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Latvia - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatvia: Market for Iron and Steel Wire 2024
Market Size for Iron and Steel Wire in Latvia
In 2023, the Latvian iron and steel wire market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, continues to indicate resilient growth. Iron and steel wire consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.
Exports of Iron and Steel Wire
Exports from Latvia
In 2023, shipments abroad of iron and steel wire decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.
In value terms, iron and steel wire exports declined markedly to $X in 2023. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Estonia (X tons), Lithuania (X tons) and Kazakhstan (X tons) were the main destinations of iron and steel wire exports from Latvia, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kazakhstan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Estonia ($X), Lithuania ($X) and Kazakhstan ($X) constituted the largest markets for iron and steel wire exported from Latvia worldwide, together comprising X% of total exports.
Kazakhstan, 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, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average iron and steel wire export price amounted to $X per ton, rising by X% against the previous year. In general, the export price posted strong growth. The growth pace was the most rapid in 2018 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Uganda ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Steel Wire
Imports into Latvia
In 2023, the amount of iron and steel wire imported into Latvia declined dramatically to X tons, which is down by X% on 2022 figures. Over the period under review, imports saw a perceptible descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.
In value terms, iron and steel wire imports plummeted to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2022, and then dropped markedly in the following year.
Imports by Country
Lithuania (X tons), Turkey (X tons) and China (X tons) were the main suppliers of iron and steel wire imports to Latvia, together comprising X% of total imports. Ukraine, Poland, Sweden, the Czech Republic, Estonia, Finland, Italy and Denmark lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Lithuania ($X) constituted the largest supplier of iron and steel wire to Latvia, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by China, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and China (X% per year).
Import Prices by Country
In 2023, the average iron and steel wire import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed perceptible growth. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked in 2023 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.
From 2012 to 2023, 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
This report provides an in-depth analysis of the market for iron and steel wire 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 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
- Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
- Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless steel)
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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