Latvia: Plastic Sanitary Ware Market 2024

Plastic Sanitary Ware Market Size in Latvia

In 2022, the Latvian plastic sanitary ware market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Plastic sanitary ware consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Plastic Sanitary Ware Production in Latvia

In value terms, plastic sanitary ware production declined notably to $X in 2022 estimated in export price. Over the period under review, production showed a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X%. Plastic sanitary ware production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Plastic Sanitary Ware Exports

Exports from Latvia

In 2022, after six years of growth, there was significant decline in shipments abroad of plastic baths, wash-basins, lavatory pans and covers and similar sanitary ware, when their volume decreased by X% to X units. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2021, and then dropped markedly in the following year.

In value terms, plastic sanitary ware exports expanded markedly to $X in 2022. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Lithuania (X units) was the main destination for plastic sanitary ware exports from Latvia, accounting for a X% share of total exports. Moreover, plastic sanitary ware exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X units), twofold. The third position in this ranking was taken by Russia (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Russia (X% per year).

In value terms, the largest markets for plastic sanitary ware exported from Latvia were Lithuania ($X), Russia ($X) and the United States ($X), together comprising X% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, recorded 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 plastic sanitary ware export price amounted to $X per unit, growing by X% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic sanitary ware export price increased by X% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Plastic Sanitary Ware Imports

Imports into Latvia

In 2022, supplies from abroad of plastic baths, wash-basins, lavatory pans and covers and similar sanitary ware decreased by X% to X units, falling for the second consecutive year after five years of growth. Over the period under review, imports, however, showed a strong expansion. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, plastic sanitary ware imports rose notably to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of plastic sanitary ware to Latvia, accounting for a X% share of total imports. Moreover, plastic sanitary ware imports from Germany exceeded the figures recorded by the second-largest supplier, Lithuania (X units), twofold. China (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and China (X% per year).

In value terms, Germany ($X), Lithuania ($X) and China ($X) appeared to be the largest plastic sanitary ware suppliers to Latvia, together comprising X% of total imports. Poland, the Czech Republic, Denmark, Bulgaria, Sweden, Estonia, Russia and Turkey lagged somewhat behind, together accounting for a further X%.

Bulgaria, with a CAGR of X%, recorded 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

The average plastic sanitary ware import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the Czech Republic ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform