Eastern Europe: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Eastern Europe

After two years of decline, the East European glass fibres and wool market increased by 12% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres And Glass Wool in Eastern Europe

In value terms, glass fibres and wool production reduced to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 16%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Glass Fibres And Glass Wool

Exports in Eastern Europe

In 2022, overseas shipments of glass fibres and glass wool decreased by -6.2% to X tons, falling for the fourth consecutive year after seven years of growth. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 44% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports expanded modestly to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.8% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, Russia (X tons), distantly followed by Belarus (X tons), Poland (X tons), Lithuania (X tons), Latvia (X tons), the Czech Republic (X tons) and Hungary (X tons) represented the major exporters of glass fibres and glass wool, together generating 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Lithuania (with a CAGR of +59.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool supplying countries in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together comprising 61% of total exports. Lithuania, Belarus, Hungary and Latvia lagged somewhat behind, together comprising a further 28%.

In terms of the main exporting countries, Lithuania, with a CAGR of +53.8%, saw the highest rates of growth with regard to 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 export price in Eastern Europe stood at $X per ton in 2022, picking up by 8.3% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibres and wool export price increased by +76.0% against 2015 indices. The pace of growth appeared the most rapid in 2021 an increase of 20%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.1%), while the other leaders experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports in Eastern Europe

In 2022, after three years of decline, there was significant growth in supplies from abroad of glass fibres and glass wool, when their volume increased by 34% to X tons. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +104.0% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Poland (X tons), distantly followed by Russia (X tons), the Czech Republic (X tons), Romania (X tons), Hungary (X tons), Slovakia (X tons) and Lithuania (X tons) represented the major importers of glass fibres and glass wool, together making up 89% of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass fibres and wool imports into Poland stood at +4.8%. At the same time, Lithuania (+27.1%), Slovakia (+15.3%), Hungary (+14.6%) and Romania (+9.5%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +27.1% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Russia (-8.4%) illustrated a downward trend over the same period. Lithuania (+7.4 p.p.), Poland (+7.3 p.p.), Hungary (+6 p.p.), Slovakia (+5.9 p.p.) and Romania (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -26% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass fibres and wool importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), with a combined 58% share of total imports. Romania, Hungary, Slovakia and Lithuania lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Lithuania, with a CAGR of +25.3%, recorded the highest rates of growth with regard to 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 import price in Eastern Europe stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2021 an increase of 16%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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