Estonia: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Estonia

The Estonian composite laboratory reagents market soared to $X in 2022, surging by 53% against the previous year. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Composite Laboratory Reagents Production in Estonia

In value terms, composite laboratory reagents production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Composite Laboratory Reagents Exports

Exports from Estonia

After three years of growth, overseas shipments of composite diagnostic or laboratory reagents decreased by -58.7% to X tons in 2022. In general, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 463% against the previous year. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, composite laboratory reagents exports reached $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 110%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Belarus (X tons) were the main destinations of composite laboratory reagents exports from Estonia, with a combined 59% share of total exports. Sweden, Finland, Belgium, Uzbekistan, Russia, the Netherlands, France, the United States and Poland lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +65.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Latvia ($X) and Finland ($X) constituted the largest markets for composite laboratory reagents exported from Estonia worldwide, with a combined 33% share of total exports. Lithuania, the Netherlands, the United States, Belgium, France, Sweden, Russia, Poland and Uzbekistan lagged somewhat behind, together comprising a further 32%.

The Netherlands, with a CAGR of +58.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, with an increase of 152% against the previous year. In general, the export price saw resilient growth. The growth pace was the most rapid in 2018 an increase of 872% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($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 (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Estonia

Composite laboratory reagents imports into Estonia soared to X tons in 2022, with an increase of 16% on 2021. In general, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 37%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, composite laboratory reagents imports skyrocketed to $X in 2022. Overall, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2020 when imports increased by 126%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Lithuania (X tons) and Germany (X tons) were the main suppliers of composite laboratory reagents imports to Estonia, with a combined 68% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +80.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Estonia were Lithuania ($X), the Netherlands ($X) and China ($X), with a combined 62% share of total imports.

In terms of the main suppliers, China, with a CAGR of +82.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 84%. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform