Latvia: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Latvia

The Latvian wood chips and particles market soared to $X in 2022, increasing by 21% against the previous year. Over the period under review, consumption saw a significant expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Wood Chips And Particles in Latvia

In value terms, wood chips and particles production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild decline. Wood chips and particles production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Wood Chips And Particles

Exports from Latvia

In 2022, the amount of wood chips and particles exported from Latvia rose sharply to X cubic meters, growing by 8.8% on 2021. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 23%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, wood chips and particles exports soared to $X in 2022. In general, exports enjoyed a moderate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X cubic meters), Denmark (X cubic meters) and Finland (X cubic meters) were the main destinations of wood chips and particles exports from Latvia, with a combined 80% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +20.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood chips and particles exported from Latvia were Sweden ($X), Denmark ($X) and Finland ($X), with a combined 74% share of total exports.

Among the main countries of destination, Denmark, with a CAGR of +31.6%, 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 wood chips and particles export price stood at $X per cubic meter in 2022, picking up by 32% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average export price increased by 34%. 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.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per cubic meter), while the average price for exports to Finland ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Chips And Particles

Imports into Latvia

In 2022, overseas purchases of wood chips and particles decreased by -57.6% to X cubic meters, falling for the second consecutive year after three years of growth. In general, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 715% against the previous year. Imports peaked at X cubic meters in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wood chips and particles imports reduced to $X in 2022. Overall, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2018 when imports increased by 698%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Estonia (X cubic meters), Belarus (X cubic meters) and Lithuania (X cubic meters) were the main suppliers of wood chips and particles imports to Latvia, with a combined 80% share of total imports. Sweden, Russia and the UK lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +49.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Sweden ($X) appeared to be the largest wood chips and particles suppliers to Latvia, with a combined 81% share of total imports.

Sweden, with a CAGR of +37.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood chips and particles import price stood at $X per cubic meter in 2022, increasing by 124% against the previous year. In general, the import price showed notable growth. As a result, import price reached the peak level 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 Lithuania ($X per cubic meter), while the price for Belarus ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform