Latvia: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Latvia

In 2022, after two years of decline, there was significant growth in the Latvian market for wood residues, pellets and other agglomerates, when its value increased by X% to $X. Over the period under review, consumption posted a resilient increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Wood Residues, Pellets And Other Agglomerates in Latvia

In value terms, production of wood residues, pellets and other agglomerates amounted to $X in 2022 estimated in export price. Overall, production recorded a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports from Latvia

In 2022, overseas shipments of wood residues, pellets and other agglomerates decreased by X% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X cubic meters in 2021, and then contracted in the following year.

In value terms, exports of wood residues, pellets and other agglomerates declined modestly to $X in 2022. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports of hit record highs at $X in 2021, and then contracted slightly in the following year.

Exports by Country

The UK (X cubic meters), Denmark (X cubic meters) and Italy (X cubic meters) were the main destinations of exports of wood residues, pellets and other agglomerates from Latvia, together comprising X% of total exports.

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

In value terms, the UK ($X) remains the key foreign market for wood residues, pellets and other agglomerates exports from Latvia, comprising X% of total exports. The second position in the ranking was taken by Denmark ($X), with a X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Italy (X% per year).

Export Prices by Country

The average export price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2022, rising by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per cubic meter), while the average price for exports to Lithuania ($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 the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports into Latvia

In 2022, overseas purchases of wood residues, pellets and other agglomerates decreased by X% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports of reached the peak figure at X cubic meters in 2021, and then declined in the following year.

In value terms, imports of wood residues, pellets and other agglomerates declined to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Lithuania (X cubic meters), Belarus (X cubic meters) and Russia (X cubic meters) were the main suppliers of imports of wood residues, pellets and other agglomerates to Latvia, together comprising X% of total imports.

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

In value terms, Lithuania ($X) constituted the largest supplier of wood residues, pellets and other agglomerates to Latvia, comprising X% of total imports. The second position in the ranking was taken by Belarus ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

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

Import Prices by Country

In 2022, the average import price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per cubic meter, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per cubic meter), while the price for Belarus ($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 a decline.

Source: IndexBox Platform

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