Eastern Europe: Insulating Board Market 2024

Insulating Board Market Size in Eastern Europe

The East European insulating board market reached $X in 2022, picking up by 5.1% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.4% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Insulating Board Production in Eastern Europe

In value terms, insulating board production reached $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Insulating Board Exports

Exports in Eastern Europe

In 2022, overseas shipments of insulating board decreased by -17.6% to X cubic meters for the first time since 2011, thus ending a ten-year rising trend. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 14%. The volume of export peaked at X cubic meters in 2021, and then dropped rapidly in the following year.

In value terms, insulating board exports shrank slightly to $X in 2022. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 28% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

Poland prevails in exports structure, finishing at X cubic meters, which was near 90% of total exports in 2022. Estonia (X cubic meters), Latvia (X cubic meters) and Belarus (X cubic meters) followed a long way behind the leaders.

Exports from Poland increased at an average annual rate of +6.4% from 2012 to 2022. At the same time, Latvia (+103.6%) and Belarus (+24.5%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +103.6% from 2012-2022. By contrast, Estonia (-2.3%) illustrated a downward trend over the same period. While the share of Poland (+12 p.p.) and Latvia (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Estonia (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest insulating board supplier in Eastern Europe, comprising 92% of total exports. The second position in the ranking was taken by Estonia ($X), with a 3.4% share of total exports. It was followed by Belarus, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland totaled +12.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Estonia (-0.7% per year) and Belarus (+24.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per cubic meter, surging by 20% against the previous year. Over the last decade, it increased at an average annual rate of +4.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per cubic meter), while Latvia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.3%), while the other leaders experienced more modest paces of growth.

Insulating Board Imports

Imports in Eastern Europe

In 2022, approx. X cubic meters of insulating board were imported in Eastern Europe; declining by -29.9% compared with the year before. Total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 39% against the previous year. Over the period under review, imports attained the peak figure at X cubic meters in 2021, and then shrank sharply in the following year.

In value terms, insulating board imports fell markedly to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +2.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

The countries with the highest levels of insulating board imports in 2022 were Russia (X cubic meters), Slovakia (X cubic meters) and the Czech Republic (X cubic meters), together reaching 60% of total import. Romania (X cubic meters) held a 9.9% share (based on physical terms) of total imports, which put it in second place, followed by Latvia (8.5%), Ukraine (4.9%) and Bulgaria (4.6%).

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +16.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest insulating board importing markets in Eastern Europe were the Czech Republic ($X), Slovakia ($X) and Russia ($X), with a combined 56% share of total imports.

The Czech Republic, with a CAGR of +20.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per cubic meter in 2022, picking up by 6.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 18%. Over the period under review, import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per cubic meter), while Russia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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