Latvia: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Latvia

In 2022, the Latvian wood-based panels market increased by X% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient expansion 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 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood-Based Panels Production in Latvia

In value terms, wood-based panels production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Wood-Based Panels Exports

Exports from Latvia

In 2022, shipments abroad of wood-based panels decreased by X% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a notable expansion 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. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X cubic meters in 2021, and then fell in the following year.

In value terms, wood-based panels exports expanded remarkably to $X in 2022. Over the period under review, total exports indicated a buoyant expansion 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X cubic meters), Lithuania (X cubic meters) and the UK (X cubic meters) were the main destinations of wood-based panels exports from Latvia, with a combined X% 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 the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood-based panels exported from Latvia were the United States ($X), Germany ($X) and Lithuania ($X), with a combined X% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of X%, saw 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

The average wood-based panels export price stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Overall, export price indicated a tangible increase 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, wood-based panels export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Lithuania ($X per cubic meter) 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.

Wood-Based Panels Imports

Imports into Latvia

In 2022, purchases abroad of wood-based panels decreased by X% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X cubic meters in 2021, and then declined in the following year.

In value terms, wood-based panels imports totaled $X in 2022. Over the period under review, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Lithuania (X cubic meters), Russia (X cubic meters) and Belarus (X cubic meters) were the main suppliers of wood-based panels imports to Latvia, together accounting for X% of total imports.

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

In value terms, the largest wood-based panels suppliers to Latvia were Russia ($X), Poland ($X) and Lithuania ($X), with a combined X% share of total imports. Belarus, Estonia, Finland and Germany lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average wood-based panels import price stood at $X per cubic meter in 2022, surging by X% against the previous year. Over the period under review, import price indicated a temperate increase 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, wood-based panels import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 ($X per cubic meter), while the price for Finland ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform