Mineral wool market in Finland

Earlier Report Observations

In 2018, criticism of mineral wool as a major contributor to landfill waste in Finland sparked discussion about the sustainability of construction materials. This was followed in 2019 by the entry of international producers such as Rockwool and TekhnoNIKOL, which expanded market supply. During 2020, questions arose regarding EU calculation methods for assessing the thermal insulation properties of mineral wool, affecting technical building requirements. Over the 2018–2020 period, the market value of mineral wool in Finland declined from 103.7 million USD to 91.1 million USD.

The market rebounded from 2021 onward. That year, the industry association Finnisol launched a campaign to correct misconceptions about mineral wool’s moisture resistance and mold immunity, strengthening consumer confidence. Simultaneously, research and recycling projects like WOOL2LOOP improved the material’s environmental profile. In 2022, tightening environmental regulations and a shift in consumer preference toward energy‑efficient, sustainable insulation drove demand, pushing market value up to 140.5 million USD.

After the 2022 peak, the market adjusted: value decreased to 130.7 million USD in 2023 and further to 122.2 million USD in 2024.

Production mineral wool in Finland

In value, 2017-2020, K $ US

Finland's mineral wool production declined for the second year in a row. In 2020, output was valued at 50 812 thousand US dollars, which represents a 16.7% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 22.3%, with an average annual decline of 8.1%. The highest value was recorded in 2018 at 68 605 thousand US dollars, which also saw the largest increase of 4.9%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

Exports mineral wool from Finland

Exports in kind, t

The market exhibited volatility during the observed period. Mineral wool exports in Finland reached their lowest point in 2019 at 2 963 tonnes, followed by a peak in 2018 at 14 588 tonnes, resulting in a 4.9-fold difference between these years. In 2020, exports surged to 6 974 tonnes, marking a sharp increase of 135.4% compared to the previous year. The largest decline occurred in 2019, with a drop of 79.7%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Estonia and Sweden dominated Finland's mineral wool exports in volume, jointly accounting for 84.6% of total flows, while other countries held significantly smaller shares.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

In 2020, mineral wool exports from Finland amounted to 6 861 thousand US dollars, showing a year-over-year uptick of 13.5%. Between 2017 and 2020, exports decreased by 35.5%, equating to an annualized decline of 13.6%. The lowest value was recorded in 2019 at 6 045 thousand US dollars, while the highest was in 2018 at 12 234 thousand US dollars. The largest decline occurred in 2019 with a 50.6% drop, and the largest increase was in 2018 with a 15.1% rise.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

From 2017 to 2020, Estonia, Sweden, and Lithuania were the largest buyers of mineral wool from Finland in value terms, accounting for 42.5%, 34.8%, and 11.3% of exports, respectively. Together, they formed 88.6% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports mineral wool to Finland

Imports in kind, t

The market showed signs of volatility over the observed period. Imported mineral wool volumes in Finland hit a low in 2019 at 21 299 tonnes and peaked in 2018 at 47 297 tonnes, with a 2.2-fold difference between these years. In 2020, imports rose to 47 016 tonnes, up by 120.7% compared to the previous year. The largest decline was recorded in 2019, with a 55.0% decrease.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

Throughout 2017 to 2020, Russia, Poland, and Lithuania were the key sources for mineral wool imports into Finland in volume, accounting for 40.7%, 26.0%, and 8.8% of imports, respectively. Together, they made up 75.5% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

In 2020, mineral wool imports into Finland amounted to 47 109 thousand US dollars, reflecting a robust 11.6% increase compared to the previous year. Between 2017 and 2020, imports grew by 7%, equating to an annualized rate of 2.3%. The minimum value was recorded in 2019 at 42 202 thousand US dollars, while the maximum was in 2018 at 47 336 thousand US dollars. The largest decline occurred in 2019 with a 10.8% drop.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

From 2017 to 2020, Poland, Russia, and Sweden formed the main cluster of markets for mineral wool imports into Finland in value terms, with shares of 32.5%, 19.6%, and 18.1%, respectively. Together, they accounted for 70.2% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020