Sri Lanka: Man-Made Filament Yarn Market 2025

Man-Made Filament Yarn Market Size in Sri Lanka

The Sri Lankan man-made filament yarn market surged to $X in 2021, jumping by 84% 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). Overall, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Man-Made Filament Yarn Exports

Exports from Sri Lanka

In 2021, man-made filament yarn exports from Sri Lanka surged to X tons, growing by 126% compared with 2020 figures. Overall, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when exports increased by 2,131%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, man-made filament yarn exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,616% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Vietnam (X tons) was the main destination for man-made filament yarn exports from Sri Lanka, accounting for a 49% share of total exports. Moreover, man-made filament yarn exports to Vietnam exceeded the volume sent to the second major destination, the United States (X tons), threefold. India (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +119.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.8% per year) and India (+23.5% per year).

In value terms, Vietnam ($X) remains the key foreign market for man-made filament yarn exports from Sri Lanka, comprising 47% of total exports. The second position in the ranking was taken by China ($X), with a 16% share of total exports. It was followed by India, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +118.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+7.5% per year) and India (+19.1% per year).

Export Prices by Country

In 2021, the average man-made filament yarn export price amounted to $X per ton, jumping by 30% against the previous year. In general, the export price, however, recorded a mild downturn. The growth pace was the most rapid in 2019 when the average export price increased by 47%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 China (+16.1%), while the prices for the other major destinations experienced a decline.

Man-Made Filament Yarn Imports

Imports into Sri Lanka

In 2021, imports of man-made filament yarn into Sri Lanka soared to X tons, rising by 75% compared with 2020 figures. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.1% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, man-made filament yarn imports soared to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Thailand (X tons) were the main suppliers of man-made filament yarn imports to Sri Lanka, together accounting for 80% of total imports. These countries were followed by Turkey, Taiwan (Chinese), Lithuania, Vietnam, Indonesia, Hong Kong SAR and the United States, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +101.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest man-made filament yarn suppliers to Sri Lanka were India ($X), China ($X) and Thailand ($X), together comprising 69% of total imports. Taiwan (Chinese), Turkey, Vietnam, Lithuania, Hong Kong SAR, Indonesia and the United States lagged somewhat behind, together accounting for a further 13%.

Lithuania, with a CAGR of +73.3%, saw the highest rates of growth with regard to 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

The average man-made filament yarn import price stood at $X per ton in 2021, with an increase of 8.4% against the previous year. Overall, the import price, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2016 when the average import price increased by 11% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Hong Kong SAR ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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