Latvia: Market for Clays For Construction and Industrial Use 2024

Market Size for Clays For Construction and Industrial Use in Latvia

In 2022, the Latvian market for clays for construction and industrial use decreased by -16.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a perceptible curtailment. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Clays For Construction and Industrial Use

Exports from Latvia

In 2022, after two years of growth, there was significant decline in overseas shipments of clays for construction and industrial use, when their volume decreased by -11.3% to X tons. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of 1,760% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2021, and then fell in the following year.

In value terms, exports of clays for construction and industrial use contracted sharply to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 5,564%. The exports peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Italy (X tons), Estonia (X tons) and Lithuania (X tons) were the main destinations of exports of clays for construction and industrial use from Latvia, together comprising 95% of total exports. Belarus and the Netherlands lagged somewhat behind, together accounting for a further 5.2%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +176.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) emerged as the key foreign market for clays for construction and industrial use exports from Latvia, comprising 88% of total exports. The second position in the ranking was taken by Estonia ($X), with a 7.5% share of total exports. It was followed by the Netherlands, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +53.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+3.0% per year) and the Netherlands (+102.7% per year).

Export Prices by Country

In 2022, the average export price for clays for construction and industrial use amounted to $X per ton, declining by -26.1% against the previous year. Overall, the export price, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2018 an increase of 205%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Estonia ($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 (+21.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Clays For Construction and Industrial Use

Imports into Latvia

Imports of clays for construction and industrial use into Latvia reduced sharply to X tons in 2022, which is down by -29.6% on the previous year's figure. Over the period under review, imports recorded a pronounced curtailment. The growth pace was the most rapid in 2021 with an increase of 32%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of clays for construction and industrial use reduced to $X in 2022. In general, imports showed a pronounced contraction. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of clays for construction and industrial use to Latvia, accounting for a 68% share of total imports. Moreover, imports of clays for construction and industrial use from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Austria (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.2% per year) and Austria (+473.0% per year).

In value terms, the largest clays for construction and industrial use suppliers to Latvia were Sweden ($X), Austria ($X) and Germany ($X), with a combined 79% share of total imports.

Among the main suppliers, Austria, with a CAGR of +1,054.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for clays for construction and industrial use stood at $X per ton in 2022, surging by 26% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 clays for construction and industrial use increased by +63.7% against 2016 indices. 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 Austria ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+101.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform