Australia: Mineral Wool Market 2024

Mineral Wool Market Size in Australia

In 2023, after two years of growth, there was significant decline in the Australian mineral wool market, when its value decreased by X% to $X. Overall, the total consumption indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2022, and then contracted notably in the following year.

Mineral Wool Exports

Exports from Australia

After four years of decline, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures increased by X% to X tons in 2023. In general, exports, however, faced a sharp downturn. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports surged to $X in 2023. Overall, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tons), New Zealand (X tons) and Chile (X tons) were the main destinations of mineral wool exports from Australia, together accounting for X% of total exports. Nauru, Papua New Guinea, Singapore, French Polynesia and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Nauru (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) emerged as the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Australia, comprising X% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a X% share of total exports. It was followed by Singapore, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and Singapore (X% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price, however, showed a measured increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was French Polynesia ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to French Polynesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Australia

In 2023, supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, total imports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2022, and then dropped significantly in the following year.

In value terms, mineral wool imports declined significantly to $X in 2023. Over the period under review, total imports indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at $X in 2022, and then shrank sharply in the following year.

Imports by Country

China (X tons), Malaysia (X tons) and Slovenia (X tons) were the main suppliers of mineral wool imports to Australia, together accounting for X% of total imports. Poland, Saudi Arabia, the UK, Indonesia, Vietnam, Thailand, the United States and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Slovenia ($X) constituted the largest mineral wool suppliers to Australia, together accounting for X% of total imports. Poland, the UK, Saudi Arabia, Indonesia, the United States, Vietnam, the Netherlands and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform