United Arab Emirates: Mineral Wool Market 2024

Mineral Wool Market Size in the United Arab Emirates

After two years of decline, the mineral wool market in the United Arab Emirates increased by 8.1% to $X in 2021. In general, consumption continues to indicate strong growth. Mineral wool consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Mineral Wool Production in the United Arab Emirates

In value terms, mineral wool production stood at $X in 2021 estimated in export price. Overall, production posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 81% against the previous year. Mineral wool production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Mineral Wool Exports

Exports from the United Arab Emirates

After six years of decline, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures increased by 113% to X tons in 2021. Overall, exports, however, showed a abrupt slump. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports soared to $X in 2021. Over the period under review, exports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2014 with an increase of 140%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for mineral wool exports from the United Arab Emirates, accounting for a 38% share of total exports. Moreover, mineral wool exports to Oman exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. Nigeria (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman amounted to -13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-18.4% per year) and Nigeria (+49.4% per year).

In value terms, Oman ($X), Saudi Arabia ($X) and Nigeria ($X) appeared to be the largest markets for mineral wool exported from the United Arab Emirates worldwide, together accounting for 62% of total exports. These countries were followed by Turkey, Egypt, Kuwait and Singapore, which together accounted for a further 22%.

Egypt, with a CAGR of +89.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, which is down by -20% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool export price increased by +13.0% against 2019 indices. The growth pace was the most rapid in 2014 when the average export price increased by 60% against the previous year. The export price peaked at $X per ton in 2020, and then shrank rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Oman ($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 Saudi Arabia (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were imported into the United Arab Emirates; with an increase of 23% against 2020 figures. Over the period under review, imports showed a moderate increase. The growth pace was the most rapid in 2017 when imports increased by 43%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, mineral wool imports expanded notably to $X in 2021. Overall, imports enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of 33% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of mineral wool to the United Arab Emirates, with a 47% share of total imports. Moreover, mineral wool imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. India (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.0% per year) and India (+6.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to the United Arab Emirates, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.8% per year) and India (+15.3% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, shrinking by -8.6% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 48%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Turkey ($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 Netherlands (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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