Report Update Nov 1, 2024

Latvia - Asphalt or Bitumen Articles - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Latvia

The Latvian asphalt or bitumen article market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Asphalt or bitumen article consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Latvia

Asphalt or bitumen article exports from Latvia soared to X tons in 2022, increasing by 30% on the previous year. Over the period under review, exports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 125%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, asphalt or bitumen article exports surged to $X in 2022. In general, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 164%. Over the period under review, the exports attained the maximum 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 Sweden (X tons) were the main destinations of asphalt or bitumen article exports from Latvia, together accounting for 96% 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 Sweden (with a CAGR of +160.3%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Sweden ($X) constituted the largest markets for asphalt or bitumen article exported from Latvia worldwide, with a combined 92% share of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +145.5%, recorded 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

The average asphalt or bitumen article export price stood at $X per ton in 2022, which is down by -6.8% against the previous year. Over the period under review, the export price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 an increase of 34%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Norway ($X per ton), while the average price for exports to Estonia ($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 Azerbaijan (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Asphalt or Bitumen Articles

Imports into Latvia

In 2022, purchases abroad of asphalt or bitumen articles decreased by -5.7% to X tons, falling for the third year in a row after three years of growth. In general, imports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2014 with an increase of 18%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, asphalt or bitumen article imports surged to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of asphalt or bitumen article imports to Latvia, together comprising 64% of total imports. Italy, Belarus, France, Slovakia and Finland lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +38.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Latvia were Russia ($X), Lithuania ($X) and Poland ($X), together accounting for 57% of total imports. Italy, France, Belarus, Slovakia and Finland lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, Italy, with a CAGR of +31.4%, 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

In 2022, the average asphalt or bitumen article import price amounted to $X per ton, growing by 31% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asphalt or bitumen article import price increased by +33.7% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the market for asphalt or bitumen article in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23991255 - Articles of asphalt or of similar materials, e.g. petroleum bitumen or coal tar pitch, in rolls
Prodcom 23991290 - Products based on bitumen (excluding in rolls)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023