Latvia: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Latvia

In 2022, the Latvian market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 2.3% to $X, rising for the third year in a row after two years of decline. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +40.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Latvia

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 44%. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from Latvia

For the fourth consecutive year, Latvia recorded growth in overseas shipments of glaziers putty, grafting putty, other mastics and painters' fillings, which increased by 9.6% to X tons in 2022. In general, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.8% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 39%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings skyrocketed to $X in 2022. Overall, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.4% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 33%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Poland (X tons), Belgium (X tons) and Lithuania (X tons) were the main destinations of exports of glaziers putty, grafting putty, other mastics and painters' fillings from Latvia, together accounting for 67% of total exports. Estonia, Turkey, India, Italy, the Czech Republic, Romania, Ukraine, Belarus and Russia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +762.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Belgium ($X) and Lithuania ($X) appeared to be the largest markets for glaziers, grafting putty and painters' filling exported from Latvia worldwide, with a combined 63% share of total exports. Turkey, India, Estonia, Italy, the Czech Republic, Romania, Ukraine, Russia and Belarus lagged somewhat behind, together comprising a further 32%.

Among the main countries of destination, India, with a CAGR of +765.3%, recorded the highest growth rate of 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

The average export price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $X per ton in 2022, growing by 11% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Estonia ($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 Russia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into Latvia

In 2022, overseas purchases of glaziers putty, grafting putty, other mastics and painters' fillings decreased by -2.4% to X tons, falling for the third year in a row after three years of growth. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume 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, imports decreased by -23.4% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 40% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +56.3% against 2014 indices. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Imports peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

Sweden (X tons), Poland (X tons) and Estonia (X tons) were the main suppliers of imports of glaziers putty, grafting putty, other mastics and painters' fillings to Latvia, together comprising 68% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +19.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glaziers, grafting putty and painters' filling suppliers to Latvia were Poland ($X), Estonia ($X) and Germany ($X), together accounting for 61% of total imports.

Poland, with a CAGR of +10.7%, saw the highest growth rate of 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 glaziers putty, grafting putty, other mastics and painters' fillings stood at $X per ton in 2022, surging by 2.4% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 glaziers putty, grafting putty, other mastics and painters' fillings increased by +69.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 37%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform