Estonia: Mineral Wool Market 2024

Mineral Wool Market Size in Estonia

In 2023, after two years of growth, there was significant decline in the Estonian mineral wool market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Mineral wool consumption peaked at $X in 2022, and then declined notably in the following year.

Mineral Wool Exports

Exports from Estonia

In 2023, shipments abroad of slag wool, rock wool and similar mineral wools and mixtures increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, total exports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports skyrocketed to $X in 2023. Over the period under review, total exports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the near future.

Exports by Country

Finland (X tons) was the main destination for mineral wool exports from Estonia, with a X% share of total exports. Moreover, mineral wool exports to Finland exceeded the volume sent to the second major destination, Latvia (X tons), eightfold. The third position in this ranking was taken by Iceland (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Iceland (X% per year).

In value terms, Finland ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Latvia ($X), with a X% share of total exports. It was followed by Iceland, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Iceland (X% per year).

Export Prices by Country

In 2023, the average mineral wool export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Latvia ($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 Finland (X%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Estonia

In 2023, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were imported into Estonia; which is down by X% compared with the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, mineral wool imports declined significantly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

Poland (X tons), Lithuania (X tons) and Finland (X tons) were the main suppliers of mineral wool imports to Estonia, together accounting for X% of total imports. Belarus, the Czech Republic, Ukraine and Russia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest mineral wool suppliers to Estonia were Poland ($X), Lithuania ($X) and Finland ($X), with a combined X% share of total imports. The Czech Republic, Belarus, Ukraine and Russia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Czech Republic, 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, with an increase of X% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2023: its price 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, mineral wool import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

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

Source: IndexBox Platform