Latvia: Market for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds 2024

Market Size for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds in Latvia

After two years of growth, the Latvian market for organo-sulphur compounds and other organo-inorganic compounds decreased by -91.6% to $X in 2022. In general, consumption continues to indicate a dramatic shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds in Latvia

In value terms, production of organo-sulphur compounds and other organo-inorganic compounds shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by 199% against the previous year. Over the period under review, production of attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Exports from Latvia

In 2022, the amount of organo-sulphur compounds and other organo-inorganic compounds exported from Latvia skyrocketed to X tons, growing by 1,012% against the previous year. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of organo-sulphur compounds and other organo-inorganic compounds soared to $X in 2022. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Estonia (X tons) was the main destination for exports of organo-sulphur compounds and other organo-inorganic compounds from Latvia, with a 77% share of total exports. Moreover, exports of organo-sulphur compounds and other organo-inorganic compounds to Estonia exceeded the volume sent to the second major destination, the Netherlands (X tons), sevenfold. The United States (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+195.9% per year) and the United States (+134.0% per year).

In value terms, the largest markets for organo-sulphur compounds and other organo-inorganic compounds exported from Latvia were the Netherlands ($X), Estonia ($X) and the United States ($X), together comprising 80% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +212.7%, saw the highest growth rate of 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 export price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, shrinking by -37.3% against the previous year. Overall, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2013 an increase of 329%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, 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 the United States ($X per ton), while the average price for exports to Estonia ($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 the Netherlands (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Imports into Latvia

In 2022, approx. X tons of organo-sulphur compounds and other organo-inorganic compounds were imported into Latvia; falling by -7% against 2021 figures. Over the period under review, imports saw a deep downturn. The pace of growth was the most pronounced in 2020 when imports increased by 32%. Over the period under review, imports of attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of organo-sulphur compounds and other organo-inorganic compounds dropped markedly to $X in 2022. Overall, imports showed a perceptible decrease. The growth pace was the most rapid in 2020 when imports increased by 67% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest organo-sulphur compounds and other organo-inorganic compounds supplier to Latvia, accounting for a 31% share of total imports. Moreover, imports of organo-sulphur compounds and other organo-inorganic compounds from Belgium exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-1.8% per year) and Germany (-21.2% per year).

In value terms, the largest organo-sulphur compounds and other organo-inorganic compounds suppliers to Latvia were Germany ($X), Belgium ($X) and Lithuania ($X), together accounting for 52% of total imports. Poland, Ukraine, China, Estonia, Denmark, Spain and France lagged somewhat behind, together accounting for a further 35%.

Among the main suppliers, Ukraine, with a CAGR of +146.3%, recorded the highest growth rate of 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 import price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, falling by -8.9% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for organo-sulphur compounds and other organo-inorganic compounds increased by +48.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform