Sri Lanka: Market for Finishing Agents Used In The Textile Industry 2024

Market Size for Finishing Agents Used In The Textile Industry in Sri Lanka

The Sri Lankan textile industry finishing agents market dropped markedly to $X in 2022, with a decrease of 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). Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then declined sharply in the following year.

Exports of Finishing Agents Used In The Textile Industry

Exports from Sri Lanka

In 2022, overseas shipments of finishing agents used in the textile industry increased by X% to X tons, rising for the sixth year in a row after four years of decline. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, textile industry finishing agents exports rose markedly to $X in 2022. Overall, exports showed a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Bangladesh (X tons) was the main destination for textile industry finishing agents exports from Sri Lanka, accounting for a X% share of total exports. Moreover, textile industry finishing agents exports to Bangladesh exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Indonesia (X% per year).

In value terms, Bangladesh ($X) remains the key foreign market for finishing agents used in the textile industry exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average textile industry finishing agents export price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Indonesia ($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 Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Finishing Agents Used In The Textile Industry

Imports into Sri Lanka

Textile industry finishing agents imports into Sri Lanka declined markedly to X tons in 2022, shrinking by X% compared with the previous year. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, textile industry finishing agents imports fell remarkably to $X in 2022. Over the period under review, imports, however, saw temperate growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

India (X tons), Germany (X tons) and China (X tons) were the main suppliers of textile industry finishing agents imports to Sri Lanka, with a combined X% share of total imports. Taiwan (Chinese), Turkey, Thailand, Indonesia, Italy, Singapore, the United States, Hong Kong SAR, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), India ($X) and China ($X) appeared to be the largest textile industry finishing agents suppliers to Sri Lanka, with a combined X% share of total imports. Turkey, Taiwan (Chinese), Thailand, Italy, Indonesia, Singapore, the United States, Hong Kong SAR, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average textile industry finishing agents import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual 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 ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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