The synthetic fibers market in Lithuania reached a value of 136.89 million Euros in 2023. Over the last two years, the market experienced moderate growth with a year-on-year increase of 1.41% in 2023 and 1.46% in 2022. Looking at a 5-year period ending in 2023, the market grew at a compound annual growth rate (CAGR) of 1.43%, indicating modest but steady expansion post-2020 recovery. However, the market faced a sharp decline of 16.21% in 2020 due to external influences, recovering with significant growth in 2021.
Future trends to watch for: - Increased demand for sustainable and eco-friendly synthetic fibers as environmental concerns rise. - Technological advancements providing cost-effective production and improved fiber quality. - Changing fashion trends influencing demand for specific types of synthetic fibers.
How does Lithuania rank in Synthetic Fibers Market Size Value?
| # | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,556,200,000 | 2023 | -2.53% | -3% | View data |
| 2 | 2 Italy | 1,541,400,000 | 2023 | -0.13% | +2.54% | View data |
| 3 | 3 Spain | 609,930,000 | 2023 | +0.27% | +4.32% | View data |
| 4 | 4 United Kingdom | 606,290,000 | 2023 | +1.12% | +0.7% | View data |
| 5 | 5 Poland | 593,840,000 | 2023 | +3.35% | +0.75% | View data |
| 7 | 7 Portugal | 279,560,000 | 2023 | +3.83% | +4.18% | View data |
| 8 | 8 Denmark | 224,480,000 | 2023 | +0.63% | -0.14% | View data |
| 9 | 9 Lithuania | 136,890,000 | 2023 | +1.41% | +1.43% | |
| 10 | 10 Hungary | 126,000,000 | 2023 | -0.29% | +1.64% | View data |
| 11 | 11 Estonia | 93,312,000 | 2023 | +4.94% | +5.42% | View data |
