination, Portugal (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+18.3% per year) and Germany (+12.4% per year).

In value terms, Germany ($X), France ($X) and Portugal ($X) constituted the largest markets for glass fibres and wool exported from Spain worldwide, with a combined 65% share of total exports. The United States, Brazil, India, Denmark, Italy, Morocco and Belgium lagged somewhat behind, together accounting for a further 22%.

In terms of the main countries of destination, India, with a CAGR of +44.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool export price increased by +64.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 64% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Spain

In 2022, supplies from abroad of glass fibres and glass wool increased by 33% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 100% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, glass fibres and wool imports soared to $X in 2022. Overall, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 43%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), China (X tons) and Germany (X tons) were the main suppliers of glass fibres and wool imports to Spain, with a combined 57% share of total imports. Denmark, Italy, Morocco, Belgium, India and Lithuania lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +70.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool suppliers to Spain were France ($X), China ($X) and Germany ($X), together accounting for 44% of total imports. Morocco, Denmark, Italy, Lithuania, India and Belgium lagged somewhat behind, together accounting for a further 33%.

Morocco, with a CAGR of +72.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, shrinking by -9% against the previous year. Overall, the import price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2015 an increase of 49% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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