Latvia: Aluminium Tube Market 2024

Aluminium Tube Market Size in Latvia

The Latvian aluminium tube market fell markedly to $X in 2022, waning by -17.9% against the previous year. In general, consumption saw a abrupt decrease. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Aluminium Tube Production in Latvia

In value terms, aluminium tube production shrank rapidly to $X in 2022 estimated in export price. Overall, production saw a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 67% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Aluminium Tube Exports

Exports from Latvia

In 2022, shipments abroad of aluminium tubes and pipes decreased by -42.5% to X kg, falling for the second year in a row after two years of growth. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by 4,420% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, aluminium tube exports dropped rapidly to $X in 2022. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 3,519%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X kg), Switzerland (X kg) and Austria (X kg) were the main destinations of aluminium tube exports from Latvia, together comprising 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +1,514.3%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) emerged as the key foreign market for aluminium tubes and pipes exports from Latvia, comprising 37% of total exports. The second position in the ranking was held by Russia ($X), with a 13% share of total exports. It was followed by Austria, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland amounted to +1,504.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+41.9% per year) and Austria (+24.6% per year).

Export Prices by Country

In 2022, the average aluminium tube export price amounted to $X per ton, growing by 40% against the previous year. Overall, the export price posted a significant expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 206% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Russia ($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 Australia (+584.4%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Tube Imports

Imports into Latvia

In 2022, purchases abroad of aluminium tubes and pipes decreased by -26.3% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 1,095%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium tube imports reduced to $X in 2022. Overall, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,083%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of aluminium tube to Latvia, accounting for a 76% share of total imports. Moreover, aluminium tube imports from Lithuania exceeded the figures recorded by the second-largest supplier, Estonia (X kg), ninefold. The third position in this ranking was held by Germany (X kg), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania amounted to +83.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+51.8% per year) and Germany (+3.8% per year).

In value terms, Lithuania ($X) constituted the largest supplier of aluminium tubes and pipes to Latvia, comprising 71% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Estonia, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania amounted to +85.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.3% per year) and Estonia (+48.7% per year).

Import Prices by Country

The average aluminium tube import price stood at $X per ton in 2022, surging by 25% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform