Latvia: Furnace Carbon Electrode Market 2024

Furnace Carbon Electrode Market Size in Latvia

The Latvian furnace carbon electrode market contracted slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Furnace Carbon Electrode Production in Latvia

In value terms, furnace carbon electrode production fell to $X in 2022 estimated in export price. In general, production, however, saw prominent growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Furnace Carbon Electrode Exports

Exports from Latvia

In 2022, overseas shipments of carbon electrodes for furnaces increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, furnace carbon electrode exports skyrocketed to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Slovakia (X tons) was the main destination for furnace carbon electrode exports from Latvia, with a X% share of total exports. Moreover, furnace carbon electrode exports to Slovakia exceeded the volume sent to the second major destination, Lithuania (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Germany (X% per year).

In value terms, the largest markets for furnace carbon electrode exported from Latvia were Slovakia ($X), Lithuania ($X) and Germany ($X), together comprising X% of total exports.

Among the main countries of destination, Lithuania, with a CAGR of X%, saw the highest growth rate of 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 furnace carbon electrode export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price continues to indicate a sharp contraction. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. 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 Lithuania ($X per ton), while the average price for exports to Slovakia ($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 Lithuania (X%).

Furnace Carbon Electrode Imports

Imports into Latvia

In 2022, approx. X tons of carbon electrodes for furnaces were imported into Latvia; with an increase of X% compared with the previous year's figure. In general, imports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, furnace carbon electrode imports rose remarkably to $X in 2022. Overall, imports, however, saw a precipitous shrinkage. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of furnace carbon electrode to Latvia, accounting for a X% share of total imports. Moreover, furnace carbon electrode imports from Ukraine exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from Ukraine amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Lithuania (X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of carbon electrodes for furnaces to Latvia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Ukraine stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Lithuania (X% per year).

Import Prices by Country

The average furnace carbon electrode import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform