Sri Lanka: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in Sri Lanka

The Sri Lankan glass in the mass market skyrocketed to $X in 2022, with an increase of 47% against the previous year. Overall, consumption, however, saw a noticeable decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Glass in The Mass in Sri Lanka

In value terms, glass in the mass production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20% against the previous year. Over the period under review, glass in mass production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Glass in The Mass

Exports from Sri Lanka

In 2022, shipments abroad of glass in the mass decreased by -31.8% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 442% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, glass in the mass exports contracted markedly to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 450%. Over the period under review, the glass in mass exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for glass in the mass exports from Sri Lanka, with a 73% share of total exports. Moreover, glass in the mass exports to the United Arab Emirates exceeded the volume sent to the second major destination, Indonesia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +53.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+43.9% per year) and India (+4.8% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for glass in the mass exports from Sri Lanka, comprising 70% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +62.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+63.6% per year) and India (+4.1% per year).

Export Prices by Country

In 2022, the average glass in the mass export price amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass in the mass export price increased by +69.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($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 Indonesia (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass in The Mass

Imports into Sri Lanka

In 2022, glass in the mass imports into Sri Lanka shrank rapidly to X kg, waning by -99.8% against the previous year. Over the period under review, imports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2018 with an increase of 16,123% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, glass in the mass imports declined sharply to $X in 2022. In general, imports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 1,861%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X kg) was the main supplier of glass in the mass to Sri Lanka, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to -52.6%.

In value terms, India ($X) constituted the largest supplier of glass in the mass to Sri Lanka.

From 2012 to 2022, the average annual growth rate of value from India totaled -53.7%.

Import Prices by Country

The average glass in the mass import price stood at $X per ton in 2022, waning by -50.7% against the previous year. In general, the import price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 254%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to +51.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :