Estonia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Estonia

The Estonian glass fibres and wool market skyrocketed to $X in 2022, jumping by 86% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Glass Fibres And Glass Wool

Exports from Estonia

In 2022, after three years of decline, there was significant growth in shipments abroad of glass fibres and glass wool, when their volume increased by 159% to X tons. Over the period under review, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibres and wool exports surged to $X in 2022. In general, exports saw slight growth. The pace of growth appeared the most rapid in 2013 when exports increased by 94%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons), Ukraine (X tons) and Finland (X tons) were the main destinations of glass fibres and wool exports from Estonia, with a combined 75% share of total exports. Latvia, Belarus, Sweden, the UK, Uzbekistan, Poland and Germany lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +92.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and Finland ($X) constituted the largest markets for glass fibres and wool exported from Estonia worldwide, together accounting for 57% of total exports. Sweden, Latvia, Poland, Germany, the UK, Belarus and Uzbekistan lagged somewhat behind, together comprising a further 32%.

The UK, with a CAGR of +107.7%, saw the highest growth rate of 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

The average glass fibres and wool export price stood at $X per ton in 2022, with a decrease of -27.8% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 69% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Russia ($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 Uzbekistan (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Estonia

In 2022, the amount of glass fibres and glass wool imported into Estonia soared to X tons, with an increase of 85% against the year before. In general, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +134.4% against 2020 indices. 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 surged to $X in 2022. Over the period under review, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), Russia (X tons) and Sweden (X tons) were the main suppliers of glass fibres and wool imports to Estonia, with a combined 52% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +151.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Sweden ($X) and South Korea ($X) were the largest glass fibres and wool suppliers to Estonia, with a combined 42% share of total imports.

South Korea, with a CAGR of +144.6%, saw the highest growth rate of 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, increasing by 27% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 35% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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