Latvia: Aluminium Foil Market 2025

Aluminium Foil Market Size in Latvia

In 2022, the Latvian aluminium foil market increased by 17% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a resilient increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Aluminium Foil Exports

Exports from Latvia

In 2022, overseas shipments of aluminium foil decreased by -30.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, aluminium foil exports contracted sharply to $X in 2022. In general, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2019 with an increase of 64% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Russia (X tons) were the main destinations of aluminium foil exports from Latvia, with a combined 85% share of total exports. Finland, Romania, Belgium and Belarus lagged somewhat behind, together comprising a further 8.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +141.4%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Russia ($X) constituted the largest markets for aluminium foil exported from Latvia worldwide, with a combined 84% share of total exports. Finland, Romania, Belgium and Belarus lagged somewhat behind, together accounting for a further 8.6%.

Among the main countries of destination, Belgium, with a CAGR of +155.0%, saw the highest rates of growth with regard to the value of exports, 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 aluminium foil export price amounted to $X per ton, with an increase of 5.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 39%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Russia ($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 Belgium (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Foil Imports

Imports into Latvia

In 2022, the amount of aluminium foil imported into Latvia contracted slightly to X tons, approximately reflecting the year before. Over the period under review, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 45% against the previous year. As a result, imports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, aluminium foil imports expanded markedly to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.3% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 42%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Turkey (X tons) and China (X tons) were the main suppliers of aluminium foil imports to Latvia, with a combined 54% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +105.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Turkey ($X) were the largest aluminium foil suppliers to Latvia, with a combined 55% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +67.8%, 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 aluminium foil import price stood at $X per ton in 2022, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 25% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($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 Czech Republic (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform