Lithuania: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Lithuania

In 2022, the Lithuanian glass fibre mat market increased by 51% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption recorded a buoyant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Glass Fibre Mat Production in Lithuania

In value terms, glass fibre mat production surged to $X in 2022 estimated in export price. In general, production showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 435% against the previous year. Over the period under review, production reached the maximum level in 2022 and is likely to see steady growth in years to come.

Glass Fibre Mat Exports

Exports from Lithuania

In 2022, shipments abroad of glass fibre mats decreased by -15% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2019 with an increase of 59%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glass fibre mat exports fell slightly to $X in 2022. In general, exports recorded a sharp downturn. The growth pace was the most rapid in 2020 with an increase of 89% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons), Latvia (X tons) and Kazakhstan (X tons) were the main destinations of glass fibre mat exports from Lithuania, with a combined 89% share of total exports. Russia, Ukraine, Estonia and Austria lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +53.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Latvia ($X) and Kazakhstan ($X) appeared to be the largest markets for glass fibre mat exported from Lithuania worldwide, with a combined 82% share of total exports. Russia, Ukraine, Estonia and Austria lagged somewhat behind, together accounting for a further 16%.

Ukraine, with a CAGR of +70.8%, 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

The average glass fibre mat export price stood at $X per ton in 2022, surging by 15% against the previous year. Overall, the export price saw prominent growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 Ukraine ($X per ton), while the average price for exports to Estonia ($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 Germany (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Mat Imports

Imports into Lithuania

Glass fibre mat imports into Lithuania fell dramatically to X tons in 2022, waning by -17.2% on 2021 figures. In general, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. As a result, imports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, glass fibre mat imports contracted sharply to $X in 2022. Over the period under review, imports, however, enjoyed measured growth. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

Egypt (X tons), the Czech Republic (X tons) and Poland (X tons) were the main suppliers of glass fibre mat imports to Lithuania, with a combined 67% share of total imports. Thailand, Turkey, Estonia, Spain, Belarus and China lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +35.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre mat suppliers to Lithuania were Egypt ($X), the Czech Republic ($X) and Poland ($X), together accounting for 54% of total imports. Thailand, Estonia, Spain, Turkey, China and Belarus lagged somewhat behind, together comprising a further 25%.

Spain, with a CAGR of +36.3%, saw 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 glass fibre mat import price stood at $X per ton in 2022, falling by -7.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform