U.S.: Mineral Wool Market 2024

Mineral Wool Market Size in the U.S.

The U.S. mineral wool market reduced modestly to $X in 2021, remaining constant against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Mineral Wool Production in the U.S.

In value terms, mineral wool production declined modestly to $X in 2021. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 15%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Mineral Wool Exports

Exports from the U.S.

In 2021, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -23.7% to X tons, falling for the third consecutive year after two years of growth. Overall, exports saw a significant contraction. The growth pace was the most rapid in 2014 with an increase of 30% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, mineral wool exports soared to $X in 2021. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), France (X tons) and Canada (X tons) were the main destinations of mineral wool exports from the United States, with a combined 49% share of total exports. The UK, Germany, Thailand, Saudi Arabia, Russia, Singapore, Poland, Italy, Spain and the Philippines lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +15.4%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from the United States, comprising 56% of total exports. The second position in the ranking was taken by Mexico ($X), with a 20% share of total exports. It was followed by Poland, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+12.9% per year) and Poland (+46.7% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, growing by 81% against the previous year. In general, the export price posted a significant increase. The pace of growth appeared the most rapid in 2020 an increase of 559% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Singapore ($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 Canada (+56.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into the U.S.

In 2021, purchases abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -7% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, showed temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, mineral wool imports rose rapidly to $X in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 decreased by -20.6% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 31%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Canada (X tons) constituted the largest mineral wool supplier to the United States, accounting for a 67% share of total imports. Moreover, mineral wool imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Canada totaled +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+4.3% per year) and Japan (+0.2% per year).

In value terms, Canada ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to the United States, comprising 50% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Mexico, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Canada amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.9% per year) and Mexico (+1.6% per year).

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2021, increasing by 15% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Canada ($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 UK (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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