Sri Lanka: Market for Button Blanks & Button Moulds 2024

Market Size for Button Blanks & Button Moulds in Sri Lanka

The Sri Lankan button blanks and moulds market totaled $X in 2022, surging by 9.1% against the previous year. In general, consumption enjoyed a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Button Blanks & Button Moulds in Sri Lanka

In value terms, button blanks and moulds production rose markedly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 104% against the previous year. Button blanks and moulds production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Button Blanks & Button Moulds

Exports from Sri Lanka

Button blanks and moulds exports from Sri Lanka plummeted to X kg in 2022, waning by -49.6% on 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 1,463% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, button blanks and moulds exports contracted sharply to $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 2,860%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X kg) was the main destination for button blanks and moulds exports from Sri Lanka, accounting for a 74% share of total exports. Moreover, button blanks and moulds exports to Myanmar exceeded the volume sent to the second major destination, Maldives (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled -32.0%.

In value terms, Myanmar ($X) emerged as the key foreign market for button blanks & button moulds exports from Sri Lanka, comprising 82% of total exports. The second position in the ranking was held by Maldives ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar totaled -6.7%.

Export Prices by Country

In 2022, the average button blanks and moulds export price amounted to $X per ton, which is down by -59% against the previous year. Over the period under review, the export price, however, showed a tangible increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 158% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Maldives totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+37.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Button Blanks & Button Moulds

Imports into Sri Lanka

In 2022, approx. X tons of button blanks & button moulds were imported into Sri Lanka; jumping by 63% on the previous year. Over the period under review, imports saw a moderate increase. The most prominent rate of growth was recorded in 2015 when imports increased by 241% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, button blanks and moulds imports soared to $X in 2022. In general, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2015 with an increase of 247% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest button blanks and moulds supplier to Sri Lanka, accounting for a 71% share of total imports. Moreover, button blanks and moulds imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. India (X kg) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hong Kong SAR stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.5% per year) and India (-17.1% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of button blanks & button moulds to Sri Lanka, comprising 77% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by India, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.2% per year) and India (-15.6% per year).

Import Prices by Country

The average button blanks and moulds import price stood at $X per ton in 2022, growing by 71% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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