Sri Lanka: Market for Iron or Steel Cans 2025

Market Size for Iron or Steel Cans in Sri Lanka

The Sri Lankan iron or steel can market rose rapidly to $X in 2021, increasing by 12% 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). Over the period under review, consumption enjoyed a significant expansion. Iron or steel can consumption peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Iron or Steel Cans

Exports from Sri Lanka

In 2021, approx. X units of iron or steel cans were exported from Sri Lanka; waning by -1.9% against the previous year. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 466% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron or steel can exports reduced to $X in 2021. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of 461%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for iron or steel can exports from Sri Lanka, with a 82% share of total exports. Moreover, iron or steel can exports to China exceeded the volume sent to the second major destination, the United Arab Emirates (X units), sixfold. Thailand (X units) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +156.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.6% per year) and Thailand (+20.5% per year).

In value terms, China ($X) remains the key foreign market for iron or steel cans exports from Sri Lanka, comprising 48% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +128.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+10.6% per year) and Thailand (+40.2% per year).

Export Prices by Country

The average iron or steel can export price stood at $X per unit in 2021, declining by -4.1% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The pace of growth was the most pronounced in 2015 when the average export price increased by 82%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Belgium ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Cans

Imports into Sri Lanka

In 2021, the amount of iron or steel cans imported into Sri Lanka expanded sharply to X units, growing by 9.4% compared with the year before. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 558% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, iron or steel can imports amounted to $X in 2021. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 572% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of iron or steel can to Sri Lanka, with a 71% share of total imports. Moreover, iron or steel can imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), fourfold. The United Arab Emirates (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +54.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+23.3% per year) and the United Arab Emirates (+2.9% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel cans to Sri Lanka, comprising 67% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by Germany, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +55.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+24.9% per year) and Germany (+23.1% per year).

Import Prices by Country

The average iron or steel can import price stood at $X per unit in 2021, picking up by 3.8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :