Report Update Nov 1, 2024

Latvia - Natural Stone Setts, Kerbstones and Flagstones - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Latvia

In 2022, the Latvian natural stone sett market increased by 48% to $X, rising for the third year in a row after two years of decline. In general, consumption saw a buoyant increase. Natural stone sett consumption peaked in 2022 and is expected to retain growth in years to come.

Natural Stone Sett Production in Latvia

In value terms, natural stone sett production contracted modestly to $X in 2022 estimated in export price. Overall, production enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2016 with an increase of 127%. Natural stone sett production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Natural Stone Sett Exports

Exports from Latvia

Natural stone sett exports from Latvia rose notably to X tons in 2022, increasing by 10% against the year before. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 5,441%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, natural stone sett exports surged to $X in 2022. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 4,796% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for natural stone sett exports from Latvia, with a 70% share of total exports. Moreover, natural stone sett exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania totaled +141.4%.

In value terms, Lithuania ($X) remains the key foreign market for natural stone setts, kerbstones and flagstones exports from Latvia, comprising 68% of total exports. The second position in the ranking was taken by Estonia ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania stood at +145.2%.

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, growing by 5.1% against the previous year. Overall, the export price, however, continues to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+3.3%).

Natural Stone Sett Imports

Imports into Latvia

In 2022, the amount of natural stone setts, kerbstones and flagstones imported into Latvia reduced to X tons, shrinking by -14.6% against 2021 figures. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 137% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, natural stone sett imports surged to $X in 2022. In general, imports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 99% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ukraine (X tons), Lithuania (X tons) and Sweden (X tons) were the main suppliers of natural stone sett imports to Latvia, together accounting for 97% 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 +760.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Ukraine ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Latvia, comprising 75% of total imports. The second position in the ranking was held by Lithuania ($X), with a 13% share of total imports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine stood at +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-3.6% per year) and China (-17.1% per year).

Import Prices by Country

The average natural stone sett import price stood at $X per ton in 2022, growing by 80% against the previous year. Over the period under review, the import price continues to indicate a moderate expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 93%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the natural stone sett market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23701210 - Natural stone setts, kerbstones and flagstones (excluding of slate)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023