Sri Lanka: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Sri Lanka

The Sri Lankan extruded solid rubber rod market rose significantly to $X in 2022, with an increase of 9.6% against the previous year. Over the period under review, consumption, however, recorded a noticeable slump. Extruded solid rubber rod consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Extruded Solid Rubber Rods And Profiles in Sri Lanka

In value terms, extruded solid rubber rod production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Sri Lanka

In 2022, the amount of extruded solid rubber rods and profiles exported from Sri Lanka dropped sharply to X tons, reducing by -97.5% against the previous year. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2014 with an increase of 78% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports declined remarkably to $X in 2022. In general, exports continue to indicate a precipitous descent. The pace of growth was the most pronounced in 2015 when exports increased by 81%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Pakistan (X tons), Papua New Guinea (X tons) and Vietnam (X tons) were the main destinations of extruded solid rubber rod exports from Sri Lanka, together accounting for 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +8.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Papua New Guinea ($X) emerged as the key foreign market for extruded solid rubber rods and profiles exports from Sri Lanka, comprising 56% of total exports. The second position in the ranking was held by Vietnam ($X), with a 25% share of total exports. It was followed by Pakistan, with a 19% share.

From 2012 to 2022, the average annual growth rate of value to Papua New Guinea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-30.9% per year) and Pakistan (+4.6% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, increasing by 45% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod export price increased by +108.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Kenya ($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 the UK (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Sri Lanka

In 2022, approx. X tons of extruded solid rubber rods and profiles were imported into Sri Lanka; waning by -29.4% against the year before. Over the period under review, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 1,114% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod imports soared to $X in 2022. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 843%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), China (X tons) and the UK (X tons) were the main suppliers of extruded solid rubber rod imports to Sri Lanka, with a combined 59% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +84.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Sri Lanka, comprising 51% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Thailand, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from the UK totaled +96.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.8% per year) and Thailand (+14.3% per year).

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, growing by 115% against the previous year. In general, the import price saw a remarkable increase. As a result, import price attained 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 the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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