Sri Lanka: Bentonite Market 2024

Bentonite Market Size in Sri Lanka

The Sri Lankan bentonite market expanded slightly to $X in 2022, increasing by 4.1% 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). Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Bentonite Exports

Exports from Sri Lanka

In 2022, bentonite exports from Sri Lanka stood at X tons, approximately equating the year before. In general, exports, however, showed a slight contraction. The growth pace was the most rapid in 2019 with an increase of 28% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bentonite exports reached $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for bentonite exports from Sri Lanka, accounting for a 100% share of total exports. It was followed by India (X kg), with a 0.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled +3.0%.

In value terms, Maldives ($X) remains the key foreign market for bentonite exports from Sri Lanka, comprising 100% of total exports. The second position in the ranking was taken by India ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives was relatively modest.

Export Prices by Country

In 2022, the average bentonite export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price showed a mild slump. The most prominent rate of growth was recorded in 2019 an increase of 2.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Maldives amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+11.5%).

Bentonite Imports

Imports into Sri Lanka

In 2022, the amount of bentonite imported into Sri Lanka expanded significantly to X tons, surging by 6.7% on the previous year's figure. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 103% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, bentonite imports rose to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 121%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of bentonite to Sri Lanka, with a 84% share of total imports. Moreover, bentonite imports from India exceeded the figures recorded by the second-largest supplier, Greece (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (0.0% per year) and China (-0.7% per year).

In value terms, India ($X) constituted the largest supplier of bentonite to Sri Lanka, comprising 61% of total imports. The second position in the ranking was held by Greece ($X), with an 8.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from India stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (0.0% per year) and China (-8.3% per year).

Import Prices by Country

In 2022, the average bentonite import price amounted to $X per ton, falling by -3.4% against the previous year. Over the period under review, the import price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Greece ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-0.8%).

Source: IndexBox Platform

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