Latvia - Silicones (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Silicone Market 2024
Silicone Market Size in Latvia
In 2023, after two years of growth, there was significant decline in the Latvian silicone market, when its value decreased by X% to $X. In general, consumption, however, saw a measured increase. As a result, consumption reached the peak level of $X, and then dropped markedly in the following year.
Silicone Exports
Exports from Latvia
In 2023, approx. X tons of silicones (in primary forms) were exported from Latvia; increasing by X% compared with 2022. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2022 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in the immediate term.
In value terms, silicone exports surged to $X in 2023. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2022 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in the near future.
Exports by Country
Russia (X tons) was the main destination for silicone exports from Latvia, accounting for a X% share of total exports. Moreover, silicone exports to Russia exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. The third position in this ranking was taken by Uzbekistan (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X.6% per year) and Uzbekistan (X% per year).
In value terms, Russia ($X) remains the key foreign market for silicones (in primary forms) exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X.4% per year) and Uzbekistan (X% per year).
Export Prices by Country
In 2023, the average silicone export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, silicone export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Kyrgyzstan ($X per ton) and Russia ($X per ton), while the average price for exports to Uzbekistan ($X per ton) and Estonia ($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 Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.
Silicone Imports
Imports into Latvia
In 2023, supplies from abroad of silicones (in primary forms) decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. Overall, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then fell markedly in the following year.
In value terms, silicone imports contracted markedly to $X in 2023. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then contracted dramatically in the following year.
Imports by Country
In 2023, Belgium (X tons) constituted the largest silicone supplier to Latvia, accounting for a X% share of total imports. Moreover, silicone imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Lithuania (X tons), with an X% share.
From 2012 to 2023, the average annual growth rate of volume from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Lithuania (X% per year).
In value terms, Belgium ($X) constituted the largest supplier of silicones (in primary forms) to Latvia, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Lithuania (X% per year).
Import Prices by Country
The average silicone import price stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price saw resilient growth. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the silicone 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 20165700 - Silicones, in primary forms
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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