Latvia: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Latvia

For the third year in a row, the Latvian saturated acyclic monocarboxylic acids market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated tangible 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, consumption increased by X% against 2019 indices. Saturated acyclic monocarboxylic acids consumption peaked in 2022 and is likely to see steady growth in years to come.

Production of Saturated Acyclic Monocarboxylic Acids in Latvia

In value terms, saturated acyclic monocarboxylic acids production stood at $X in 2022 estimated in export price. Overall, production, however, showed a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports from Latvia

In 2022, the amount of saturated acyclic monocarboxylic acids exported from Latvia shrank sharply to X tons, which is down by X% on 2021. Over the period under review, exports, however, showed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Russia (X tons) were the main destinations of saturated acyclic monocarboxylic acids exports from Latvia, together comprising X% of total exports.

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

In value terms, the largest markets for saturated acyclic monocarboxylic acids exported from Latvia were Russia ($X), Lithuania ($X) and Estonia ($X), with a combined X% share of total exports.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 saturated acyclic monocarboxylic acids export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price showed a noticeable expansion. 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 Ukraine ($X per ton), while the average price for exports to Lithuania ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports into Latvia

In 2022, overseas purchases of saturated acyclic monocarboxylic acids increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated measured growth from 2012 to 2022: its volume 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 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, saturated acyclic monocarboxylic acids imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of saturated acyclic monocarboxylic acids to Latvia, with a X% share of total imports. Moreover, saturated acyclic monocarboxylic acids imports from Lithuania exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Russia (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, Lithuania ($X) constituted the largest supplier of saturated acyclic monocarboxylic acids to Latvia, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with an X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average saturated acyclic monocarboxylic acids import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, import price indicated a notable expansion 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, saturated acyclic monocarboxylic acids import price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform