Lithuania: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Lithuania

In 2022, after two years of growth, there was significant decline in the Lithuanian glass fibre fabrics market, when its value decreased by -6.5% to $X. Overall, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Glass Fibre Fabrics Production in Lithuania

In value terms, glass fibre fabrics production shrank remarkably to $X in 2022 estimated in export price. Overall, production faced a significant decline. The growth pace was the most rapid in 2014 when the production volume increased by 40%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports from Lithuania

In 2022, approx. X tons of glass fibre fabrics were exported from Lithuania; dropping by -30.2% on 2021. In general, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 192% against the previous year. As a result, the exports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, glass fibre fabrics exports shrank markedly to $X in 2022. Overall, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.1% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 62%. Over the period under review, the exports hit record highs at $X in 2021, and then declined sharply in the following year.

Exports by Country

Germany (X tons) was the main destination for glass fibre fabrics exports from Lithuania, accounting for a 43% share of total exports. Moreover, glass fibre fabrics exports to Germany exceeded the volume sent to the second major destination, Austria (X tons), twofold. The third position in this ranking was held by Estonia (X tons), with a 21% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +108.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+299.6% per year) and Estonia (+1.5% per year).

In value terms, the largest markets for glass fibre fabrics exported from Lithuania were Russia ($X), Estonia ($X) and Germany ($X), together comprising 70% of total exports. Austria and Latvia lagged somewhat behind, together accounting for a further 14%.

Austria, with a CAGR of +214.2%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 fabrics export price stood at $X per ton in 2022, with an increase of 22% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The export price peaked at $X per ton in 2016; however, from 2017 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 ($X per ton), while the average price for exports to Germany ($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 (+10.1%), while the prices for the other major destinations experienced a decline.

Glass Fibre Fabrics Imports

Imports into Lithuania

In 2022, supplies from abroad of glass fibre fabrics decreased by -10.3% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 48%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, glass fibre fabrics imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 38%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

The Czech Republic (X tons), Latvia (X tons) and Poland (X tons) were the main suppliers of glass fibre fabrics imports to Lithuania, together accounting for 80% of total imports. Belgium, Egypt, Estonia, North Macedonia, the UK and Turkey lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +23.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre fabrics suppliers to Lithuania were the Czech Republic ($X), Belgium ($X) and Latvia ($X), with a combined 68% share of total imports. Poland, Estonia, North Macedonia, the UK, Egypt and Turkey lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, North Macedonia, with a CAGR of +24.2%, 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

The average glass fibre fabrics import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2013 an increase of 15% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 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 Belgium ($X per ton), while the price for Egypt ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform