Sri Lanka: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Sri Lanka

The Sri Lankan articles of fiber cement market dropped sharply to $X in 2022, waning by -18.8% against the previous year. Over the period under review, consumption continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 when the market value increased by 1.9% against the previous year. Articles of fiber cement consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Sri Lanka

In value terms, articles of fiber cement production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 16% against the previous year. Articles of fiber cement production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports from Sri Lanka

In 2022, articles of fiber cement exports from Sri Lanka skyrocketed to X tons, picking up by 335% on the previous year. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 3,169%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, articles of fiber cement exports surged to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 2,115%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Pakistan (X tons) was the main destination for articles of fiber cement exports from Sri Lanka, with a 73% share of total exports. Moreover, articles of fiber cement exports to Pakistan exceeded the volume sent to the second major destination, Bangladesh (X tons), fivefold. The third position in this ranking was held by the UK (X tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Pakistan amounted to +511.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+9,540.1% per year) and the UK (+203.5% per year).

In value terms, Pakistan ($X) remains the key foreign market for articles of asbestos-cement, cellulose fiber-cement or the like exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was taken by the UK ($X), with a 9% share of total exports. It was followed by Bangladesh, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Pakistan amounted to +296.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+111.4% per year) and Bangladesh (+4,916.3% per year).

Export Prices by Country

The average articles of fiber cement export price stood at $X per ton in 2022, which is down by -25.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 54%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bangladesh ($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 the United Arab Emirates (-12.8%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports into Sri Lanka

For the seventh consecutive year, Sri Lanka recorded decline in supplies from abroad of articles of asbestos-cement, cellulose fiber-cement or the like, which decreased by -84.1% to X tons in 2022. In general, imports recorded a dramatic setback. The pace of growth appeared the most rapid in 2013 with an increase of 26%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, articles of fiber cement imports shrank markedly to $X in 2022. Over the period under review, imports saw a dramatic decline. The most prominent rate of growth was recorded in 2013 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of articles of fiber cement imports to Sri Lanka, together comprising 65% of total imports. Iran, India, China and Vietnam lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of 0.0%), while imports for the other leaders experienced a decline.

In value terms, Thailand ($X), Iran ($X) and Indonesia ($X) were the largest articles of fiber cement suppliers to Sri Lanka, together comprising 47% of total imports.

Iran, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average articles of fiber cement import price stood at $X per ton in 2022, increasing by 164% against the previous year. Overall, the import price posted a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Iran ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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