Lithuania: Other Chemical Products Market 2024

Other Chemical Products Market Size in Lithuania

The Lithuanian other chemical products market fell rapidly to $X in 2022, shrinking by -23.7% against the previous year. Overall, consumption recorded a abrupt decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Other Chemical Products Production in Lithuania

In value terms, other chemical products production contracted rapidly to $X in 2022 estimated in export price. In general, production saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Other Chemical Products Exports

Exports from Lithuania

In 2016, overseas shipments of other chemical products increased by 16% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2016: its volume increased at an average annual rate of +8.3% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2016 figures, exports increased by +88.0% against 2014 indices. The most prominent rate of growth was recorded in 2015 with an increase of 62%. Over the period under review, the exports hit record highs in 2016 and are likely to see steady growth in years to come.

In value terms, other chemical products exports soared to $X in 2016. The total export value increased at an average annual rate of +7.4% from 2012 to 2016; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for other chemical products exports from Lithuania, with a 65% share of total exports. Moreover, other chemical products exports to Russia exceeded the volume sent to the second major destination, Latvia (X tons), fourfold. Belarus (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2016, the average annual rate of growth in terms of volume to Russia amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+58.3% per year) and Belarus (-3.9% per year).

In value terms, Russia ($X) remains the key foreign market for other chemical products exports from Lithuania, comprising 50% of total exports. The second position in the ranking was taken by Latvia ($X), with a 10% share of total exports. It was followed by Belarus, with an 8.7% share.

From 2012 to 2016, the average annual rate of growth in terms of value to Russia stood at +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+41.5% per year) and Belarus (-3.0% per year).

Export Prices by Country

In 2016, the average other chemical products export price amounted to $X per ton, picking up by 13% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 29%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2016, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Lithuania

In 2016, purchases abroad of other chemical products increased by 0.1% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2016; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 6.8%. Imports peaked in 2016 and are expected to retain growth in the immediate term.

In value terms, other chemical products imports surged to $X in 2016. The total import value increased at an average annual rate of +2.8% from 2012 to 2016; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; however, from 2015 to 2016, imports stood at a somewhat lower figure.

Imports by Country

In 2016, Germany (X tons) constituted the largest other chemical products supplier to Lithuania, with a 26% share of total imports. Moreover, other chemical products imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Finland (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2016, the average annual rate of growth in terms of volume from Germany stood at -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.3% per year) and Finland (+12.2% per year).

In value terms, the largest other chemical products suppliers to Lithuania were Germany ($X), Italy ($X) and France ($X), together accounting for 50% of total imports. Poland, the UK, Belgium, the Netherlands, China, Latvia, Estonia, Slovenia, Finland and Spain lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Spain, with a CAGR of +114.1%, recorded the highest growth rate of 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 2016, the average other chemical products import price amounted to $X per ton, growing by 26% against the previous year. Over the last four-year period, it increased at an average annual rate of +1.6%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2016, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2016, amid the top importers, the country with the highest price was France ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by France (+59.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform