Africa: Mineral Wool Market 2024

Mineral Wool Market Size in Africa

The African mineral wool market dropped modestly to $X in 2023, approximately equating the previous year. Overall, consumption, however, recorded a remarkable increase. The level of consumption peaked at $X in 2022, and then reduced modestly in the following year.

Mineral Wool Production in Africa

In value terms, mineral wool production declined modestly to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Mineral Wool Exports

Exports in Africa

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 2023. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, mineral wool exports dropped notably to $X in 2023. Over the period under review, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Egypt was the key exporting country with an export of about X tons, which resulted at X% of total exports. South Africa (X tons) took the second position in the ranking, distantly followed by Morocco (X tons) and Zambia (X tons). All these countries together held near X% share of total exports. Nigeria (X tons) held a little share of total exports.

Exports from Egypt increased at an average annual rate of X% from 2012 to 2023. At the same time, Zambia (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. Nigeria experienced a relatively flat trend pattern. By contrast, South Africa (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Egypt, Morocco, Zambia and Nigeria increased by X, X, X and X percentage points, respectively.

In value terms, Egypt ($X), South Africa ($X) and Morocco ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Zambia and Nigeria lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, 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 export price in Africa stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, recorded a deep contraction. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Mineral Wool Imports

Imports in Africa

In 2023, overseas purchases of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, mineral wool imports fell to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of slag wool, rock wool and similar mineral wools and mixtures, namely South Africa, Nigeria and Morocco, represented more than half of total import. Tunisia (X tons) ranks next in terms of the total imports with an X% share, followed by Egypt (X%) and Algeria (X%). The following importers - Zimbabwe (X tons), Zambia (X tons), Ghana (X tons), Kenya (X tons), Senegal (X tons), Angola (X tons) and Cote d'Ivoire (X tons) - each reached a X% share of total imports.

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

In value terms, South Africa ($X) constitutes the largest market for imported slag wool, rock wool and similar mineral wools and mixtures in Africa, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Morocco, with a X% share.

From 2012 to 2023, the average annual growth rate of value in South Africa was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Morocco (X% per year).

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, surging by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Zambia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform