Sri Lanka: Vulcanised Rubber Mats Market 2024

Vulcanised Rubber Mats Market Size in Sri Lanka

The Sri Lankan vulcanised rubber mats market contracted dramatically to $X in 2021, reducing by -61.2% against the previous year. In general, consumption saw a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Vulcanised Rubber Mats Production in Sri Lanka

In value terms, vulcanised rubber mats production rose significantly to $X in 2021 estimated in export price. Over the period under review, production showed a mild expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 19%. Vulcanised rubber mats production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Vulcanised Rubber Mats Exports

Exports from Sri Lanka

In 2021, vulcanised rubber mats exports from Sri Lanka soared to X tons, surging by 106% compared with the previous year's figure. Overall, total exports indicated a perceptible expansion from 2012 to 2021: its volume 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. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber mats exports soared to $X in 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), the United States (X tons) and Germany (X tons) were the main destinations of vulcanised rubber mats exports from Sri Lanka, together accounting for 50% of total exports. The UK, Australia, the Netherlands, Japan, Canada, Austria, Sweden and Norway lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +5.4%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and Germany ($X) appeared to be the largest markets for vulcanised rubber mats exported from Sri Lanka worldwide, together comprising 39% of total exports. These countries were followed by the UK, Australia, Japan, the Netherlands, Canada, Austria, Norway and Sweden, which together accounted for a further 22%.

Among the main countries of destination, the Netherlands, with a CAGR of +13.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vulcanised rubber mats export price stood at $X per ton in 2021, falling by -3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2013 when the average export price increased by 22% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to France ($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 Australia (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Mats Imports

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in supplies from abroad of floor coverings and mats of vulcanised rubber, when their volume increased by 77% to X tons. Overall, imports, however, saw a dramatic contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vulcanised rubber mats imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 86%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vulcanised rubber mats to Sri Lanka, with a 73% share of total imports. Moreover, vulcanised rubber mats imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-23.1% per year) and India (-42.7% per year).

In value terms, China ($X) constituted the largest supplier of floor coverings and mats of vulcanised rubber to Sri Lanka, comprising 67% of total imports. The second position in the ranking was held by India ($X), with a 5.9% share of total imports. It was followed by Taiwan (Chinese), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-29.7% per year) and Taiwan (Chinese) (-1.5% per year).

Import Prices by Country

In 2021, the average vulcanised rubber mats import price amounted to $X per ton, with a decrease of -26.8% against the previous year. In general, the import price, however, showed a strong increase. The pace of growth was the most pronounced in 2015 when the average import price increased by 71% against the previous year. The import price peaked at $X per ton in 2020, and then reduced markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Indonesia ($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 (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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