Latvia: Silica Sand Market 2024

Silica Sand Market Size in Latvia

The Latvian silica sand market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Silica sand consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Silica Sand Production in Latvia

In value terms, silica sand production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 78% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Silica Sand Exports

Exports from Latvia

After five years of growth, shipments abroad of silica sands (quartz sands or industrial sands) decreased by -9% to X tons in 2022. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 417% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, silica sand exports soared to $X in 2022. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2015 when exports increased by 342% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Lithuania (X tons), Estonia (X tons) and Poland (X tons) were the main destinations of silica sand exports from Latvia, with a combined 96% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +78.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silica sand exported from Latvia were Lithuania ($X), Estonia ($X) and Finland ($X), with a combined 94% share of total exports.

Among the main countries of destination, Estonia, with a CAGR of +46.9%, recorded 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

In 2022, the average silica sand export price amounted to $X per ton, with an increase of 35% against the previous year. In general, the export price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 79%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Poland ($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 Finland (+1.5%), while the prices for the other major destinations experienced a decline.

Silica Sand Imports

Imports into Latvia

In 2022, the amount of silica sands (quartz sands or industrial sands) imported into Latvia stood at X tons, approximately mirroring 2021. Overall, imports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 54% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, silica sand imports soared to $X in 2022. In general, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +34.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest silica sand supplier to Latvia, with a 69% share of total imports. Moreover, silica sand imports from Lithuania exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fivefold. Sweden (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lithuania totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-10.2% per year) and Sweden (+50.6% per year).

In value terms, Lithuania ($X) constituted the largest supplier of silica sands (quartz sands or industrial sands) to Latvia, comprising 66% of total imports. The second position in the ranking was held by Estonia ($X), with a 7.4% share of total imports. It was followed by Poland, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-11.9% per year) and Poland (+12.6% per year).

Import Prices by Country

The average silica sand import price stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silica sand import price increased by +55.8% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 59% against the previous year. 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 ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+206.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform