Sri Lanka: Market for Flexible Tubes, Pipes and Hoses of Plastics, with a Burst Pressure ≥ 27,6 MPa 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with a Burst Pressure ≥ 27,6 MPa in Sri Lanka

In 2021, after two years of decline, there was significant growth in the Sri Lankan market for flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa, when its value increased by 116% to $X. In general, consumption continues to indicate strong growth. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with a Burst Pressure ≥ 27,6 MPa

Exports from Sri Lanka

In 2021, shipments abroad of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 907%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa soared to $X in 2021. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 624% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa from Sri Lanka, accounting for a 95% share of total exports. It was followed by Maldives (X kg), with a 2% share of total exports. Seychelles (X kg) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+31.0% per year) and Seychelles (-29.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa exports from Sri Lanka, comprising 96% of total exports. The second position in the ranking was held by Maldives ($X), with a 1.5% share of total exports. It was followed by Seychelles, with a 0.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-3.2% per year) and Seychelles (-27.0% per year).

Export Prices by Country

The average export price for flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa stood at $X per ton in 2021, increasing by 15% against the previous year. Overall, the export price enjoyed a measured expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 98% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Maldives ($X per ton), while the average price for exports to Ethiopia ($X per ton) and Seychelles ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+81.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with a Burst Pressure ≥ 27,6 MPa

Imports into Sri Lanka

In 2021, overseas purchases of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa increased by 84% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 387%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa soared to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2014 when imports increased by 322%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa supplier to Sri Lanka, with a 42% share of total imports. Moreover, imports of flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. India (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+35.4% per year) and India (+2.0% per year).

In value terms, India ($X), China ($X) and South Korea ($X) constituted the largest flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa suppliers to Sri Lanka, with a combined 57% share of total imports. Malaysia, Austria, Turkey and the United Arab Emirates lagged somewhat behind, together accounting for a further 13%.

Among the main suppliers, Austria, with a CAGR of +71.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for flexible tubes, pipes and hoses of plastics, with a burst pressure ≥ X MPa stood at $X per ton in 2021, with an increase of 23% against the previous year. Over the last nine years, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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