Estonia: Cement Market 2024

Cement Market Size in Estonia

In 2022, the Estonian cement market increased by 14% to $X, rising for the fourth year in a row after two years of decline. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +78.7% against 2018 indices. Cement consumption peaked in 2022 and is likely to continue growth in the immediate term.

Cement Production in Estonia

In value terms, cement production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by 40%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Cement Exports

Exports from Estonia

In 2022, the amount of cement exported from Estonia shrank remarkably to X tons, declining by -56.3% compared with the previous year's figure. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2021 when exports increased by 171%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cement exports reduced sharply to $X in 2022. In general, exports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 218% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Latvia (X tons) was the main destination for cement exports from Estonia, accounting for a 81% share of total exports. Moreover, cement exports to Latvia exceeded the volume sent to the second major destination, Norway (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Latvia amounted to -16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+54.2% per year) and Finland (-32.6% per year).

In value terms, Latvia ($X) remains the key foreign market for cement exports from Estonia, comprising 78% of total exports. The second position in the ranking was taken by Norway ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Latvia amounted to -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+44.4% per year) and Finland (-26.8% per year).

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, with an increase of 6.6% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement export price increased by +55.3% against 2016 indices. The growth pace was the most rapid in 2021 when the average export price increased by 18% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Latvia ($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 Russia (+52.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cement Imports

Imports into Estonia

For the eleventh year in a row, Estonia recorded growth in supplies from abroad of cement, which increased by 19% to X tons in 2022. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 64%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, cement imports soared to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 82% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Latvia (X tons) was the main supplier of cement to Estonia, accounting for a 97% share of total imports. It was followed by Turkey (X tons), with a 1.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia amounted to +20.6%.

In value terms, Latvia ($X) constituted the largest supplier of cement to Estonia, comprising 94% of total imports. The second position in the ranking was held by Turkey ($X), with a 3.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia stood at +22.6%.

Import Prices by Country

In 2022, the average cement import price amounted to $X per ton, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Latvia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+1.6%).

Source: IndexBox Platform