Latvia: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in Latvia

In 2022, the Latvian market for cellular plates, sheets and films of polyymers of styrene increased by 79% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, showed a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in Latvia

In value terms, production of cellular plates, sheets and films of polyymers of styrene declined to $X in 2022 estimated in export price. In general, production showed a deep slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 12% against the previous year. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports from Latvia

In 2022, overseas shipments of cellular plates, sheets and films of polyymers of styrene decreased by -5.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 75%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene rose remarkably to $X in 2022. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 87%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for exports of cellular plates, sheets and films of polyymers of styrene from Latvia, accounting for a 80% share of total exports. Moreover, exports of cellular plates, sheets and films of polyymers of styrene to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +14.0%.

In value terms, Lithuania ($X) remains the key foreign market for cellular plates, sheets and films of polyymers of styrene exports from Latvia, comprising 78% of total exports. The second position in the ranking was taken by Estonia ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to +16.9%.

Export Prices by Country

The average export price for cellular plates, sheets and films of polyymers of styrene stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price 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. Based on 2022 figures, export price for cellular plates, sheets and films of polyymers of styrene increased by +84.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+4.9%).

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports into Latvia

For the third consecutive year, Latvia recorded growth in supplies from abroad of cellular plates, sheets and films of polyymers of styrene, which increased by 21% to X tons in 2022. Overall, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene skyrocketed to $X in 2022. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of polystyrene cellular plates, sheets and films to Latvia, with a 75% share of total imports. Moreover, imports of cellular plates, sheets and films of polyymers of styrene from Lithuania exceeded the figures recorded by the second-largest supplier, Estonia (X tons), more than tenfold. The third position in this ranking was taken by the Czech Republic (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania totaled +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+7.7% per year) and the Czech Republic (+146.7% per year).

In value terms, Lithuania ($X) constituted the largest supplier of cellular plates, sheets and films of polyymers of styrene to Latvia, comprising 70% of total imports. The second position in the ranking was held by Estonia ($X), with a 9.1% share of total imports. It was followed by Germany, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+11.2% per year) and Germany (+11.0% per year).

Import Prices by Country

The average import price for cellular plates, sheets and films of polyymers of styrene stood at $X per ton in 2022, increasing by 9.2% 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, import price for cellular plates, sheets and films of polyymers of styrene increased by +37.4% against 2018 indices. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform