Sri Lanka: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Sri Lanka

In 2021, the Sri Lankan hydrogen chloride market increased by 2.5% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Hydrogen Chloride Production in Sri Lanka

In value terms, hydrogen chloride production stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 16%. Hydrogen chloride production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Hydrogen Chloride Exports

Exports from Sri Lanka

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were exported from Sri Lanka; with a decrease of -60% compared with the previous year's figure. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 253%. The exports peaked at X tons in 2020, and then dropped markedly in the following year.

In value terms, hydrogen chloride exports contracted sharply to $X in 2021. In general, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 415%. The exports peaked at $X in 2020, and then contracted notably in the following year.

Exports by Country

Maldives (X tons) was the main destination for hydrogen chloride exports from Sri Lanka, with a 99% share of total exports. It was followed by Seychelles (X kg), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives totaled +1.1%.

In value terms, Maldives ($X) remains the key foreign market for hydrogen chloride (hydrochloric acid) exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was held by Seychelles ($X), with a 0.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to -2.8%.

Export Prices by Country

In 2021, the average hydrogen chloride export price amounted to $X per ton, picking up by 4.9% against the previous year. Overall, the export price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Seychelles stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (-3.8%).

Hydrogen Chloride Imports

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in purchases abroad of hydrogen chloride (hydrochloric acid), when their volume increased by 36% to X tons. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 71% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, hydrogen chloride imports surged to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

Bangladesh (X tons), Pakistan (X tons) and India (X tons) were the main suppliers of hydrogen chloride imports to Sri Lanka, together comprising 98% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +19.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to Sri Lanka, comprising 61% of total imports. The second position in the ranking was held by India ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Pakistan totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.3% per year) and Bangladesh (+25.0% per year).

Import Prices by Country

The average hydrogen chloride import price stood at $X per ton in 2021, dropping by -11.8% against the previous year. Over the period under review, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 17%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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 India ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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