Latvia: Market for Floor, Wall Or Ceiling Coverings Of Plastics 2024

Market Size for Floor, Wall Or Ceiling Coverings Of Plastics in Latvia

In 2022, the Latvian market for floor, wall or ceiling coverings of plastics increased by 3.5% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Floor, Wall Or Ceiling Coverings Of Plastics

Exports from Latvia

In 2022, overseas shipments of floor, wall or ceiling coverings of plastics decreased by -7.6% to X square meters, falling for the second year in a row after five years of growth. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2014 when exports increased by 185%. The exports peaked at X square meters in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of floor, wall or ceiling coverings of plastics fell to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 116% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2021, and then shrank slightly in the following year.

Exports by Country

Lithuania (X square meters) was the main destination for exports of floor, wall or ceiling coverings of plastics from Latvia, with a 59% share of total exports. Moreover, exports of floor, wall or ceiling coverings of plastics to Lithuania exceeded the volume sent to the second major destination, Estonia (X square meters), fourfold. The third position in this ranking was taken by Denmark (X square meters), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +56.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+28.4% per year) and Denmark (+143.9% per year).

In value terms, Lithuania ($X), Denmark ($X) and Estonia ($X) constituted the largest markets for plastic floor, wall and ceiling coverings exported from Latvia worldwide, with a combined 85% share of total exports.

Denmark, with a CAGR of +101.7%, recorded the highest rates of growth with regard to the value of exports, among 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 export price for floor, wall or ceiling coverings of plastics amounted to $X per square meter, surging by 5.7% against the previous year. Overall, the export price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2013 an increase of 24% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per square meter), while the average price for exports to Ireland ($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 the United States (+116.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Floor, Wall Or Ceiling Coverings Of Plastics

Imports into Latvia

In 2022, overseas purchases of floor, wall or ceiling coverings of plastics decreased by -3.2% to X square meters for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 25% against the previous year. Imports peaked at X square meters in 2021, and then fell modestly in the following year.

In value terms, imports of floor, wall or ceiling coverings of plastics reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 30%. Over the period under review, imports of reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

Poland (X square meters), Belgium (X square meters) and the Netherlands (X square meters) were the main suppliers of imports of floor, wall or ceiling coverings of plastics to Latvia, together accounting for 54% of total imports. Germany, Lithuania, Denmark, China, France, Turkey, Hungary, Russia, Sweden and the Czech Republic lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +51.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic floor, wall and ceiling coverings suppliers to Latvia were Poland ($X), the Netherlands ($X) and Belgium ($X), together comprising 53% of total imports. Germany, Lithuania, Russia, Denmark, France, Sweden, China, Hungary, Turkey and the Czech Republic lagged somewhat behind, together accounting for a further 43%.

Russia, with a CAGR of +43.2%, saw the highest rates of growth with regard to the value of imports, among 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 import price for floor, wall or ceiling coverings of plastics stood at $X per square meter in 2022, picking up by 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum at $X per square meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Russia ($X per square meter), while the price for Turkey ($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 Lithuania (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform