Lithuania: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Lithuania

In 2022, the Lithuanian synthetic yarn market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Synthetic Yarn Production in Lithuania

In value terms, synthetic yarn production rose sharply to $X in 2022 estimated in export price. In general, production recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Synthetic Yarn Exports

Exports from Lithuania

In 2022, after six years of decline, there was growth in shipments abroad of yarn of synthetic or artificial staple fibers, when their volume increased by X% to X tons. In general, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic yarn exports amounted to $X in 2022. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Kazakhstan (X tons), Russia (X tons) and the Netherlands (X tons) were the main destinations of synthetic yarn exports from Lithuania, together accounting for X% of total exports.

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

In value terms, Russia ($X) remains the key foreign market for yarn of synthetic or artificial staple fibers exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total exports. It was followed by Belarus, with an X% share.

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

Export Prices by Country

In 2022, the average synthetic yarn export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a prominent 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, synthetic yarn export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

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

Synthetic Yarn Imports

Imports into Lithuania

In 2022, overseas purchases of yarn of synthetic or artificial staple fibers decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a slight reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic yarn imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of synthetic yarn imports to Lithuania, together accounting for X% of total imports. Austria, China, Latvia, Poland, the Netherlands, Portugal, Belgium, Ireland, Croatia and the Czech Republic lagged somewhat behind, together comprising a further X%.

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

In value terms, Italy ($X), Germany ($X) and Turkey ($X) appeared to be the largest synthetic yarn suppliers to Lithuania, with a combined X% share of total imports. Austria, China, the Czech Republic, Portugal, Ireland, Latvia, Poland, the Netherlands, Belgium and Croatia lagged somewhat behind, together comprising a further X%.

Croatia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 synthetic yarn import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated notable growth 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, synthetic yarn import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Czech Republic ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform