United Kingdom: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in the UK

The UK glass fibres and wool market stood at $X in 2022, approximately equating the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Glass fibres and wool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Glass Fibres And Glass Wool in the UK

In value terms, glass fibres and wool production shrank to $X in 2022 estimated in export price. In general, production, however, saw a slight contraction. The growth pace was the most rapid in 2014 when the production volume increased by 16%. Glass fibres and wool production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Glass Fibres And Glass Wool

Exports from the UK

In 2022, shipments abroad of glass fibres and glass wool increased by 10% to X tons, rising for the second year in a row after three years of decline. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 78%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports surged to $X in 2022. In general, exports posted notable growth. The pace of growth appeared the most rapid in 2016 with an increase of 55% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and France (X tons) were the main destinations of glass fibres and wool exports from the UK, with a combined 34% share of total exports. Sweden, Ireland, Italy, the United States, New Zealand, Denmark, the United Arab Emirates, Belgium, Norway and the Netherlands lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +51.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the United States ($X) appeared to be the largest markets for glass fibres and wool exported from the UK worldwide, together accounting for 39% of total exports. Sweden, Poland, France, Denmark, Ireland, Belgium, the Netherlands, the United Arab Emirates, Norway and New Zealand lagged somewhat behind, together comprising a further 29%.

Among the main countries of destination, New Zealand, with a CAGR of +40.0%, saw the highest rates of growth with regard to 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 glass fibres and wool export price stood at $X per ton in 2022, picking up by 34% against the previous year. In general, the export price enjoyed a perceptible increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 51%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to New Zealand ($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 Germany (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into the UK

Glass fibres and wool imports into the UK surged to X tons in 2022, increasing by 29% compared with 2021 figures. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +57.6% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, glass fibres and wool imports skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 165%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of glass fibres and wool to the UK, accounting for a 33% share of total imports. Moreover, glass fibres and wool imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.0% per year) and Italy (+5.6% per year).

In value terms, the largest glass fibres and wool suppliers to the UK were the United States ($X), China ($X) and Germany ($X), together comprising 50% of total imports. Belgium, Italy, Denmark, France, Poland, the Czech Republic, Spain, Brazil and Turkey lagged somewhat behind, together accounting for a further 31%.

Brazil, with a CAGR of +72.4%, recorded 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

The average glass fibres and wool import price stood at $X per ton in 2022, surging by 4.2% against the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 88% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 Spain ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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