Latvia: Linoleum Manufacturing Machine Market 2024

Linoleum Manufacturing Machine Market Size in Latvia

The Latvian linoleum manufacturing machine market surged to $X in 2022, growing by 62% 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, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Linoleum Manufacturing Machine Exports

Exports from Latvia

After two years of growth, overseas shipments of machines used in the manufacture of linoleum or other floor coverings decreased by -17.2% to X units in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 675% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then contracted markedly in the following year.

In value terms, linoleum manufacturing machine exports plummeted to $X in 2022. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 988%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

Lithuania (X units), Estonia (X units) and Italy (X units) were the main destinations of linoleum manufacturing machine exports from Latvia, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +50.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linoleum manufacturing machine exported from Latvia were Estonia ($X), Lithuania ($X) and Italy ($X), together comprising 99% of total exports.

In terms of the main countries of destination, Estonia, with a CAGR of +40.1%, saw 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 linoleum manufacturing machine export price amounted to $X per unit, dropping by -60% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 242%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-5.8%), while the prices for the other major destinations experienced a decline.

Linoleum Manufacturing Machine Imports

Imports into Latvia

In 2022, after two years of growth, there was significant decline in purchases abroad of machines used in the manufacture of linoleum or other floor coverings, when their volume decreased by -5.6% to X units. In general, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2013 with an increase of 263%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, linoleum manufacturing machine imports totaled $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 222% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

South Korea (X units), Germany (X units) and Italy (X units) were the main suppliers of linoleum manufacturing machine imports to Latvia, together comprising 72% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +178.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest linoleum manufacturing machine suppliers to Latvia were Italy ($X), Germany ($X) and China ($X), together comprising 69% of total imports. South Korea, Estonia and Lithuania lagged somewhat behind, together accounting for a further 27%.

South Korea, with a CAGR of +264.5%, 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

In 2022, the average linoleum manufacturing machine import price amounted to $X per unit, picking up by 16% against the previous year. Overall, the import price, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2017 when the average import price increased by 63% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform