Lithuania: Market for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) 2024

Market Size for Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Lithuania

In 2022, after three years of decline, there was significant growth in the Lithuanian market for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels), when its value increased by 7.7% to $X. Overall, consumption, however, saw noticeable growth. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels) in Lithuania

In value terms, production of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) rose markedly to $X in 2022 estimated in export price. In general, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 37% against the previous year. Over the period under review, production of attained the maximum level in 2022 and is expected to retain growth in years to come.

Exports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Exports from Lithuania

In 2022, the amount of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) exported from Lithuania declined notably to X tons, with a decrease of -40.3% compared with the year before. In general, exports showed a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. Over the period under review, the exports of hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) declined remarkably to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Denmark (X tons) was the main destination for exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) from Lithuania, with a 31% share of total exports. Moreover, exports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) to Denmark exceeded the volume sent to the second major destination, Norway (X tons), twofold. The third position in this ranking was taken by Sweden (X tons), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark amounted to +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-17.3% per year) and Sweden (+14.9% per year).

In value terms, the largest markets for wooden builders' joinery and carpentry (excl. windows, doors, posts and beams, assembled flooring panels) exported from Lithuania were Norway ($X), Denmark ($X) and Sweden ($X), with a combined 57% share of total exports. Germany, the UK, Switzerland, France, Finland, the Netherlands, Latvia, Italy, the United States and Belgium lagged somewhat behind, together accounting for a further 35%.

Switzerland, with a CAGR of +68.6%, saw the highest growth rate of 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

In 2022, the average export price for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) amounted to $X per ton, jumping by 35% against the previous year. In general, the export price recorded a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 the UK (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Builders' Joinery And Carpentry Of Wood (Excl. Windows, Doors, Posts and Beams, Assembled Flooring Panels)

Imports into Lithuania

In 2022, overseas purchases of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) decreased by -31.4% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2015 when imports increased by 40%. Imports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, imports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) reduced markedly to $X in 2022. Over the period under review, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

Russia (X tons), Latvia (X tons) and Ukraine (X tons) were the main suppliers of imports of builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) to Lithuania, together accounting for 53% of total imports. Poland, Italy, Estonia, Finland and Belarus lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden builders' joinery and carpentry (excl. windows, doors, posts and beams, assembled flooring panels) suppliers to Lithuania were Russia ($X), Latvia ($X) and Poland ($X), together accounting for 53% of total imports. Ukraine, Italy, Estonia, Finland and Belarus lagged somewhat behind, together accounting for a further 36%.

Finland, with a CAGR of +29.9%, 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

The average import price for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) stood at $X per ton in 2022, rising by 12% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for builders' joinery and carpentry of wood (excl. windows, doors, posts and beams, assembled flooring panels) increased by +72.9% against 2017 indices. The pace of growth was the most pronounced in 2021 an increase of 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Latvia ($X per ton) and Italy ($X per ton), while the price for Finland ($X per ton) and Estonia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform