Latvia: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Latvia

The Latvian m-xylene and xylenes market contracted to $X in 2022, which is down by -6.8% against the previous year. Overall, consumption continues to indicate a drastic downturn. X-xylene and xylenes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

M-Xylene And Xylenes Production in Latvia

In value terms, m-xylene and xylenes production declined to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 17% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

M-Xylene And Xylenes Exports

Exports from Latvia

M-xylene and xylenes exports from Latvia shrank dramatically to X kg in 2021, dropping by -38.7% against 2020 figures. In general, exports faced a dramatic descent. The growth pace was the most rapid in 2018 with an increase of 257%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, m-xylene and xylenes exports amounted to $X in 2021. Overall, exports recorded a dramatic downturn. The growth pace was the most rapid in 2020 when exports increased by 198% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X kg), Lithuania (X kg) and Germany (X kg) were the main destinations of m-xylene and xylenes exports from Latvia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +61.2%), while the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) emerged as the key foreign market for m-xylene and mixed xylene isomers exports from Latvia, comprising 64% of total exports. The second position in the ranking was taken by Germany ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+50.0% per year) and Lithuania (-48.5% per year).

Export Prices by Country

The average m-xylene and xylenes export price stood at $X per ton in 2021, surging by 67% against the previous year. Over the period under review, the export price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 577% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+14.0%), while the prices for the other major destinations experienced mixed trend patterns.

M-Xylene And Xylenes Imports

Imports into Latvia

In 2022, supplies from abroad of m-xylene and mixed xylene isomers decreased by -35% to X tons, falling for the second consecutive year after two years of growth. Overall, imports recorded a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes imports fell sharply to $X in 2022. Over the period under review, imports showed a precipitous slump. The pace of growth appeared the most rapid in 2020 when imports increased by 41%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), Finland (X tons) and Germany (X kg) were the main suppliers of m-xylene and xylenes imports to Latvia, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +47.8%), while imports for the other leaders experienced a decline.

In value terms, Finland ($X), Poland ($X) and Germany ($X) constituted the largest m-xylene and xylenes suppliers to Latvia, with a combined 94% share of total imports.

Finland, with a CAGR of +43.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average m-xylene and xylenes import price stood at $X per ton in 2022, growing by 1.8% against the previous year. In general, the import price saw resilient growth. The pace of growth appeared the most rapid in 2014 an increase of 145% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a 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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform