Finland: Mineral Wool Market 2024

Mineral Wool Market Size in Finland

In 2023, after two years of growth, there was significant decline in the Finnish mineral wool market, when its value decreased by X% to $X. Over the period under review, consumption recorded a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Mineral Wool Production in Finland

In value terms, mineral wool production fell to $X in 2023 estimated in export price. Over the period under review, production saw a abrupt shrinkage. The growth pace was the most rapid in 2022 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Mineral Wool Exports

Exports from Finland

In 2023, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2022 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, mineral wool exports declined remarkably to $X in 2023. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2022 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

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

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

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

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

Export Prices by Country

In 2023, the average mineral wool export price amounted to $X per ton, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. The export price peaked in 2023 and is expected to retain growth in the immediate term.

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

Mineral Wool Imports

Imports into Finland

After three years of growth, purchases abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons in 2023. Overall, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then contracted sharply in the following year.

In value terms, mineral wool imports reduced notably to $X in 2023. In general, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

Poland (X tons), Sweden (X tons) and Lithuania (X tons) were the main suppliers of mineral wool imports to Finland, with a combined X% share of total imports. Denmark, Estonia, Croatia, the Netherlands and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Croatia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool suppliers to Finland were Poland ($X), Sweden ($X) and Denmark ($X), with a combined X% share of total imports. Lithuania, Estonia, the Netherlands, Croatia and Russia lagged somewhat behind, together accounting for a further X%.

Croatia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 mineral wool import price stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, import price indicated a slight expansion 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 2021 indices. The pace of growth appeared the most rapid in 2022 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Croatia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform