Latvia: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Latvia

In 2022, the Latvian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by X% to $X, rising for the second consecutive year after four years of decline. Overall, consumption continues to indicate a mild increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Latvia

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable contraction. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Latvia

In 2022, approx. X tons of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles were exported from Latvia; falling by X% on 2021. In general, exports recorded a deep slump. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles declined markedly to $X in 2022. Over the period under review, exports faced a deep contraction. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Armenia (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Latvia, accounting for a X% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Armenia exceeded the volume sent to the second major destination, North Macedonia (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Armenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and the United States (X% per year).

In value terms, the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Latvia were the United States ($X), Germany ($X) and the UK ($X), together comprising X% of total exports.

Among the main countries of destination, the United States, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, falling by X% against the previous year. In general, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Armenia ($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 Germany (X%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Latvia

In 2022, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imported into Latvia reduced notably to X tons, with a decrease of X% compared with the previous year's figure. Overall, imports saw a noticeable decline. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles reduced sharply to $X in 2022. In general, imports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of glass fibre filament, roving, and staple glass fibre article to Latvia, accounting for a X% share of total imports. Moreover, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Mexico exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Latvia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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