Latvia: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Latvia

In 2022, the Latvian glass fibre and article market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in Latvia

In value terms, glass fibre and article production amounted to $X in 2022 estimated in export price. Overall, production showed a slight curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Glass fibre and article production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Latvia

Glass fibre and article exports from Latvia dropped notably to X tons in 2022, which is down by X% against the previous year. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, glass fibre and article exports reduced notably to $X in 2022. Over the period under review, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Germany (X tons), Armenia (X tons) and the United States (X tons) were the main destinations of glass fibre and article exports from Latvia, with a combined X% share of total exports. Poland, Italy, Bulgaria, the UK, North Macedonia, France, Croatia, Lithuania, Romania and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for glass fibre and article exported from Latvia were Germany ($X), the United States ($X) and Italy ($X), together accounting for X% of total exports. Poland, the UK, Bulgaria, South Korea, France, Lithuania, Croatia, Romania, North Macedonia and Armenia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 glass fibre and article export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

Imports of Glass Fibres and Glass Fibre Articles

Imports into Latvia

In 2022, approx. X tons of glass fibres and glass fibre articles were imported into Latvia; waning by X% on the year before. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, glass fibre and article imports dropped sharply to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Finland (X tons), Germany (X tons) and Mexico (X tons) were the main suppliers of glass fibre and article imports to Latvia, together comprising X% of total imports. The Czech Republic, Poland, Lithuania, the UK, China, Estonia, Belgium, the Netherlands, Slovakia and Denmark lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest glass fibre and article suppliers to Latvia were Germany ($X), Finland ($X) and Mexico ($X), together comprising X% of total imports. The UK, the Czech Republic, China, Denmark, Poland, Estonia, Lithuania, Belgium, the Netherlands and Slovakia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X%, 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 glass fibre and article import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform