Latvia: Ferro-Titanium And Ferro-Silico-Titanium Market 2024

Ferro-Titanium And Ferro-Silico-Titanium Market Size in Latvia

The Latvian ferro-titanium and ferro-silico-titanium market shrank rapidly to $X in 2023, with a decrease of X% against the previous year. Overall, consumption showed a abrupt decline. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Ferro-Titanium And Ferro-Silico-Titanium Production in Latvia

In value terms, ferro-titanium and ferro-silico-titanium production skyrocketed to $X in 2023 estimated in export price. Overall, production saw prominent growth. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Ferro-Titanium And Ferro-Silico-Titanium Exports

Exports from Latvia

For the fourth year in a row, Latvia recorded growth in overseas shipments of ferro-titanium and ferro-silico-titanium, which increased by X% to X tons in 2023. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ferro-titanium and ferro-silico-titanium exports skyrocketed to $X in 2023. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2022 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of ferro-titanium and ferro-silico-titanium exports from Latvia, together accounting for X% of total exports. Brazil, Slovakia, Finland and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Finland (with a CAGR of X.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ferro-titanium and ferro-silico-titanium exported from Latvia were Germany ($X), the United States ($X) and the Netherlands ($X), with a combined X% share of total exports. Brazil, Slovakia, Finland and the UK lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Finland, with a CAGR of X%, saw 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 ferro-titanium and ferro-silico-titanium export price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2022, and then fell notably in the following year.

Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the UK ($X per ton) and Finland ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Titanium And Ferro-Silico-Titanium Imports

Imports into Latvia

Ferro-titanium and ferro-silico-titanium imports into Latvia surged to X tons in 2023, increasing by X% on 2022. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.

In value terms, ferro-titanium and ferro-silico-titanium imports soared to $X in 2023. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to continue growth in the immediate term.

Imports by Country

Estonia (X tons), Russia (X tons) and Germany (X tons) were the main suppliers of ferro-titanium and ferro-silico-titanium imports to Latvia, with a combined X% share of total imports.

From 2018 to 2023, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-titanium and ferro-silico-titanium suppliers to Latvia were Estonia ($X), Russia ($X) and Germany ($X), with a combined X% share of total imports.

Russia, 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

The average ferro-titanium and ferro-silico-titanium import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price showed a deep setback. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Estonia ($X per ton) and Germany ($X per ton), while the price for Russia ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2018 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform