Report Update Apr 1, 2024

Latvia - Tufted Textile Fabrics - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Tufted Textile Fabric Market 2024

Tufted Textile Fabric Market Size in Latvia

For the third year in a row, the Latvian tufted textile fabric market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption recorded a pronounced setback. The pace of growth was the most pronounced in 2020 with a decrease of X% against the previous year. Tufted textile fabric consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tufted Textile Fabric Production in Latvia

In value terms, tufted textile fabric production reduced to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Tufted Textile Fabric Exports

Exports from Latvia

In 2022, overseas shipments of tufted textile fabrics decreased by X% to X square meters, falling for the second year in a row after seven years of growth. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X square meters. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tufted textile fabric exports totaled $X in 2022. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X square meters) was the main destination for tufted textile fabric exports from Latvia, accounting for a X% share of total exports. Moreover, tufted textile fabric exports to the Netherlands exceeded the volume sent to the second major destination, Iceland (X square meters), ninefold.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at X%.

In value terms, the largest markets for tufted textile fabric exported from Latvia were Iceland ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average tufted textile fabric export price stood at $X per square meter in 2022, approximately reflecting the previous year. Overall, the export price saw a noticeable downturn. The growth pace was the most rapid in 2020 a decrease of X%. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2012; however, from 2013 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 Iceland ($X per square meter), while the average price for exports to the Netherlands totaled $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%).

Tufted Textile Fabric Imports

Imports into Latvia

In 2022, overseas purchases of tufted textile fabrics decreased by X% to X square meters for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X square meters, and then declined markedly in the following year.

In value terms, tufted textile fabric imports surged to $X in 2022. Overall, imports, however, saw a significant expansion. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X square meters) was the main supplier of tufted textile fabric to Latvia, with a X% share of total imports. It was followed by Lithuania (X square meters), with a X% share of total imports.

From 2017 to 2022, the average annual growth rate of volume from the Netherlands stood at X%.

In value terms, the Netherlands ($X) constituted the largest supplier of tufted textile fabrics to Latvia, comprising X% of total imports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total imports.

From 2017 to 2022, the average annual growth rate of value from the Netherlands stood at X.5%.

Import Prices by Country

The average tufted textile fabric import price stood at $X per square meter in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a drastic downturn. Over the period under review, average import prices reached the maximum at $X per square meter in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($X per square meter), while the price for the Netherlands amounted to $X per square meter.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tufted textile fabrics in the world?

The country with the largest volume of tufted textile fabric consumption was Japan, accounting for 52% of total volume. Moreover, tufted textile fabric consumption in Japan exceeded the figures recorded by the second-largest consumer, China, fivefold. The third position in this ranking was held by the United States, with a 4.2% share.

What are the largest producers of tufted textile fabrics in the world?

The country with the largest volume of tufted textile fabric production was China, comprising approx. 46% of total volume. Moreover, tufted textile fabric production in China exceeded the figures recorded by the second-largest producer, the United States, sixfold. India ranked third in terms of total production with a 6.5% share.

What are the leading suppliers of tufted textile fabrics to Latvia?

In value terms, the Netherlands $370) constituted the largest supplier of tufted textile fabrics to Latvia, comprising 75% of total imports. The second position in the ranking was held by Lithuania $126), with a 25% share of total imports.

What are the leading importers of tufted textile fabrics from Latvia?

In value terms, Iceland $126) and the Netherlands $103) constituted the largest markets for tufted textile fabric exported from Latvia worldwide.

What is the average export price for tufted textile fabrics in Latvia?

The average tufted textile fabric export price stood at $3.9 per square meter in 2022, remaining stable against the previous year.

What is the average import price for tufted textile fabrics in Latvia?

The average tufted textile fabric import price stood at $5.6 per square meter in 2022, increasing by 217% against the previous year.

This report provides an in-depth analysis of the tufted textile fabric market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13204500 - Tufted textile fabrics (excluding tufted carpets and other textile floor coverings)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023