Latvia: Market for Plastic Doors, Windows And Their Frames 2024

Market Size for Plastic Doors, Windows And Their Frames in Latvia

The Latvian plastic doors and windows market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Plastic doors and windows consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Plastic Doors, Windows And Their Frames in Latvia

In value terms, plastic doors and windows production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 44% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Plastic Doors, Windows And Their Frames

Exports from Latvia

In 2022, shipments abroad of plastic doors, windows and their frames increased by 22% to X units, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2016 with an increase of 33% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic doors and windows exports contracted modestly to $X in 2022. Overall, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units), Lithuania (X units) and Sweden (X units) were the main destinations of plastic doors and windows exports from Latvia, with a combined 75% share of total exports. Switzerland, Canada, Hungary, the Czech Republic, Norway, Finland, Poland and Germany lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +94.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic doors and windows exported from Latvia were Estonia ($X), Lithuania ($X) and Sweden ($X), together accounting for 62% of total exports. Hungary, Switzerland, the Czech Republic, Canada, Norway, Germany, Poland and Finland lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, Hungary, with a CAGR of +119.9%, 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

The average plastic doors and windows export price stood at $X per unit in 2022, reducing by -20.2% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic doors and windows export price increased by +37.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 32% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while the average price for exports to Lithuania ($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 the Czech Republic (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Doors, Windows And Their Frames

Imports into Latvia

In 2022, after two years of decline, there was growth in purchases abroad of plastic doors, windows and their frames, when their volume increased by 4.5% to X units. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.3% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 91%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic doors and windows imports expanded rapidly to $X in 2022. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 121% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X units) constituted the largest supplier of plastic doors and windows to Latvia, with a 78% share of total imports. Moreover, plastic doors and windows imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X units), eightfold. Germany (X units) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+19.9% per year) and Germany (+18.3% per year).

In value terms, Poland ($X) constituted the largest supplier of plastic doors, windows and their frames to Latvia, comprising 79% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 9.8% share of total imports. It was followed by Germany, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+19.3% per year) and Germany (+13.1% per year).

Import Prices by Country

The average plastic doors and windows import price stood at $X per unit in 2022, picking up by 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2021 an increase of 23%. 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 Estonia ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform