Lithuania: Isocyanates Market 2024

Isocyanates Market Size in Lithuania

In 2022, after two years of growth, there was decline in the Lithuanian isocyanates market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2021, and then reduced in the following year.

Isocyanates Production in Lithuania

In value terms, isocyanates production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. Isocyanates production peaked in 2022 and is likely to see gradual growth in years to come.

Isocyanates Exports

Exports from Lithuania

In 2022, isocyanates exports from Lithuania skyrocketed to X tons, surging by X% against 2021 figures. Overall, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, isocyanates exports surged to $X in 2022. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for isocyanates exports from Lithuania, accounting for a X% share of total exports. Moreover, isocyanates exports to Russia exceeded the volume sent to the second major destination, Georgia (X tons), more than tenfold. The third position in this ranking was held by Belarus (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (X% per year) and Belarus (X% per year).

In value terms, Russia ($X) emerged as the key foreign market for isocyanates exports from Lithuania, comprising X% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a X% share of total exports. It was followed by Georgia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and Georgia (X% per year).

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price showed a mild descent. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank rapidly in the following year.

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

Isocyanates Imports

Imports into Lithuania

After two years of growth, overseas purchases of isocyanates decreased by X% to X tons in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped modestly in the following year.

In value terms, isocyanates imports expanded to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Hungary (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of isocyanates imports to Lithuania, together accounting for X% of total imports. Finland and Poland lagged somewhat behind, together accounting for a further X%.

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

In value terms, Hungary ($X), Belgium ($X) and Germany ($X) appeared to be the largest isocyanates suppliers to Lithuania, with a combined X% share of total imports. Finland and Poland lagged somewhat behind, together comprising a further X%.

Finland, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average isocyanates import price amounted to $X per ton, surging by X% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Hungary ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform