Latvia: Non-Cellular Polystyrene Film Market 2024

Non-Cellular Polystyrene Film Market Size in Latvia

In 2022, the Latvian non-cellular polystyrene film market decreased by -2% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a remarkable increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped slightly in the following year.

Non-Cellular Polystyrene Film Exports

Exports from Latvia

In 2022, the amount of non-cellular polystyrene films, sheets, foil and strip exported from Latvia declined rapidly to X tons, falling by -18.3% compared with 2021 figures. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 212% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, non-cellular polystyrene film exports fell significantly to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 185% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for non-cellular polystyrene film exports from Latvia, accounting for a 60% share of total exports. Moreover, non-cellular polystyrene film exports to Estonia exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. The third position in this ranking was held by Malta (X tons), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Estonia amounted to +66.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+22.3% per year) and Malta (0.0% per year).

In value terms, Estonia ($X) remains the key foreign market for non-cellular polystyrene films, sheets, foil and strip exports from Latvia, comprising 67% of total exports. The second position in the ranking was held by Lithuania ($X), with a 23% share of total exports. It was followed by Malta, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia amounted to +72.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+24.8% per year) and Malta (0.0% per year).

Export Prices by Country

In 2022, the average non-cellular polystyrene film export price amounted to $X per ton, falling by -8.7% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-cellular polystyrene film export price increased by +97.0% against 2015 indices. The growth pace was the most rapid in 2014 when the average export price increased by 42%. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Malta ($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 Russia (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cellular Polystyrene Film Imports

Imports into Latvia

In 2022, after two years of growth, there was significant decline in purchases abroad of non-cellular polystyrene films, sheets, foil and strip, when their volume decreased by -8.4% to X tons. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 79%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, non-cellular polystyrene film imports declined slightly to $X in 2022. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 74%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Poland (X tons), Lithuania (X tons) and the Czech Republic (X tons) were the main suppliers of non-cellular polystyrene film imports to Latvia, together accounting for 77% of total imports. Germany, China, Ireland and Austria lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +79.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-cellular polystyrene film suppliers to Latvia were Poland ($X), the Czech Republic ($X) and Lithuania ($X), together accounting for 81% of total imports. Germany, China, Austria and Ireland lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, China, with a CAGR of +67.7%, 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

In 2022, the average non-cellular polystyrene film import price amounted to $X per ton, growing by 8.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 35% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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 Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform