Turkey: Mineral Wool Market 2024

Mineral Wool Market Size in Turkey

The Turkish mineral wool market fell dramatically to $X in 2022, declining by X% against the previous year. In general, consumption, however, showed prominent growth. Mineral wool consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Mineral Wool Production in Turkey

In value terms, mineral wool production shrank markedly to $X in 2022 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Mineral wool production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Mineral Wool Exports

Exports from Turkey

In 2022, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, mineral wool exports surged to $X in 2022. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons), Serbia (X tons) and Bulgaria (X tons) were the main destinations of mineral wool exports from Turkey, together accounting for X% of total exports. Poland, Israel, Italy, Croatia, Iraq, the Czech Republic, Georgia, Slovenia, Russia and Azerbaijan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Romania ($X), Serbia ($X) and Bulgaria ($X) were the largest markets for mineral wool exported from Turkey worldwide, with a combined X% share of total exports. Israel, Poland, Italy, Iraq, Croatia, the Czech Republic, Georgia, Russia, Slovenia and Azerbaijan lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Poland, 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

The average mineral wool export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Mineral Wool Imports

Imports into Turkey

In 2022, after four years of decline, there was significant growth in purchases abroad of slag wool, rock wool and similar mineral wools and mixtures, when their volume increased by X% to X tons. Overall, imports, however, showed a noticeable descent. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Slovenia (X tons) were the main suppliers of mineral wool imports to Turkey, together comprising X% of total imports. Poland, Saudi Arabia, Denmark, France, the UK, Hungary, Serbia and Greece lagged somewhat behind, together accounting for a further X%.

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 Turkey were China ($X), Germany ($X) and Poland ($X), together accounting for X% of total imports. Slovenia, France, Denmark, Saudi Arabia, the UK, Hungary, Serbia and Greece lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 mineral wool import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated perceptible growth 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. Based on 2022 figures, mineral wool import price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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