Sri Lanka: Market for High-Tenacity Filament Yarn Of Polyesters 2024

Market Size for High-Tenacity Filament Yarn Of Polyesters in Sri Lanka

In 2021, the Sri Lankan high-tenacity filament polyester yarn market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw a remarkable increase. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports from Sri Lanka

In 2021, approx. X tons of high-tenacity filament yarn of polyesters were exported from Sri Lanka; declining by -64.8% compared with the previous year's figure. Over the period under review, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2019 with an increase of 440%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, high-tenacity filament polyester yarn exports fell remarkably to $X in 2021. Overall, exports faced a sharp setback. The most prominent rate of growth was recorded in 2019 with an increase of 462% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for high-tenacity filament polyester yarn exports from Sri Lanka, accounting for a 65% share of total exports. Moreover, high-tenacity filament polyester yarn exports to the United Arab Emirates exceeded the volume sent to the second major destination, India (X kg), fourfold. The UK (X kg) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.8% per year) and the UK (-26.3% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for high-tenacity filament yarn of polyesters exports from Sri Lanka, comprising 58% of total exports. The second position in the ranking was held by India ($X), with a 23% share of total exports. It was followed by the UK, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.2% per year) and the UK (-13.0% per year).

Export Prices by Country

In 2021, the average high-tenacity filament polyester yarn export price amounted to $X per ton, picking up by 21% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, high-tenacity filament polyester yarn export price increased by +86.8% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 30%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Pakistan ($X per ton), while the average price for exports to the United States ($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 Costa Rica (+38.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports into Sri Lanka

In 2021, supplies from abroad of high-tenacity filament yarn of polyesters was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 114%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, high-tenacity filament polyester yarn imports soared to $X in 2021. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 125% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) was the main high-tenacity filament polyester yarn supplier to Sri Lanka, accounting for a 94% share of total imports. It was followed by Pakistan (X tons), with a 2.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+16.8% per year) and Taiwan (Chinese) (-20.2% per year).

In value terms, China ($X) constituted the largest supplier of high-tenacity filament yarn of polyesters to Sri Lanka, comprising 86% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-16.2% per year) and Pakistan (+4.7% per year).

Import Prices by Country

The average high-tenacity filament polyester yarn import price stood at $X per ton in 2021, falling by -3.5% against the previous year. In general, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 an increase of 33%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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