Lithuania: Metal Chain Market 2024

Metal Chain Market Size in Lithuania

The Lithuanian metal chain market was estimated at $X in 2022, picking up by 7.8% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Chain Production in Lithuania

In value terms, metal chain production fell dramatically to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable contraction. The growth pace was the most rapid in 2019 when the production volume increased by 94% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Metal Chain Exports

Exports from Lithuania

In 2022, the amount of iron or steel chain exported from Lithuania plummeted to X tons, with a decrease of -24.6% against the previous year's figure. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 89%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports contracted remarkably to $X in 2022. In general, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 55%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Faroe Islands (X tons) and New Zealand (X tons) were the main destinations of metal chain exports from Lithuania, with a combined 55% share of total exports. Namibia, Russia, Latvia, Estonia and Belarus lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +21.7%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Russia ($X) and Faroe Islands ($X) appeared to be the largest markets for metal chain exported from Lithuania worldwide, with a combined 53% share of total exports. Namibia, New Zealand, Belarus, Latvia and Estonia lagged somewhat behind, together comprising a further 32%.

Among the main countries of destination, Estonia, with a CAGR of +19.6%, 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 metal chain export price amounted to $X per ton, dropping by -5.5% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal chain export price increased by +5.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Estonia ($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 Belarus (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Lithuania

Metal chain imports into Lithuania surged to X tons in 2022, increasing by 42% against the previous year's figure. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 78% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, metal chain imports soared to $X in 2022. Overall, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 81% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Sweden (X tons), China (X tons) and Germany (X tons) were the main suppliers of metal chain imports to Lithuania, with a combined 71% share of total imports. Belgium, Poland, Latvia, Ukraine, Norway and Denmark lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +40.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal chain suppliers to Lithuania were Sweden ($X), China ($X) and Belgium ($X), with a combined 68% share of total imports. Germany, Poland, Latvia, Ukraine, Norway and Denmark lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, Latvia, with a CAGR of +41.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, falling by -12.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 51% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform