Latvia: Activated Carbon Market 2024

Activated Carbon Market Size in Latvia

The Latvian activated carbon market skyrocketed to $X in 2022, jumping by 104% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted modest growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Activated Carbon Exports

Exports from Latvia

In 2022, shipments abroad of activated carbon was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 105%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, activated carbon exports soared to $X in 2022. Over the period under review, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2017 when exports increased by 108%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Uzbekistan (X tons) was the main destination for activated carbon exports from Latvia, accounting for a 61% share of total exports. Moreover, activated carbon exports to Uzbekistan exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was taken by Lithuania (X kg), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uzbekistan stood at +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-7.0% per year) and Lithuania (-33.0% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for activated carbon exports from Latvia, comprising 51% of total exports. The second position in the ranking was taken by Russia ($X), with a 23% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Uzbekistan amounted to +86.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+6.1% per year) and Germany (+44.1% per year).

Export Prices by Country

In 2022, the average activated carbon export price amounted to $X per ton, picking up by 2.4% against the previous year. In general, the export price posted temperate growth. The most prominent rate of growth was recorded in 2021 an increase of 137%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Lithuania ($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 Uzbekistan (+43.0%), while the prices for the other major destinations experienced more modest paces of growth.

Activated Carbon Imports

Imports into Latvia

In 2022, overseas purchases of activated carbon were finally on the rise to reach X tons after three years of decline. In general, imports saw a temperate increase. The most prominent rate of growth was recorded in 2014 with an increase of 170% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, activated carbon imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 126% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Belarus (X tons) constituted the largest supplier of activated carbon to Latvia, with a 66% share of total imports. Moreover, activated carbon imports from Belarus exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from Belarus was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+31.7% per year) and the Netherlands (+10.9% per year).

In value terms, Poland ($X), the Netherlands ($X) and Belarus ($X) were the largest activated carbon suppliers to Latvia, together comprising 71% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +32.9%, recorded the highest rates of growth with regard to 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

In 2022, the average activated carbon import price amounted to $X per ton, shrinking by -52.8% against the previous year. In general, the import price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform