Sri Lanka: Market for Articles Of Non-Malleable Cast Iron 2025

Market Size for Articles Of Non-Malleable Cast Iron in Sri Lanka

The Sri Lankan non-malleable cast iron articles market plummeted to $X in 2022, reducing by -78.1% 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). In general, consumption continues to indicate a abrupt contraction. Non-malleable cast iron articles consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Articles Of Non-Malleable Cast Iron

Exports from Sri Lanka

In 2022, overseas shipments of articles of non-malleable cast iron increased by 99% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 2,617%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-malleable cast iron articles exports surged to $X in 2022. Overall, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2014 with an increase of 2,428% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for non-malleable cast iron articles exports from Sri Lanka, accounting for a 72% share of total exports. Moreover, non-malleable cast iron articles exports to the United States exceeded the volume sent to the second major destination, Maldives (X kg), tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+22.5% per year) and the United Arab Emirates (-31.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for articles of non-malleable cast iron exports from Sri Lanka, comprising 80% of total exports. The second position in the ranking was taken by Maldives ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+23.9% per year) and the United Arab Emirates (-23.8% per year).

Export Prices by Country

The average non-malleable cast iron articles export price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the export price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2020 an increase of 37% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Maldives ($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 (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Articles Of Non-Malleable Cast Iron

Imports into Sri Lanka

In 2022, supplies from abroad of articles of non-malleable cast iron decreased by -77.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 187% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-malleable cast iron articles imports declined significantly to $X in 2022. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 184%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of non-malleable cast iron articles to Sri Lanka, accounting for a 61% share of total imports. Moreover, non-malleable cast iron articles imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Singapore (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+74.1% per year) and Singapore (+6.6% per year).

In value terms, the largest non-malleable cast iron articles suppliers to Sri Lanka were China ($X), Spain ($X) and Singapore ($X), with a combined 86% share of total imports.

Spain, with a CAGR of +57.2%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average non-malleable cast iron articles import price amounted to $X per ton, growing by 1.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 Spain ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :