Slovakia: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Slovakia

In 2022, the Slovak glass fibres and wool market increased by 33% to $X, rising for the seventh consecutive year after two years of decline. Overall, consumption enjoyed a buoyant increase. Glass fibres and wool consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Glass Fibres And Glass Wool in Slovakia

In value terms, glass fibres and wool production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 43% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Exports of Glass Fibres And Glass Wool

Exports from Slovakia

In 2022, approx. X tons of glass fibres and glass wool were exported from Slovakia; which is down by -85.9% against 2021 figures. Overall, exports saw a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of 123% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports reduced remarkably to $X in 2022. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 56%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for glass fibres and wool exports from Slovakia, accounting for a 43% share of total exports. Moreover, glass fibres and wool exports to the Czech Republic exceeded the volume sent to the second major destination, Germany (X tons), threefold. Hungary (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic totaled -17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-20.0% per year) and Hungary (+60.1% per year).

In value terms, Serbia ($X), Austria ($X) and the Czech Republic ($X) were the largest markets for glass fibres and wool exported from Slovakia worldwide, with a combined 43% share of total exports.

Serbia, with a CAGR of +106.1%, saw the highest growth rate of the value of exports, among 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, jumping by 135% against the previous year. Over the period under review, the export price posted strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Slovakia

In 2022, overseas purchases of glass fibres and glass wool increased by 49% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 216% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. In general, imports saw a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 85%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Poland (X tons) constituted the largest glass fibres and wool supplier to Slovakia, accounting for a 60% share of total imports. Moreover, glass fibres and wool imports from Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+19.0% per year) and Germany (-0.8% per year).

In value terms, the Czech Republic ($X), Poland ($X) and Germany ($X) were the largest glass fibres and wool suppliers to Slovakia, with a combined 58% share of total imports. France and Turkey lagged somewhat behind, together accounting for a further 5.6%.

Among the main suppliers, Turkey, with a CAGR of +83.7%, saw 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

In 2022, the average glass fibres and wool import price amounted to $X per ton, dropping by -21.6% against the previous year. Over the period under review, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 118%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Poland ($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 (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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