Latvia: Carbon Electrode Market 2024

Carbon Electrode Market Size in Latvia

The Latvian carbon electrode market fell to $X in 2022, which is down by -4.6% against the previous year. Over the period under review, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.0% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Carbon Electrode Production in Latvia

In value terms, carbon electrode production dropped to $X in 2022 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.5% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 140%. Carbon electrode production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Carbon Electrode Exports

Exports from Latvia

In 2022, shipments abroad of carbon electrodes increased by 520% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 4,453%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, carbon electrode exports dropped remarkably to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 2,087% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for carbon electrode exports from Latvia, accounting for a 85% share of total exports. Moreover, carbon electrode exports to Slovakia exceeded the volume sent to the second major destination, Lithuania (X kg), tenfold. Germany (X kg) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+47.3% per year) and Germany (+346.5% per year).

In value terms, the largest markets for carbon electrode exported from Latvia were Lithuania ($X), Slovakia ($X) and Germany ($X), together accounting for 55% of total exports.

Among the main countries of destination, Lithuania, with a CAGR of +50.3%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average carbon electrode export price amounted to $X per ton, shrinking by -89% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by 1,731% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Slovakia ($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 Estonia (+29.0%), while the prices for the other major destinations experienced mixed trend patterns.

Carbon Electrode Imports

Imports into Latvia

For the third consecutive year, Latvia recorded growth in purchases abroad of carbon electrodes, which increased by 21% to X tons in 2022. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 when imports increased by 78% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carbon electrode imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a precipitous setback. The growth pace was the most rapid in 2016 when imports increased by 76%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest supplier of carbon electrode to Latvia, accounting for a 64% share of total imports. Moreover, carbon electrode imports from Ukraine exceeded the figures recorded by the second-largest supplier, Estonia (X tons), threefold. China (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Ukraine amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+63.0% per year) and China (-23.5% per year).

In value terms, Estonia ($X), Ukraine ($X) and China ($X) were the largest carbon electrode suppliers to Latvia, together accounting for 87% of total imports.

Estonia, with a CAGR of +62.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average carbon electrode import price amounted to $X per ton, surging by 20% against the previous year. Over the period under review, the import price, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 44%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform