Latvia: Market for Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground 2024

Market Size for Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground in Latvia

The Latvian market for float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground expanded sharply to $X in 2022, with an increase of 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a remarkable increase. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Exports of Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground

Exports from Latvia

In 2022, shipments abroad of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground increased by 11% to X square meters, rising for the second year in a row after three years of decline. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 196%. Over the period under review, the exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout mass (body tinted), opacified, flashed or merely surface ground reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground soared to $X in 2022. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 210%. Over the period under review, the exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout mass (body tinted), opacified, flashed or merely surface ground reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X square meters) was the main destination for exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground from Latvia, with a 44% share of total exports. Moreover, exports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground to Estonia exceeded the volume sent to the second major destination, Ukraine (X square meters), threefold. The third position in this ranking was held by Russia (X square meters), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled +39.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-30.4% per year) and Russia (+181.8% per year).

In value terms, Estonia ($X) remains the key foreign market for float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground exports from Latvia, comprising 44% of total exports. The second position in the ranking was taken by Russia ($X), with an 18% share of total exports. It was followed by Ukraine, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Estonia stood at +46.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+201.8% per year) and Ukraine (-24.8% per year).

Export Prices by Country

In 2022, the average export price for float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground amounted to $X per square meter, increasing by 25% against the previous year. Overall, the export price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 111% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per square meter), while the average price for exports to Sweden ($X per square 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 (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground

Imports into Latvia

Imports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground into Latvia declined to X square meters in 2022, approximately equating 2021. Overall, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by 55%. As a result, imports attained the peak of X square meters, and then shrank modestly in the following year.

In value terms, imports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground surged to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 89%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Belgium (X square meters), Germany (X square meters) and Poland (X square meters) were the main suppliers of imports of float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground to Latvia, with a combined 71% share of total imports. Russia, Estonia, Belarus and Lithuania lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +67.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground suppliers to Latvia were Germany ($X), Belgium ($X) and Poland ($X), with a combined 69% share of total imports. Estonia, Russia, Lithuania and Belarus lagged somewhat behind, together comprising a further 30%.

Among the main suppliers, Estonia, with a CAGR of +54.0%, saw 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 float glass and surface ground glass, in sheets, non-wired, other than coloured throughout the mass (body tinted), opacified, flashed or merely surface ground amounted to $X per square meter, jumping by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The pace of growth was the most pronounced in 2021 when the average import price increased by 22%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per square meter), while the price for Belarus ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform