Iran: Mineral Wool Market 2024

Mineral Wool Market Size in Iran

The Iranian mineral wool market fell slightly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Mineral Wool Production in Iran

In value terms, mineral wool production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Mineral Wool Exports

Exports from Iran

After two years of growth, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, mineral wool exports declined to $X in 2022. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Iraq (X tons) was the main destination for mineral wool exports from Iran, with a X% share of total exports. Moreover, mineral wool exports to Iraq exceeded the volume sent to the second major destination, Uzbekistan (X tons), tenfold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and Italy (X% per year).

In value terms, the largest markets for mineral wool exported from Iran were Iraq ($X), Qatar ($X) and Italy ($X), with a combined X% share of total exports. Uzbekistan, Turkmenistan and Kyrgyzstan lagged somewhat behind, together comprising a further X%.

Uzbekistan, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average mineral wool export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, recorded a mild decrease. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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 Qatar ($X per ton), while the average price for exports to Kyrgyzstan ($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 Qatar (X%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Iran

Mineral wool imports into Iran contracted significantly to X tons in 2022, which is down by X% on 2021. In general, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, mineral wool imports declined sharply to $X in 2022. Overall, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest mineral wool supplier to Iran, accounting for a X% share of total imports. Moreover, mineral wool imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Kuwait (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Kuwait (X% per year).

In value terms, China ($X) constituted the largest supplier of slag wool, rock wool and similar mineral wools and mixtures to Iran, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Kuwait (X% per year).

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, import price indicated a resilient increase 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 2020 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

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 Italy ($X per ton), while the price for Malaysia ($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 United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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