Sri Lanka: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Sri Lanka

The Sri Lankan diethylene glycol and digol market soared to $X in 2021, jumping by 71% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports from Sri Lanka

Diethylene glycol and digol exports from Sri Lanka fell rapidly to X kg in 2021, declining by -56.4% against the previous year's figure. In general, exports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2015 when exports increased by 300% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, diethylene glycol and digol exports declined markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible increase. The growth pace was the most rapid in 2015 with an increase of 357% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X kg) was the main destination for diethylene glycol and digol exports from Sri Lanka, with a 74% share of total exports. Moreover, diethylene glycol and digol exports to Saudi Arabia exceeded the volume sent to the second major destination, Maldives (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia totaled -30.7%.

In value terms, Saudi Arabia ($X) emerged as the key foreign market for X-oxydiethanol (diethylene glycol, digol) exports from Sri Lanka, comprising 86% of total exports. The second position in the ranking was held by Maldives ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at -21.0%.

Export Prices by Country

In 2021, the average diethylene glycol and digol export price amounted to $X per ton, surging by 88% against the previous year. In general, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diethylene glycol and digol export price increased by +117.5% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Maldives totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+13.7%), while the prices for the other major destinations experienced a decline.

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports into Sri Lanka

In 2021, approx. X tons of X-oxydiethanol (diethylene glycol, digol) were imported into Sri Lanka; with an increase of 43% on the previous year's figure. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 172% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, diethylene glycol and digol imports skyrocketed to $X in 2021. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 127% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

India (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons) were the main suppliers of diethylene glycol and digol imports to Sri Lanka, with a combined 68% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +88.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diethylene glycol and digol suppliers to Sri Lanka were India ($X), Taiwan (Chinese) ($X) and Malaysia ($X), together comprising 70% of total imports.

In terms of the main suppliers, India, with a CAGR of +87.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diethylene glycol and digol import price stood at $X per ton in 2021, with an increase of 28% against the previous year. In general, the import price, however, showed a noticeable decline. The growth pace was the most rapid in 2014 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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