Latvia: Market for Wood Chips And Particles 2025

Market Size for Wood Chips And Particles in Latvia

In 2022, the Latvian wood chips and particles market decreased by -2% to $X, falling for the third consecutive year after three years of growth. In general, consumption posted a significant increase. Wood chips and particles consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Wood Chips And Particles in Latvia

In value terms, wood chips and particles production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced expansion. The growth pace was the most rapid in 2018 with an increase of 41%. Wood chips and particles production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Wood Chips And Particles

Exports from Latvia

In 2022, exports of wood chips and particles from Latvia rose remarkably to X cubic meters, with an increase of 5.3% on the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 23%. The exports peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wood chips and particles exports skyrocketed to $X in 2022. In general, exports enjoyed a noticeable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X cubic meters), Finland (X cubic meters) and Denmark (X cubic meters) were the main destinations of wood chips and particles exports from Latvia, together accounting for 78% 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 Denmark (with a CAGR of +18.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood chips and particles exported from Latvia were Sweden ($X), Denmark ($X) and Finland ($X), together accounting for 74% of total exports.

Denmark, with a CAGR of +31.6%, recorded the highest rates of growth with regard to 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

The average wood chips and particles export price stood at $X per cubic meter in 2022, jumping by 36% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 2018 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per cubic meter), while the average price for exports to Estonia ($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 Denmark (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Chips And Particles

Imports into Latvia

In 2022, overseas purchases of wood chips and particles decreased by -59.1% to X cubic meters, falling for the second year in a row after three years of growth. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 715% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, wood chips and particles imports reduced to $X in 2022. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 698% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Estonia (X cubic meters), Belarus (X cubic meters) and Lithuania (X cubic meters) were the main suppliers of wood chips and particles imports to Latvia, with a combined 77% share of total imports. Sweden, Russia and the UK lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +49.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Estonia ($X) and Sweden ($X) appeared to be the largest wood chips and particles suppliers to Latvia, together accounting for 81% of total imports.

Sweden, with a CAGR of +37.0%, recorded the highest growth rate of 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 chips and particles import price stood at $X per cubic meter in 2022, with an increase of 132% against the previous year. Overall, the import price posted a perceptible increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per cubic meter), while the price for Belarus ($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 Lithuania (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform