Latvia: Market for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Latvia

The Latvian market for flexible tubes, pipes and hoses of plastics, with fittings fell to $X in 2022, reducing by -13.5% against the previous year. Over the period under review, consumption, however, saw a prominent expansion. Consumption of peaked at $X in 2021, and then declined in the following year.

Production of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in Latvia

In value terms, production of flexible tubes, pipes and hoses of plastics, with fittings declined dramatically to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 101%. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Exports from Latvia

In 2022, exports of flexible tubes, pipes and hoses of plastics, with fittings from Latvia dropped notably to X tons, falling by -90.7% compared with the previous year's figure. In general, exports faced a precipitous decline. The most prominent rate of growth was recorded in 2021 when exports increased by 675%. Over the period under review, the exports of reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with fittings reduced sharply to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 1,293%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons) was the main destination for exports of flexible tubes, pipes and hoses of plastics, with fittings from Latvia, with a 81% share of total exports. Moreover, exports of flexible tubes, pipes and hoses of plastics, with fittings to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-26.0% per year) and Germany (-0.4% per year).

In value terms, Lithuania ($X) remains the key foreign market for flexible tubes, pipes and hoses of plastics, with fittings exports from Latvia, comprising 58% of total exports. The second position in the ranking was taken by Estonia ($X), with a 14% share of total exports. It was followed by Sweden, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-18.0% per year) and Sweden (-36.0% per year).

Export Prices by Country

In 2022, the average export price for flexible tubes, pipes and hoses of plastics, with fittings amounted to $X per ton, falling by -15.1% against the previous year. Over the period under review, the export price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 an increase of 80% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Germany ($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 Denmark (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Imports into Latvia

In 2022, overseas purchases of flexible tubes, pipes and hoses of plastics, with fittings decreased by -58.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 373%. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with fittings dropped sharply to $X in 2022. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 347%. As a result, imports attained the peak of $X, and then reduced rapidly in the following year.

Imports by Country

In 2022, Estonia (X tons) constituted the largest flexible tubes, pipes and hoses of plastics, with fittings supplier to Latvia, accounting for a 52% share of total imports. Moreover, imports of flexible tubes, pipes and hoses of plastics, with fittings from Estonia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by the Czech Republic (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Estonia amounted to +57.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.6% per year) and the Czech Republic (+38.6% per year).

In value terms, the largest flexible tubes, pipes and hoses of plastics, with fittings suppliers to Latvia were Germany ($X), Estonia ($X) and the Czech Republic ($X), with a combined 85% share of total imports.

In terms of the main suppliers, Estonia, with a CAGR of +52.6%, 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

In 2022, the average import price for flexible tubes, pipes and hoses of plastics, with fittings amounted to $X per ton, with a decrease of -4.1% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 flexible tubes, pipes and hoses of plastics, with fittings decreased by -12.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 88% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 Sweden ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform