Ukraine: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Ukraine

In 2022, the Ukrainian glass fibres and wool market decreased by -27.2% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Glass fibres and wool consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Ukraine

In value terms, glass fibres and wool production contracted slightly to $X in 2022 estimated in export price. In general, production showed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 253%. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2022.

Exports of Glass Fibres And Glass Wool

Exports from Ukraine

For the fifth year in a row, Ukraine recorded growth in overseas shipments of glass fibres and glass wool, which increased by 17% to X tons in 2022. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 62% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, glass fibres and wool exports surged to $X in 2022. In general, exports recorded a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 124%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Hungary (X tons) and Poland (X tons) were the main destinations of glass fibres and wool exports from Ukraine, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +178.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibres and wool exported from Ukraine were Hungary ($X), France ($X) and Kazakhstan ($X), with a combined 61% share of total exports.

Among the main countries of destination, France, with a CAGR of +191.5%, recorded the highest growth rate of 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, rising by 39% against the previous year. Over the last decade, it increased at an average annual rate of +6.3%. The pace of growth was the most pronounced in 2013 when the average export price increased by 49%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Bulgaria ($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 Switzerland (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Ukraine

Glass fibres and wool imports into Ukraine fell rapidly to X tons in 2022, waning by -22.8% compared with 2021. Overall, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 21%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports declined remarkably to $X in 2022. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of glass fibres and wool to Ukraine, accounting for a 41% share of total imports. Moreover, glass fibres and wool imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by India (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +39.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.5% per year) and India (+9.5% per year).

In value terms, the largest glass fibres and wool suppliers to Ukraine were China ($X), Poland ($X) and Turkey ($X), with a combined 47% share of total imports. India, Germany, Romania, Slovenia, France, Russia and Austria lagged somewhat behind, together accounting for a further 34%.

Romania, with a CAGR of +69.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, declining by -25.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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