Sri Lanka: Injection-Moulding Machine Market 2024

Injection-Moulding Machine Market Size in Sri Lanka

The Sri Lankan injection-moulding machine market dropped significantly to $X in 2022, waning by -15.7% against 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, however, recorded a perceptible increase. Injection-moulding machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Injection-Moulding Machine Exports

Exports from Sri Lanka

In 2022, exports of injection-moulding machines for working rubber or plastics from Sri Lanka declined sharply to X units, dropping by -33.3% on the previous year. Overall, exports showed a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 275% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, injection-moulding machine exports dropped remarkably to $X in 2022. Over the period under review, exports showed a sharp decline. The pace of growth appeared the most rapid in 2020 when exports increased by 2,782% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X units), Malaysia (X units) and the United Arab Emirates (X units) were the main destinations of injection-moulding machine exports from Sri Lanka, together accounting for 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for injection-moulding machines for working rubber or plastics exports from Sri Lanka, comprising 74% of total exports. The second position in the ranking was taken by India ($X), with a 24% share of total exports. It was followed by Malaysia, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-29.2% per year) and Malaysia (-38.2% per year).

Export Prices by Country

The average injection-moulding machine export price stood at $X per unit in 2022, surging by 22% against the previous year. Overall, the export price, however, continues to indicate a dramatic contraction. The growth pace was the most rapid in 2020 an increase of 669% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+50.7%), while the prices for the other major destinations experienced a decline.

Injection-Moulding Machine Imports

Imports into Sri Lanka

In 2022, injection-moulding machine imports into Sri Lanka dropped to X units, waning by -7.6% on the previous year. In general, imports, however, recorded a pronounced increase. The pace of growth appeared the most rapid in 2015 with an increase of 117%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, injection-moulding machine imports reduced rapidly to $X in 2022. Over the period under review, imports, however, posted a perceptible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 110% against the previous year. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

China (X units), Germany (X units) and the UK (X units) were the main suppliers of injection-moulding machine imports to Sri Lanka, with a combined 81% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +55.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest injection-moulding machine suppliers to Sri Lanka were Germany ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 90% share of total imports. Hong Kong SAR, India, Japan, the UK and Canada lagged somewhat behind, together comprising a further 8.5%.

In terms of the main suppliers, the UK, with a CAGR of +134.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average injection-moulding machine import price stood at $X per unit in 2022, with a decrease of -12.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+59.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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