Latvia: Ethylene-Vinyl Acetate Copolymers Market 2024

Ethylene-Vinyl Acetate Copolymers Market Size in Latvia

In 2022, after four years of decline, there was growth in the Latvian ethylene-vinyl acetate copolymers market, when its value increased by 0.1% to $X. Overall, consumption, however, continues to indicate a perceptible contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Ethylene-Vinyl Acetate Copolymers Production in Latvia

In value terms, ethylene-vinyl acetate copolymers production reduced slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Ethylene-Vinyl Acetate Copolymers Exports

Exports from Latvia

In 2022, overseas shipments of ethylene-vinyl acetate copolymers in primary forms decreased by -25% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a noticeable contraction. The pace of growth appeared the most rapid in 2018 with an increase of 556%. The exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, ethylene-vinyl acetate copolymers exports fell to $X in 2022. In general, exports, however, posted slight growth. The pace of growth appeared the most rapid in 2018 with an increase of 749%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Uzbekistan (X tons), Azerbaijan (X tons) and Armenia (X tons) were the main destinations of ethylene-vinyl acetate copolymers exports from Latvia, together comprising 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Azerbaijan (with a CAGR of +580.0%), while the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Azerbaijan ($X) and Armenia ($X) appeared to be the largest markets for ethylene-vinyl acetate copolymers exported from Latvia worldwide, with a combined 82% share of total exports.

Azerbaijan, with a CAGR of +663.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ethylene-vinyl acetate copolymers export price amounted to $X per ton, rising by 24% against the previous year. In general, the export price enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Uzbekistan ($X per ton) and Azerbaijan ($X per ton), while the average price for exports to Ukraine ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene-Vinyl Acetate Copolymers Imports

Imports into Latvia

After two years of growth, purchases abroad of ethylene-vinyl acetate copolymers in primary forms decreased by -23.8% to X tons in 2022. Over the period under review, imports recorded a noticeable decline. The growth pace was the most rapid in 2017 with an increase of 360% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ethylene-vinyl acetate copolymers imports contracted to $X in 2022. Overall, imports, however, continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2017 with an increase of 285% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

Belgium (X tons), Lithuania (X tons) and Finland (X tons) were the main suppliers of ethylene-vinyl acetate copolymers imports to Latvia, together comprising 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +405.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Lithuania ($X) and Finland ($X) appeared to be the largest ethylene-vinyl acetate copolymers suppliers to Latvia, together comprising 98% of total imports.

Lithuania, with a CAGR of +440.6%, 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 ethylene-vinyl acetate copolymers import price stood at $X per ton in 2022, with an increase of 17% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethylene-vinyl acetate copolymers import price increased by +93.8% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 46% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lithuania ($X per ton) and Belgium ($X per ton), while the price for Finland ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform