Latvia: Market for Phenols And Other Oils And Oil Products 2024

Market Size for Phenols And Other Oils And Oil Products in Latvia

In 2022, the Latvian market for phenols and other oils and oil products increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a abrupt slump. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Phenols And Other Oils And Oil Products in Latvia

In value terms, production of phenols and other oils and oil products contracted to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Production of peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Phenols And Other Oils And Oil Products

Exports from Latvia

In 2022, after three years of growth, there was significant decline in overseas shipments of phenols and other oils and oil products, when their volume decreased by X% to X tons. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, exports of phenols and other oils and oil products fell dramatically to $X in 2022. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Belgium (X tons) was the main destination for exports of phenols and other oils and oil products from Latvia, with a X% share of total exports. It was followed by Russia (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Belgium was relatively modest.

In value terms, Belgium ($X) emerged as the key foreign market for phenols and other oils and oil products exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium was relatively modest.

Export Prices by Country

The average export price for phenols and other oils and oil products stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Phenols And Other Oils And Oil Products

Imports into Latvia

After four years of growth, supplies from abroad of phenols and other oils and oil products decreased by X% to X tons in 2022. Overall, imports, however, saw strong growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked at X tons in 2021, and then contracted dramatically in the following year.

In value terms, imports of phenols and other oils and oil products shrank markedly to $X in 2022. In general, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

Russia (X tons), Poland (X tons) and Denmark (X tons) were the main suppliers of imports of phenols and other oils and oil products to Latvia, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenols and other oils and oil products suppliers to Latvia were Russia ($X), Poland ($X) and Denmark ($X), with a combined X% share of total imports.

Russia, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average import price for phenols and other oils and oil products amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated a slight increase 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. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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