Sri Lanka: Activated Carbon Market 2024

Activated Carbon Market Size in Sri Lanka

In 2022, after four years of growth, there was significant decline in the Sri Lankan activated carbon market, when its value decreased by -52.7% to $X. Over the period under review, consumption saw a noticeable setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Activated Carbon Production in Sri Lanka

In value terms, activated carbon production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 29%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Activated Carbon Exports

Exports from Sri Lanka

In 2022, approx. X tons of activated carbon were exported from Sri Lanka; surging by 2.4% on the year before. Over the period under review, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.6% against 2015 indices. The pace of growth was the most pronounced in 2020 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, activated carbon exports rose remarkably to $X in 2022. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for activated carbon exports from Sri Lanka, accounting for a 39% share of total exports. Moreover, activated carbon exports to the United States exceeded the volume sent to the second major destination, China (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+21.1% per year) and Germany (+8.1% per year).

In value terms, the United States ($X) remains the key foreign market for activated carbon exports from Sri Lanka, comprising 39% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Germany, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+31.4% per year) and Germany (+12.5% per year).

Export Prices by Country

The average activated carbon export price stood at $X per ton in 2022, with an increase of 4.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 36% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Activated Carbon Imports

Imports into Sri Lanka

Activated carbon imports into Sri Lanka reduced sharply to X tons in 2022, with a decrease of -36.3% on 2021 figures. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, activated carbon imports plummeted to $X in 2022. Overall, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of activated carbon to Sri Lanka, accounting for a 66% share of total imports. Moreover, activated carbon imports from India exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+18.5% per year) and Vietnam (+15.7% per year).

In value terms, India ($X) constituted the largest supplier of activated carbon to Sri Lanka, comprising 67% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 22% share of total imports. It was followed by China, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+25.6% per year) and China (+11.3% per year).

Import Prices by Country

In 2022, the average activated carbon import price amounted to $X per ton, picking up by 29% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, activated carbon import price increased by +35.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 41%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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