Report Update Nov 1, 2024

Latvia - Borates - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Borates Market 2024

Borates Market Size in Latvia

In 2022, the Latvian borates market increased by 61% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Borates consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Borates Exports

Exports from Latvia

After two years of growth, overseas shipments of borates decreased by -37.8% to X tons in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 38,825%. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, borates exports shrank markedly to $X in 2022. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 23,064% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Poland (X tons) was the main destination for borates exports from Latvia, accounting for a 65% share of total exports. Moreover, borates exports to Poland exceeded the volume sent to the second major destination, Lithuania (X tons), threefold. Austria (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Poland totaled +47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+88.8% per year) and Austria (0.0% per year).

In value terms, Poland ($X) remains the key foreign market for borates exports from Latvia, comprising 68% of total exports. The second position in the ranking was held by Lithuania ($X), with a 22% share of total exports. It was followed by Austria, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland stood at +46.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+85.4% per year) and Austria (0.0% per year).

Export Prices by Country

The average borates export price stood at $X per ton in 2022, growing by 13% against the previous year. In general, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2014 when the average export price increased by 47%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 ($X per ton), while the average price for exports to Austria ($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 Belarus (+4.9%), while the prices for the other major destinations experienced a decline.

Borates Imports

Imports into Latvia

Borates imports into Latvia fell to X tons in 2022, which is down by -10.2% compared with the previous year. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, borates imports fell to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 57%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Turkey (X tons) was the main supplier of borates to Latvia, with a 95% share of total imports. Moreover, borates imports from Turkey exceeded the figures recorded by the second-largest supplier, Finland (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +16.2%.

In value terms, Turkey ($X) constituted the largest supplier of borates to Latvia, comprising 74% of total imports. The second position in the ranking was taken by Finland ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +15.8%.

Import Prices by Country

In 2022, the average borates import price amounted to $X per ton, picking up by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2020 an increase of 32%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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 Finland ($X per ton), while the price for Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+19.0%).

Source: IndexBox Platform

This report provides an in-depth analysis of the borates market 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 20136230 - Borates, peroxoborates (perborates)

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