Sri Lanka: Plaster Article Market 2024

Plaster Article Market Size in Sri Lanka

The Sri Lankan plaster article market dropped slightly to $X in 2021, falling by -2% against the previous year. In general, consumption showed buoyant growth. Plaster article consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Plaster Article Production in Sri Lanka

In value terms, plaster article production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +105.6% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Plaster Article Exports

Exports from Sri Lanka

In 2021, shipments abroad of articles of plaster or of compositions based on plaster decreased by -84.4% to X tons, falling for the third year in a row after two years of growth. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 158%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, plaster article exports fell markedly to $X in 2021. In general, exports recorded a deep slump. The growth pace was the most rapid in 2017 with an increase of 125%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Maldives (X tons) and Seychelles (X tons) were the main destinations of plaster article exports from Sri Lanka, together comprising 75% of total exports. Australia, Switzerland, Cyprus, New Zealand and India lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +139.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plaster article exported from Sri Lanka were Australia ($X), Maldives ($X) and the United Arab Emirates ($X), together accounting for 59% of total exports. These countries were followed by India, Cyprus, Switzerland, Seychelles and New Zealand, which together accounted for a further 33%.

New Zealand, with a CAGR of +48.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average plaster article export price amounted to $X per ton, jumping by 130% against the previous year. In general, the export price recorded a remarkable increase. As a result, the export price attained 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 India ($X per ton), while the average price for exports to Seychelles ($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 India (+65.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plaster Article Imports

Imports into Sri Lanka

In 2021, the amount of articles of plaster or of compositions based on plaster imported into Sri Lanka declined to X tons, with a decrease of -6.1% on 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 64% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, plaster article imports expanded significantly to $X in 2021. Overall, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 70%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest plaster article supplier to Sri Lanka, with a 46% share of total imports. Moreover, plaster article imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-0.9% per year) and the United Arab Emirates (-0.9% per year).

In value terms, the largest plaster article suppliers to Sri Lanka were China ($X), Thailand ($X) and Singapore ($X), together comprising 70% of total imports. The United Arab Emirates, India, Pakistan, Oman and Indonesia lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, India, with a CAGR of +29.8%, saw the highest growth rate of 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 plaster article import price stood at $X per ton in 2021, rising by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, import price attained 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 2021, the country with the highest price was Singapore ($X per ton), while the price for Pakistan ($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 Arab Emirates (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :