Latvia: Market for Stainless Steel Seamless Pipe For Oil And Gas 2025

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Latvia

The Latvian stainless steel seamless pipe market skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, continues to indicate a prominent expansion. Stainless steel seamless pipe consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Latvia

In value terms, stainless steel seamless pipe production shrank to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Latvia

In 2022, stainless steel seamless pipe exports from Latvia dropped rapidly to X tons, reducing by X% compared with 2021 figures. Overall, exports showed a precipitous decrease. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports contracted markedly to $X in 2022. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X kg), Kazakhstan (X kg) and Finland (X kg) were the main destinations of stainless steel seamless pipe exports from Latvia, together comprising X% of total exports. Germany, Belgium, Estonia and Lithuania lagged somewhat behind, together accounting for a further X%.

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

In value terms, Kazakhstan ($X) emerged as the key foreign market for stainless steel seamless pipe for oil and gas exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Sweden ($X), with a X% share of total exports. It was followed by Finland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kazakhstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Finland (X% per year).

Export Prices by Country

In 2022, the average stainless steel seamless pipe export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price enjoyed a prominent expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Latvia

Stainless steel seamless pipe imports into Latvia skyrocketed to X tons in 2022, rising by X% on the year before. In general, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, stainless steel seamless pipe imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Estonia (X tons) constituted the largest stainless steel seamless pipe supplier to Latvia, with a X% share of total imports. Moreover, stainless steel seamless pipe imports from Estonia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Denmark (X tons), with a X% share.

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

In value terms, the largest stainless steel seamless pipe suppliers to Latvia were the UK ($X), the Netherlands ($X) and Estonia ($X), with a combined X% share of total imports. Denmark, Lithuania and Germany lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stainless steel seamless pipe import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, posted a pronounced increase. The growth pace was the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 the UK ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform