Latvia: Metal Self-Tapping Screw Market 2025

Metal Self-Tapping Screw Market Size in Latvia

The Latvian metal self-tapping screw market soared to $X in 2022, surging by 44% 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). In general, consumption posted a resilient increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Metal Self-Tapping Screw Exports

Exports from Latvia

In 2022, the amount of iron or steel self-tapping screws exported from Latvia stood at X tons, approximately mirroring the previous year. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 with an increase of 689% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal self-tapping screw exports dropped to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 239%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

Lithuania (X tons) was the main destination for metal self-tapping screw exports from Latvia, with a 66% share of total exports. Moreover, metal self-tapping screw exports to Lithuania exceeded the volume sent to the second major destination, Sweden (X tons), eightfold. The third position in this ranking was taken by Denmark (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+37.2% per year) and Denmark (+101.4% per year).

In value terms, Lithuania ($X) remains the key foreign market for iron or steel self-tapping screws exports from Latvia, comprising 56% of total exports. The second position in the ranking was held by Sweden ($X), with a 14% share of total exports. It was followed by Denmark, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania totaled +39.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+29.7% per year) and Denmark (+91.3% per year).

Export Prices by Country

The average metal self-tapping screw export price stood at $X per ton in 2022, waning by -8.4% against the previous year. Overall, the export price, however, continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2017 an increase of 121% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 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 Norway ($X per ton), while the average price for exports to Estonia ($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 Lithuania (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Tapping Screw Imports

Imports into Latvia

In 2022, the amount of iron or steel self-tapping screws imported into Latvia surged to X tons, increasing by 48% compared with 2021. In general, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal self-tapping screw imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when imports increased by 58% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Finland (X tons) constituted the largest metal self-tapping screw supplier to Latvia, accounting for a 35% share of total imports. Moreover, metal self-tapping screw imports from Finland exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Finland stood at +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+111.6% per year) and Taiwan (Chinese) (+4.9% per year).

In value terms, Finland ($X), Germany ($X) and Lithuania ($X) appeared to be the largest metal self-tapping screw suppliers to Latvia, together comprising 47% of total imports. China, Taiwan (Chinese), Sweden, Poland, Estonia, Vietnam and Thailand lagged somewhat behind, together comprising a further 44%.

Among the main suppliers, China, with a CAGR of +114.4%, recorded 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

The average metal self-tapping screw import price stood at $X per ton in 2022, reducing by -13.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+35.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform