CIS: Insulating Board Market 2024

Insulating Board Market Size in CIS

The CIS insulating board market skyrocketed to $X in 2022, rising by 65% against the previous year. Over the period under review, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Insulating Board Production in CIS

In value terms, insulating board production expanded slightly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 -2.3% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 46% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Insulating Board Exports

Exports in CIS

In 2022, overseas shipments of insulating board decreased by -67.8% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 133% against the previous year. As a result, the exports reached the peak of X cubic meters, and then fell dramatically in the following year.

In value terms, insulating board exports declined significantly to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 247%. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

Belarus represented the main exporting country with an export of about X cubic meters, which amounted to 65% of total exports. It was distantly followed by Russia (X cubic meters), comprising a 35% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +24.5%).

In value terms, Belarus ($X) remains the largest insulating board supplier in the CIS, comprising 71% of total exports. The second position in the ranking was taken by Russia ($X), with a 28% share of total exports.

In Belarus, insulating board exports increased at an average annual rate of +24.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per cubic meter, growing by 13% against the previous year. Overall, the export price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 49%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per cubic meter), while Russia amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+0.1%).

Insulating Board Imports

Imports in CIS

In 2022, insulating board imports in the CIS shrank to X cubic meters, falling by -9% compared with the previous year's figure. In general, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2017 with an increase of 49%. Over the period under review, imports reached the maximum at X cubic meters in 2021, and then fell in the following year.

In value terms, insulating board imports fell to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Russia (X cubic meters) was the key importer of insulating board, creating 70% of total imports. Belarus (X cubic meters) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (10%). Azerbaijan (X cubic meters) followed a long way behind the leaders.

Russia was also the fastest-growing in terms of the insulating board imports, with a CAGR of +7.4% from 2012 to 2022. Belarus experienced a relatively flat trend pattern. Kazakhstan (-8.8%) and Azerbaijan (-9.6%) illustrated a downward trend over the same period. Russia (+32 p.p.) significantly strengthened its position in terms of the total imports, while Azerbaijan and Kazakhstan saw its share reduced by -8% and -18.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported insulating board in the CIS, comprising 64% of total imports. The second position in the ranking was held by Belarus ($X), with a 12% share of total imports. It was followed by Kazakhstan, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +2.0%. In the other countries, the average annual rates were as follows: Belarus (+0.4% per year) and Kazakhstan (-8.8% per year).

Import Prices by Country

The import price in the CIS stood at $X per cubic meter in 2022, with a decrease of -5.5% against the previous year. Overall, the import price showed a slight downturn. The growth pace was the most rapid in 2018 when the import price increased by 18% against the previous year. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Azerbaijan ($X per cubic meter) and Belarus ($X per cubic meter), while Russia ($X per cubic meter) and Kazakhstan ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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