Latvia: Market for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber 2024

Market Size for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Latvia

The Latvian solid vulcanised rubber sheet market dropped rapidly to $X in 2022, waning by -18.5% against the previous year. Over the period under review, consumption saw a deep contraction. Solid vulcanised rubber sheet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Latvia

In value terms, solid vulcanised rubber sheet production declined remarkably to $X in 2022 estimated in export price. Overall, production showed a significant curtailment. The pace of growth was the most pronounced in 2021 with an increase of 192% against the previous year. Solid vulcanised rubber sheet production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Exports from Latvia

Solid vulcanised rubber sheet exports from Latvia surged to X tons in 2022, jumping by 41% compared with the year before. In general, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 307%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, solid vulcanised rubber sheet exports amounted to $X in 2022. Over the period under review, exports recorded noticeable growth. The pace of growth appeared the most rapid in 2020 with an increase of 199%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for solid vulcanised rubber sheet exports from Latvia, with a 63% share of total exports. Moreover, solid vulcanised rubber sheet exports to Germany exceeded the volume sent to the second major destination, Lithuania (X tons), fivefold. Estonia (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +81.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+42.0% per year) and Estonia (+2.3% per year).

In value terms, Germany ($X) emerged as the key foreign market for plates, sheets, strips for floor covering of solid vulcanised rubber exports from Latvia, comprising 43% of total exports. The second position in the ranking was held by Lithuania ($X), with an 18% share of total exports. It was followed by Estonia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +58.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+29.8% per year) and Estonia (+5.0% per year).

Export Prices by Country

The average solid vulcanised rubber sheet export price stood at $X per ton in 2022, which is down by -26.1% against the previous year. Overall, the export price, however, posted buoyant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 57%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Denmark ($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 Belarus (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Imports into Latvia

In 2022, the amount of plates, sheets, strips for floor covering of solid vulcanised rubber imported into Latvia stood at X tons, increasing by 6.5% compared with the previous year's figure. Overall, imports saw a tangible increase. The pace of growth appeared the most rapid in 2020 with an increase of 72%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, solid vulcanised rubber sheet imports declined to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 37%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Lithuania (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of solid vulcanised rubber sheet imports to Latvia, with a combined 62% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +47.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Poland ($X) appeared to be the largest solid vulcanised rubber sheet suppliers to Latvia, with a combined 60% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +40.6%, 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

The average solid vulcanised rubber sheet import price stood at $X per ton in 2022, shrinking by -12% against the previous year. Overall, the import price recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform