Sri Lanka: Anti-Freezing Preparations Market 2024

Anti-Freezing Preparations Market Size in Sri Lanka

In 2021, the Sri Lankan anti-freezing preparations market decreased by -32.6% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, posted a remarkable increase. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Anti-Freezing Preparations Exports

Exports from Sri Lanka

In 2021, overseas shipments of anti-freezing preparations and prepared de-icing fluids increased by 149% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, anti-freezing preparations exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons) was the main destination for anti-freezing preparations exports from Sri Lanka, with a 74% share of total exports. Moreover, anti-freezing preparations exports to Bangladesh exceeded the volume sent to the second major destination, Thailand (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh stood at +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-9.4% per year) and Maldives (+1.7% per year).

In value terms, Bangladesh ($X) remains the key foreign market for anti-freezing preparations and prepared de-icing fluids exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was taken by Maldives ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Bangladesh totaled +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-2.8% per year) and Thailand (-13.2% per year).

Export Prices by Country

In 2021, the average anti-freezing preparations export price amounted to $X per ton, falling by -2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-4.1%), while the prices for the other major destinations experienced a decline.

Anti-Freezing Preparations Imports

Imports into Sri Lanka

In 2021, after two years of growth, there was significant decline in overseas purchases of anti-freezing preparations and prepared de-icing fluids, when their volume decreased by -9.1% to X tons. Over the period under review, imports, however, posted buoyant growth. The growth pace was the most rapid in 2015 with an increase of 86%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, anti-freezing preparations imports shrank to $X in 2021. Overall, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 71%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of anti-freezing preparations to Sri Lanka, with a 37% share of total imports. Moreover, anti-freezing preparations imports from India exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.4% per year) and the United States (+14.0% per year).

In value terms, the largest anti-freezing preparations suppliers to Sri Lanka were the United States ($X), Japan ($X) and India ($X), with a combined 62% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +28.5%, 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

In 2021, the average anti-freezing preparations import price amounted to $X per ton, falling by -5.2% against the previous year. Overall, the import price continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2018 an increase of 11%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :