Sri Lanka: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Sri Lanka

The Sri Lankan coated arc-welding electrode market fell notably to $X in 2022, waning by X% 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 noticeable descent. Over the period under review, the market attained the peak level at $X in 2021, and then contracted sharply in the following year.

Coated Arc-Welding Electrode Exports

Exports from Sri Lanka

In 2022, overseas shipments of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, coated arc-welding electrode exports dropped markedly to $X in 2022. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for coated arc-welding electrode exports from Sri Lanka, accounting for a X% share of total exports. Moreover, coated arc-welding electrode exports to Maldives exceeded the volume sent to the second major destination, Seychelles (X kg), more than tenfold. The third position in this ranking was taken by the Netherlands (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (X% per year) and the Netherlands (X% per year).

In value terms, Maldives ($X) remains the key foreign market for coated base metal electrodes for electric arc-welding exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Seychelles ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average coated arc-welding electrode export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Malaysia ($X per ton), while the average price for exports to Maldives ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports into Sri Lanka

In 2022, coated arc-welding electrode imports into Sri Lanka reduced sharply to X tons, dropping by X% on the previous year. Over the period under review, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, coated arc-welding electrode imports contracted significantly to $X in 2022. Overall, imports showed a noticeable slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest coated arc-welding electrode supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, coated arc-welding electrode imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of coated base metal electrodes for electric arc-welding to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and South Korea (X% per year).

Import Prices by Country

The average coated arc-welding electrode import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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