Latvia: Coated Arc-Welding Electrode Market 2025

Coated Arc-Welding Electrode Market Size in Latvia

The Latvian coated arc-welding electrode market dropped dramatically to $X in 2022, waning by X% 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). Overall, consumption saw a deep downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports from Latvia

In 2022, overseas shipments of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, coated arc-welding electrode exports contracted dramatically to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Lithuania (X tons), Hong Kong SAR (X tons) and Estonia (X tons) were the main destinations of coated arc-welding electrode exports from Latvia, with a combined X% share of total exports. Russia, Spain and Sweden lagged somewhat behind, together comprising a further X%.

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

In value terms, Hong Kong SAR ($X), Lithuania ($X) and Russia ($X) were the largest markets for coated arc-welding electrode exported from Latvia worldwide, together comprising X% of total exports. Estonia, Spain and Sweden lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Spain, with a CAGR of X%, 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 coated arc-welding electrode export price amounted to $X per ton, falling by X% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coated arc-welding electrode export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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

Coated Arc-Welding Electrode Imports

Imports into Latvia

In 2022, supplies from abroad of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports recorded a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, coated arc-welding electrode imports contracted sharply to $X in 2022. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Finland (X tons), Ukraine (X tons) and Poland (X tons) were the main suppliers of coated arc-welding electrode imports to Latvia, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) constituted the largest supplier of coated base metal electrodes for electric arc-welding to Latvia, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Turkey (X% per year).

Import Prices by Country

The average coated arc-welding electrode import price stood at $X per ton in 2022, reducing by X% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coated arc-welding electrode import price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform