Key Market Indicators
Latvia's pigment export is projected to climb to approximately 74,000 kilograms by 2028, marking a steady increase from around 66,000 kilograms in 2023. This growth represents a compound annual growth rate (CAGR) of 1.9% per year. The country's pigment supply has seen a consistent rise of 4.6% annually since 1999. In 2023, Latvia ranked 47th in the world for pigment exports, with Australia surpassing it to achieve the same export volume. Leading the global rankings were Germany, Saudi Arabia, and China, occupying the second, third, and fourth positions, respectively. On the import front, Latvia is expected to see its pigment imports grow to roughly 208,000 kilograms by 2028, up from about 192,000 kilograms in 2023. This increase reflects an average annual growth rate of 1.3%. Since 1999, Latvia's pigment demand has risen by 5.2% each year.
