Sri Lanka: Market for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides 2024

Market Size for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Sri Lanka

The Sri Lankan high-tenacity filament nylon yarn market was estimated at $X in 2022, stabilizing at 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). In general, consumption continues to indicate a noticeable curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Exports from Sri Lanka

In 2022, shipments abroad of high-tenacity filament yarn of nylon or other polyamides increased by 19% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 14,741%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, high-tenacity filament nylon yarn exports surged to $X in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 18,372%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Portugal (X tons) was the main destination for high-tenacity filament nylon yarn exports from Sri Lanka, accounting for a 95% share of total exports. Moreover, high-tenacity filament nylon yarn exports to Portugal exceeded the volume sent to the second major destination, the Dominican Republic (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Portugal totaled +199.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (0.0% per year) and Vietnam (-55.4% per year).

In value terms, Portugal ($X) remains the key foreign market for high-tenacity filament yarn of nylon or other polyamides exports from Sri Lanka, comprising 88% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal totaled +143.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (0.0% per year) and Vietnam (-47.4% per year).

Export Prices by Country

In 2022, the average high-tenacity filament nylon yarn export price amounted to $X per ton, increasing by 15% against the previous year. In general, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2017 an increase of 43% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Portugal ($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 China (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Imports into Sri Lanka

In 2022, the amount of high-tenacity filament yarn of nylon or other polyamides imported into Sri Lanka contracted slightly to X tons, waning by -3.2% against the previous year. Overall, imports saw a abrupt downturn. The growth pace was the most rapid in 2016 with an increase of 123%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, high-tenacity filament nylon yarn imports expanded sharply to $X in 2022. Over the period under review, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2016 when imports increased by 78% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Latvia (X tons) and India (X tons) were the main suppliers of high-tenacity filament nylon yarn imports to Sri Lanka, with a combined 80% share of total imports. Italy, Hong Kong SAR, Taiwan (Chinese), South Korea and Singapore lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Latvia ($X) constituted the largest high-tenacity filament nylon yarn suppliers to Sri Lanka, together comprising 83% of total imports.

Italy, with a CAGR of +52.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average high-tenacity filament nylon yarn import price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, high-tenacity filament nylon yarn import price increased by +34.7% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 50%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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