Sweden: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Sweden

The Swedish glass fibres and wool market surged to $X in 2022, rising by 31% against the previous year. Overall, consumption posted a modest expansion. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Production of Glass Fibres And Glass Wool in Sweden

In value terms, glass fibres and wool production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +12.6% 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 -2.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 141%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Sweden

In 2022, the amount of glass fibres and glass wool exported from Sweden contracted remarkably to X tons, falling by -60.9% on 2021 figures. Over the period under review, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 54% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

China (X tons) was the main destination for glass fibres and wool exports from Sweden, with a 34% share of total exports. Moreover, glass fibres and wool exports to China exceeded the volume sent to the second major destination, France (X tons), twofold. Norway (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+26.6% per year) and Norway (-3.5% per year).

In value terms, China ($X) remains the key foreign market for glass fibres and glass wool exports from Sweden, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.9% share of total exports. It was followed by the UK, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.0% per year) and the UK (-5.5% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, rising by 145% against the previous year. Over the period under review, the export price recorded a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 Finland (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Sweden

In 2022, overseas purchases of glass fibres and glass wool decreased by -31.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 20%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, glass fibres and wool imports fell modestly to $X in 2022. Over the period under review, imports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of 35%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Denmark (X tons), Germany (X tons) and China (X tons) were the main suppliers of glass fibres and wool imports to Sweden, together comprising 43% of total imports. Italy, Poland, Finland, France, the UK and Spain lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of glass fibres and glass wool to Sweden, comprising 35% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.0% per year) and the UK (-12.7% per year).

Import Prices by Country

The average glass fibres and wool import price stood at $X per ton in 2022, growing by 45% against the previous year. Over the period under review, the import price, however, continues to indicate a slight reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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