Latvia: Market for Sulphides, Polysulphides, Dithionites And Sulphoxylates 2024

Market Size for Sulphides, Polysulphides, Dithionites And Sulphoxylates in Latvia

After three years of decline, the Latvian sulphides, dithionites and sulphoxylates market increased by 14% to $X in 2022. Overall, consumption, however, showed a noticeable reduction. Sulphides, dithionites and sulphoxylates consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Exports from Latvia

In 2022, after two years of growth, there was significant decline in shipments abroad of sulphides, polysulphides, dithionites and sulphoxylates, when their volume decreased by -96.7% to X kg. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 3,764% against the previous year. The exports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, sulphides, dithionites and sulphoxylates exports reduced sharply to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 6,153% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Ukraine (X kg) was the main destination for sulphides, dithionites and sulphoxylates exports from Latvia, accounting for a 79% share of total exports. Moreover, sulphides, dithionites and sulphoxylates exports to Ukraine exceeded the volume sent to the second major destination, Germany (X kg), fivefold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-99.1% per year) and Switzerland (0.0% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for sulphides, polysulphides, dithionites and sulphoxylates exports from Latvia, comprising 72% of total exports. The second position in the ranking was held by Switzerland ($X), with a 15% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Germany (-98.4% per year).

Export Prices by Country

The average sulphides, dithionites and sulphoxylates export price stood at $X per ton in 2022, picking up by 19% against the previous year. Over the period under review, the export price showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 84% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

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 Switzerland ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+82.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Imports into Latvia

In 2022, overseas purchases of sulphides, polysulphides, dithionites and sulphoxylates increased by 2.5% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 567%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sulphides, dithionites and sulphoxylates imports expanded markedly to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 296% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Poland (X tons) was the main sulphides, dithionites and sulphoxylates supplier to Latvia, with a 97% share of total imports. It was followed by Germany (X kg), with a 3.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +3.1%.

In value terms, Poland ($X) constituted the largest supplier of sulphides, polysulphides, dithionites and sulphoxylates to Latvia, comprising 63% of total imports. The second position in the ranking was taken by Germany ($X), with a 31% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +14.7%.

Import Prices by Country

In 2022, the average sulphides, dithionites and sulphoxylates import price amounted to $X per ton, surging by 3.6% against the previous year. Overall, the import price posted a prominent expansion. The growth pace was the most rapid in 2020 an increase of 415% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform