Latvia: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Latvia

In 2022, the Latvian potassium hydroxide market increased by 61% to $X, rising for the fifth consecutive year after five years of decline. Overall, consumption, however, showed a perceptible reduction. Potassium hydroxide consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Potassium Hydroxide Production in Latvia

In value terms, potassium hydroxide production soared to $X in 2022 estimated in export price. Over the period under review, production, however, faced a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 86% against the previous year. Potassium hydroxide production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Potassium Hydroxide Exports

Exports from Latvia

In 2022, exports of potassium hydroxide (caustic potash) from Latvia plummeted to X tons, waning by -42.8% on 2021 figures. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 6,370%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium hydroxide exports fell notably to $X in 2022. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 3,074% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Poland (X tons) and Hungary (X tons) were the main destinations of potassium hydroxide exports from Latvia, with a combined 78% share of total exports. Lithuania and Estonia lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +56.1%), while the other leaders experienced mixed trend patterns.

In value terms, Lithuania ($X), Germany ($X) and Poland ($X) were the largest markets for potassium hydroxide exported from Latvia worldwide, with a combined 77% share of total exports.

Among the main countries of destination, Lithuania, with a CAGR of +62.4%, 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 potassium hydroxide export price stood at $X per ton in 2022, picking up by 8.8% against the previous year. Overall, the export price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2015 an increase of 122% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 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 Estonia ($X per ton), while the average price for exports to Hungary ($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 Czech Republic (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Hydroxide Imports

Imports into Latvia

After three years of decline, supplies from abroad of potassium hydroxide (caustic potash) increased by 1.1% to X tons in 2022. In general, imports enjoyed resilient growth. The growth pace was the most rapid in 2013 when imports increased by 125% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium hydroxide imports surged to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 136%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The Czech Republic (X tons), Lithuania (X tons) and Russia (X tons) were the main suppliers of potassium hydroxide imports to Latvia, together comprising 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +43.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Czech Republic ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Latvia, comprising 66% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic stood at +43.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+10.3% per year) and Russia (-19.2% per year).

Import Prices by Country

The average potassium hydroxide import price stood at $X per ton in 2022, picking up by 46% against the previous year. Overall, import price indicated a perceptible increase 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, potassium hydroxide import price increased by +77.3% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+14.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform