Lithuania: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Lithuania

The Lithuanian extruded solid rubber rod market contracted markedly to $X in 2022, which is down by -15% against the previous year. Overall, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced markedly in the following year.

Production of Extruded Solid Rubber Rods And Profiles in Lithuania

In value terms, extruded solid rubber rod production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Extruded solid rubber rod production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Lithuania

After two years of decline, shipments abroad of extruded solid rubber rods and profiles increased by 18% to X tons in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, extruded solid rubber rod exports fell to $X in 2022. In general, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +14.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 65%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Latvia (X tons), Uzbekistan (X tons) and Russia (X tons) were the main destinations of extruded solid rubber rod exports from Lithuania, with a combined 68% 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 Uzbekistan (with a CAGR of +178.4%), while the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), Estonia ($X) and Uzbekistan ($X) appeared to be the largest markets for extruded solid rubber rod exported from Lithuania worldwide, together accounting for 62% of total exports.

Among the main countries of destination, Uzbekistan, with a CAGR of +133.7%, saw the highest rates of growth with regard to 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

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, reducing by -19.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 38% against the previous year. The export price peaked at $X per ton in 2021, and then declined significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Norway ($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 Romania (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Lithuania

In 2022, the amount of extruded solid rubber rods and profiles imported into Lithuania fell modestly to X tons, flattening at 2021 figures. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 30%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod imports reached $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 19%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Poland (X tons) and Turkey (X tons) were the main suppliers of extruded solid rubber rod imports to Lithuania, together comprising 71% of total imports. Belarus, Italy, China, Sweden, Denmark, Finland and the Netherlands lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +34.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Lithuania, comprising 44% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports. It was followed by Turkey, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+9.9% per year) and Turkey (+11.9% per year).

Import Prices by Country

The average extruded solid rubber rod import price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 Denmark ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform