Lithuania: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Lithuania

The Lithuanian unvulcanized rubber market expanded remarkably to $X in 2022, growing by 5.6% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Unvulcanized Rubber Production in Lithuania

In value terms, unvulcanized rubber production soared to $X in 2022 estimated in export price. Overall, production enjoyed a significant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Unvulcanized Rubber Exports

Exports from Lithuania

Unvulcanized rubber exports from Lithuania skyrocketed to X tons in 2022, with an increase of 43% on 2021. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 84%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, unvulcanized rubber exports surged to $X in 2022. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 69%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Chile (X tons), Mexico (X tons) and Sweden (X tons) were the main destinations of unvulcanized rubber exports from Lithuania, together comprising 47% of total exports. Peru, India, Australia, Brazil, Belarus, Russia, Latvia and Poland lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +31,317.3%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Sweden ($X) appeared to be the largest markets for unvulcanized rubber exported from Lithuania worldwide, with a combined 48% share of total exports. Russia, Australia, Belarus, Peru, India, Brazil, Latvia and Poland lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Peru, with a CAGR of +15,237.2%, recorded 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

The average unvulcanized rubber export price stood at $X per ton in 2022, falling by -7.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 11% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Russia ($X per ton), while the average price for exports to Latvia ($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 Russia (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Lithuania

In 2022, supplies from abroad of unvulcanized rubber and articles thereof decreased by -9% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 25%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, unvulcanized rubber imports reduced rapidly to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +61.7% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

Sweden (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of unvulcanized rubber imports to Lithuania, together accounting for 46% of total imports. China, Belgium, Italy, the United Arab Emirates, the Czech Republic, the Netherlands, Latvia, Turkey, France and the UK lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +93.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Poland ($X) constituted the largest unvulcanized rubber suppliers to Lithuania, together comprising 51% of total imports. Italy, Belgium, China, the Netherlands, the Czech Republic, Latvia, France, the United Arab Emirates, Turkey and the UK lagged somewhat behind, together comprising a further 38%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +75.7%, saw 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 unvulcanized rubber import price amounted to $X per ton, shrinking by -7.1% against the previous year. In general, the import price showed a pronounced slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 16%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform