| Product Code: ETC11408821 | Publication Date: Apr 2025 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 65 | No. of Figures: 34 | No. of Tables: 19 |
In 2024, Latvia`s aromatic solvent import shipments saw a shift in concentration from moderate to low, indicating a more diversified import market. The top exporting countries to Latvia include Netherlands, Germany, Poland, Lithuania, and Estonia, highlighting a varied source of aromatic solvents. Despite a negative growth rate in 2024, the compound annual growth rate (CAGR) from 2020 to 2024 stood at a healthy 5.46%, suggesting overall positive performance in the market. This data indicates a dynamic and evolving landscape for aromatic solvent imports in Latvia.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Aromatic Solvent Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Aromatic Solvent Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Aromatic Solvent Market - Industry Life Cycle |
3.4 Latvia Aromatic Solvent Market - Porter's Five Forces |
3.5 Latvia Aromatic Solvent Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Latvia Aromatic Solvent Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Latvia Aromatic Solvent Market Revenues & Volume Share, By End Use Industry, 2021 & 2031F |
4 Latvia Aromatic Solvent Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for aromatic solvents in various industries such as paints, coatings, and adhesives. |
4.2.2 Growth in automotive and construction sectors driving the consumption of aromatic solvents. |
4.2.3 Favorable government regulations promoting the use of environmentally friendly solvents. |
4.3 Market Restraints |
4.3.1 Fluctuating prices of raw materials impacting the production cost of aromatic solvents. |
4.3.2 Volatility in the global economy affecting the overall demand and supply of aromatic solvents. |
4.3.3 Increasing competition from substitute products like bio-based solvents. |
5 Latvia Aromatic Solvent Market Trends |
6 Latvia Aromatic Solvent Market, By Types |
6.1 Latvia Aromatic Solvent Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Aromatic Solvent Market Revenues & Volume, By Type, 2021 - 2031F |
6.1.3 Latvia Aromatic Solvent Market Revenues & Volume, By Benzene-Based, 2021 - 2031F |
6.1.4 Latvia Aromatic Solvent Market Revenues & Volume, By Toluene-Based, 2021 - 2031F |
6.1.5 Latvia Aromatic Solvent Market Revenues & Volume, By Xylene-Based, 2021 - 2031F |
6.2 Latvia Aromatic Solvent Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Aromatic Solvent Market Revenues & Volume, By Paints & Coatings, 2021 - 2031F |
6.2.3 Latvia Aromatic Solvent Market Revenues & Volume, By Pharmaceuticals, 2021 - 2031F |
6.2.4 Latvia Aromatic Solvent Market Revenues & Volume, By Adhesives & Sealants, 2021 - 2031F |
6.3 Latvia Aromatic Solvent Market, By End Use Industry |
6.3.1 Overview and Analysis |
6.3.2 Latvia Aromatic Solvent Market Revenues & Volume, By Automotive, 2021 - 2031F |
6.3.3 Latvia Aromatic Solvent Market Revenues & Volume, By Healthcare, 2021 - 2031F |
6.3.4 Latvia Aromatic Solvent Market Revenues & Volume, By Construction, 2021 - 2031F |
7 Latvia Aromatic Solvent Market Import-Export Trade Statistics |
7.1 Latvia Aromatic Solvent Market Export to Major Countries |
7.2 Latvia Aromatic Solvent Market Imports from Major Countries |
8 Latvia Aromatic Solvent Market Key Performance Indicators |
8.1 Average selling price of aromatic solvents in Latvia. |
8.2 Percentage of market share held by key players in the aromatic solvent market. |
8.3 Number of new product developments or innovations in the aromatic solvent industry. |
8.4 Environmental impact indicators such as carbon footprint or emissions reduction initiatives. |
8.5 Adoption rate of eco-friendly or sustainable aromatic solvent solutions in the market. |
9 Latvia Aromatic Solvent Market - Opportunity Assessment |
9.1 Latvia Aromatic Solvent Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Latvia Aromatic Solvent Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 Latvia Aromatic Solvent Market Opportunity Assessment, By End Use Industry, 2021 & 2031F |
10 Latvia Aromatic Solvent Market - Competitive Landscape |
10.1 Latvia Aromatic Solvent Market Revenue Share, By Companies, 2024 |
10.2 Latvia Aromatic Solvent Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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