Latvia: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Latvia

The Latvian wood-based panels market rose sharply to $X in 2022, growing by X% against the previous year. Overall, consumption enjoyed a strong expansion. Wood-based panels consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wood-Based Panels Production in Latvia

In value terms, wood-based panels production reduced to $X in 2022 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Wood-based panels production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Wood-Based Panels Exports

Exports from Latvia

After two years of growth, overseas shipments of wood-based panels decreased by X% to X cubic meters in 2022. In general, total exports indicated measured growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X cubic meters in 2021, and then dropped in the following year.

In value terms, wood-based panels exports rose remarkably to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X cubic meters), Lithuania (X cubic meters) and the UK (X cubic meters) were the main destinations of wood-based panels exports from Latvia, together comprising 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 United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood-based panels exported from Latvia were the United States ($X), Germany ($X) and Lithuania ($X), together accounting for X% of total exports.

The United States, with a CAGR of X%, 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 wood-based panels export price stood at $X per cubic meter in 2022, jumping by X% against the previous year. Overall, export price indicated a measured 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, wood-based panels export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Lithuania ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood-Based Panels Imports

Imports into Latvia

After three years of growth, overseas purchases of wood-based panels decreased by X% to X cubic meters in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at X cubic meters in 2021, and then reduced in the following year.

In value terms, wood-based panels imports totaled $X in 2022. In general, imports, however, enjoyed a prominent increase. 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 2022 and are expected to retain growth in the immediate term.

Imports by Country

Russia (X cubic meters), Lithuania (X cubic meters) and Belarus (X cubic meters) were the main suppliers of wood-based panels imports to Latvia, with a combined X% share of total imports.

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

In value terms, Russia ($X), Poland ($X) and Lithuania ($X) were the largest wood-based panels suppliers to Latvia, together accounting for X% of total imports. Belarus, Estonia, Finland and Germany lagged somewhat behind, together accounting for a further X%.

Belarus, 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 wood-based panels import price stood at $X per cubic meter in 2022, surging by X% against the previous year. Overall, import price indicated a buoyant 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, wood-based panels import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for Finland ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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