India: Mineral Wool Market 2024

Mineral Wool Market Size in India

The Indian mineral wool market stood at $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Mineral Wool Production in India

In value terms, mineral wool production amounted to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Mineral Wool Exports

Exports from India

In 2022, exports of slag wool, rock wool and similar mineral wools and mixtures from India reduced dramatically to X tons, which is down by X% on 2021 figures. Over the period under review, exports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, mineral wool exports dropped to $X in 2022. In general, total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons), Bangladesh (X tons) and Nigeria (X tons) were the main destinations of mineral wool exports from India, with a combined X% share of total exports. Qatar, Japan, the United Arab Emirates, Malaysia, Vietnam, Tanzania, Nepal, Kenya, Thailand and Sri Lanka lagged somewhat behind, together comprising a further X%.

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

In value terms, Nigeria ($X), Singapore ($X) and Qatar ($X) were the largest markets for mineral wool exported from India worldwide, together comprising X% of total exports. Japan, Bangladesh, the United Arab Emirates, Vietnam, Malaysia, Thailand, Sri Lanka, Kenya, Tanzania and Nepal lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Japan, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average mineral wool export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. 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 the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

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

Mineral Wool Imports

Imports into India

In 2022, supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mineral wool imports surged to $X in 2022. In general, imports, however, recorded a perceptible setback. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) were the main suppliers of mineral wool imports to India, together comprising X% of total imports.

From 2012 to 2022, 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, the largest mineral wool suppliers to India were the Netherlands ($X), China ($X) and South Korea ($X), with a combined X% share of total imports. Saudi Arabia, the UK, France, Germany and the United States lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, 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 average mineral wool import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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