Latvia: Market for Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm 2024

Market Size for Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm in Latvia

The Latvian market for self-adhesive plastic tape in rolls of a width under 20cm rose markedly to $X in 2022, growing by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Exports of Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm

Exports from Latvia

In 2022, the amount of self-adhesive plastic tape in rolls of a width under 20cm exported from Latvia expanded notably to X tons, growing by 7.7% on 2021 figures. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 42% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of self-adhesive plastic tape in rolls of a width under 20cm stood at $X in 2022. Over the period under review, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 70% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Russia (X tons) was the main destination for exports of self-adhesive plastic tape in rolls of a width under 20cm from Latvia, accounting for a 48% share of total exports. Moreover, exports of self-adhesive plastic tape in rolls of a width under 20cm to Russia exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. The third position in this ranking was held by Estonia (X tons), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+3.2% per year) and Estonia (+9.6% per year).

In value terms, Russia ($X), Lithuania ($X) and Estonia ($X) were the largest markets for self-adhesive plastic tape in rolls of a width under 20cm exported from Latvia worldwide, together accounting for 89% of total exports.

Russia, with a CAGR of +19.9%, saw 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 export price for self-adhesive plastic tape in rolls of a width under 20cm amounted to $X per ton, falling by -2.6% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for self-adhesive plastic tape in rolls of a width under 20cm increased by +9.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 30%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Finland ($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 Estonia (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Self-Adhesive Plastic Tape in Rolls of a Width Under 20cm

Imports into Latvia

Imports of self-adhesive plastic tape in rolls of a width under 20cm into Latvia expanded notably to X tons in 2022, increasing by 13% compared with 2021 figures. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +8.4% 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 +35.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 65%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of self-adhesive plastic tape in rolls of a width under 20cm expanded rapidly to $X in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Poland (X tons), Lithuania (X tons) and Germany (X tons) were the main suppliers of imports of self-adhesive plastic tape in rolls of a width under 20cm to Latvia, together comprising 57% of total imports. China, Italy, Estonia, Russia, Spain, the UK, Taiwan (Chinese), Greece, Finland and the Czech Republic lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +46.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of self-adhesive plastic tape in rolls of a width under 20cm to Latvia, comprising 30% of total imports. The second position in the ranking was held by Lithuania ($X), with a 13% share of total imports. It was followed by Poland, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+8.7% per year) and Poland (+14.9% per year).

Import Prices by Country

In 2022, the average import price for self-adhesive plastic tape in rolls of a width under 20cm amounted to $X per ton, reducing by -6.7% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 an increase of 53%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

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 ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform