Sri Lanka: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Sri Lanka

The Sri Lankan vulcanised rubber erases market fell significantly to $X in 2021, dropping by -33.2% 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, consumption continues to indicate a mild contraction. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Vulcanised Rubber Erases Exports

Exports from Sri Lanka

In 2021, the amount of erasers of vulcanised rubber exported from Sri Lanka soared to X kg, with an increase of 122% against the year before. Over the period under review, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 422% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, vulcanised rubber erases exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 450%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X kg) was the main destination for vulcanised rubber erases exports from Sri Lanka, accounting for a 88% share of total exports. Moreover, vulcanised rubber erases exports to Malaysia exceeded the volume sent to the second major destination, Samoa (X kg), more than tenfold. The third position in this ranking was taken by China (X kg), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (0.0% per year) and China (0.0% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for erasers of vulcanised rubber exports from Sri Lanka, comprising 88% of total exports. The second position in the ranking was held by China ($X), with a 6.4% share of total exports. It was followed by Samoa, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Samoa (0.0% per year).

Export Prices by Country

The average vulcanised rubber erases export price stood at $X per ton in 2021, jumping by 35% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Samoa ($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 China (+52.1%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Erases Imports

Imports into Sri Lanka

In 2021, the amount of erasers of vulcanised rubber imported into Sri Lanka reduced remarkably to X tons, which is down by -19.1% compared with the previous year's figure. Overall, imports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 59% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, vulcanised rubber erases imports fell sharply to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 98%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest vulcanised rubber erases supplier to Sri Lanka, with a 82% share of total imports. Moreover, vulcanised rubber erases imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -5.3%.

In value terms, China ($X) constituted the largest supplier of erasers of vulcanised rubber to Sri Lanka, comprising 88% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest.

Import Prices by Country

The average vulcanised rubber erases import price stood at $X per ton in 2021, shrinking by -22.9% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber erases import price decreased by -25.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 51%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.2%).

Source: IndexBox Platform

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