Latvia: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in Latvia

The Latvian halogenated hydrocarbon derivative market totaled $X in 2022, picking up by 12% 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). Over the period under review, consumption saw buoyant growth. Halogenated hydrocarbon derivative consumption peaked in 2022 and is expected to retain growth in years to come.

Halogenated Hydrocarbon Derivative Exports

Exports from Latvia

In 2022, shipments abroad of halogenated derivatives of hydrocarbons increased by 110% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 349%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, halogenated hydrocarbon derivative exports soared to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,160% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons), Lithuania (X tons) and Poland (X tons) were the main destinations of halogenated hydrocarbon derivative exports from Latvia, with a combined 76% share of total exports. The United States, Germany, Russia and Italy lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +482.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for halogenated hydrocarbon derivative exported from Latvia were Italy ($X), Estonia ($X) and Poland ($X), together accounting for 70% of total exports. Lithuania, Germany, Russia and the United States lagged somewhat behind, together accounting for a further 17%.

Germany, with a CAGR of +466.3%, saw the highest growth rate of the value of exports, in terms of 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 halogenated hydrocarbon derivative export price amounted to $X per ton, with a decrease of -19.1% against the previous year. Over the period under review, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 292% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the 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 Italy ($X per ton), while the average price for exports to Lithuania ($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 Estonia (+19.7%), while the prices for the other major destinations experienced mixed trend patterns.

Halogenated Hydrocarbon Derivative Imports

Imports into Latvia

In 2022, supplies from abroad of halogenated derivatives of hydrocarbons increased by 72% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, halogenated hydrocarbon derivative imports shrank to $X in 2022. In general, imports posted a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 67% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest halogenated hydrocarbon derivative supplier to Latvia, with a 37% share of total imports. Moreover, halogenated hydrocarbon derivative imports from Russia exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+32.9% per year) and Poland (+37.6% per year).

In value terms, Poland ($X), China ($X) and the Czech Republic ($X) constituted the largest halogenated hydrocarbon derivative suppliers to Latvia, together comprising 57% of total imports. France, Lithuania, Russia, Germany, Finland, the Netherlands, Estonia and Belgium lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, France, with a CAGR of +38.5%, recorded the highest growth rate of 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 halogenated hydrocarbon derivative import price amounted to $X per ton, declining by -47.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 50% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform