| Product Code: ETC7918592 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Latvia`s phase change materials import market saw significant growth in 2024, with top exporters being Denmark, Germany, Belgium, Italy, and Lithuania. Despite a decrease in the Herfindahl-Hirschman Index (HHI) concentration level from very high to high in 2024, the market remains competitive. The impressive compound annual growth rate (CAGR) of 17.78% from 2020 to 2024 indicates a flourishing market. Furthermore, the substantial growth rate of 39.01% from 2023 to 2024 highlights the increasing demand for phase change materials in Latvia. This trend suggests promising opportunities for both domestic and international suppliers in the coming years.

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 Phase Change Materials Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Phase Change Materials Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Phase Change Materials Market - Industry Life Cycle |
3.4 Latvia Phase Change Materials Market - Porter's Five Forces |
3.5 Latvia Phase Change Materials Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 Latvia Phase Change Materials Market Revenues & Volume Share, By End-user Industry, 2021 & 2031F |
4 Latvia Phase Change Materials Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for energy-efficient buildings and infrastructure in Latvia |
4.2.2 Growing awareness about the benefits of phase change materials in energy conservation |
4.2.3 Government initiatives and regulations promoting the use of sustainable construction materials |
4.3 Market Restraints |
4.3.1 High initial cost of phase change materials compared to traditional building materials |
4.3.2 Limited availability of skilled workforce for installation and maintenance of phase change materials |
4.3.3 Lack of standardized building codes and guidelines for incorporating phase change materials in construction projects |
5 Latvia Phase Change Materials Market Trends |
6 Latvia Phase Change Materials Market, By Types |
6.1 Latvia Phase Change Materials Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Phase Change Materials Market Revenues & Volume, By Product Type, 2021- 2031F |
6.1.3 Latvia Phase Change Materials Market Revenues & Volume, By Organic, 2021- 2031F |
6.1.4 Latvia Phase Change Materials Market Revenues & Volume, By Inorganic, 2021- 2031F |
6.1.5 Latvia Phase Change Materials Market Revenues & Volume, By Bio-based, 2021- 2031F |
6.2 Latvia Phase Change Materials Market, By End-user Industry |
6.2.1 Overview and Analysis |
6.2.2 Latvia Phase Change Materials Market Revenues & Volume, By Building And Construction, 2021- 2031F |
6.2.3 Latvia Phase Change Materials Market Revenues & Volume, By Packaging, 2021- 2031F |
6.2.4 Latvia Phase Change Materials Market Revenues & Volume, By Textiles, 2021- 2031F |
6.2.5 Latvia Phase Change Materials Market Revenues & Volume, By Electronics, 2021- 2031F |
6.2.6 Latvia Phase Change Materials Market Revenues & Volume, By Transportation,, 2021- 2031F |
6.2.7 Latvia Phase Change Materials Market Revenues & Volume, By Other End-user Industries, 2021- 2031F |
7 Latvia Phase Change Materials Market Import-Export Trade Statistics |
7.1 Latvia Phase Change Materials Market Export to Major Countries |
7.2 Latvia Phase Change Materials Market Imports from Major Countries |
8 Latvia Phase Change Materials Market Key Performance Indicators |
8.1 Energy savings achieved through the use of phase change materials in buildings |
8.2 Number of new construction projects opting for phase change materials |
8.3 Percentage increase in the adoption of phase change materials in the construction sector |
8.4 Number of research and development initiatives focused on improving the efficiency and cost-effectiveness of phase change materials |
8.5 Environmental impact assessment of using phase change materials compared to traditional building materials |
9 Latvia Phase Change Materials Market - Opportunity Assessment |
9.1 Latvia Phase Change Materials Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 Latvia Phase Change Materials Market Opportunity Assessment, By End-user Industry, 2021 & 2031F |
10 Latvia Phase Change Materials Market - Competitive Landscape |
10.1 Latvia Phase Change Materials Market Revenue Share, By Companies, 2024 |
10.2 Latvia Phase Change Materials 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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