Latvia: Particle Board Market 2025

Particle Board Market Size in Latvia

In 2022, the Latvian particle board market increased by 24% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption continues to indicate resilient growth. Particle board consumption peaked in 2022 and is likely to continue growth in the immediate term.

Particle Board Production in Latvia

In value terms, particle board production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 27%. Particle board production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Particle Board Exports

Exports from Latvia

In 2022, shipments abroad of particle board decreased by -6.6% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 13%. As a result, the exports reached the peak of X cubic meters. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, particle board exports declined to $X in 2022. Over the period under review, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 68%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

The United States (X cubic meters), Lithuania (X cubic meters) and Finland (X cubic meters) were the main destinations of particle board exports from Latvia, with a combined 64% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +329.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Lithuania ($X) and Finland ($X) were the largest markets for particle board exported from Latvia worldwide, together comprising 62% of total exports.

The United States, with a CAGR of +363.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 particle board export price amounted to $X per cubic meter, dropping by -3.5% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, particle board export price increased by +50.0% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 56% against the previous year. As a result, the export price attained the peak level of $X per cubic meter, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per cubic meter), while the average price for exports to Poland ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Particle Board Imports

Imports into Latvia

In 2022, imports of particle board into Latvia contracted to X cubic meters, shrinking by -13.2% against 2021. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 97%. Over the period under review, imports attained the maximum at X cubic meters in 2021, and then shrank in the following year.

In value terms, particle board imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Belarus (X cubic meters), Poland (X cubic meters) and Russia (X cubic meters) were the main suppliers of particle board imports to Latvia, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +110.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest particle board suppliers to Latvia were Poland ($X), Belarus ($X) and Russia ($X), together comprising 85% of total imports.

Among the main suppliers, Russia, with a CAGR of +108.4%, saw 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

The average particle board import price stood at $X per cubic meter in 2022, with an increase of 5.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26% against the previous year. The import price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Estonia ($X per cubic meter), while the price for Belarus ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform