Venezuela: Mineral Wool Market 2024

Mineral Wool Market Size in Venezuela

The Venezuelan mineral wool market amounted to $X in 2021, flattening at the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Mineral wool consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mineral Wool Production in Venezuela

In value terms, mineral wool production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 32%. Mineral wool production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Mineral Wool Exports

Exports from Venezuela

In 2021, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures decreased by -5.1% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 807% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, mineral wool exports contracted to $X in 2021. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 317% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons) and Colombia (X tons) were the main destinations of mineral wool exports from Venezuela.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +59.2%).

In value terms, Spain ($X) and Colombia ($X) appeared to be the largest markets for mineral wool exported from Venezuela worldwide.

Colombia, with a CAGR of +47.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the export price recorded a abrupt downturn. The growth pace was the most rapid in 2018 an increase of 52% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Colombia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+11.3%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Venezuela

In 2021, after three years of growth, there was significant decline in supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures, when their volume decreased by -26.3% to X tons. In general, imports faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 144%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports fell to $X in 2021. Overall, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 86%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of mineral wool to Venezuela, with a 38% share of total imports. Moreover, mineral wool imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Colombia (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.5% per year) and Colombia (+9.7% per year).

In value terms, the United States ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Venezuela, comprising 38% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-22.1% per year) and the Netherlands (+10.6% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, rising by 21% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2015 when the average import price increased by 39% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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