Sri Lanka: Natural Polymers Market 2024

Natural Polymers Market Size in Sri Lanka

In 2021, the Sri Lankan natural polymers market increased by 76% to $X, rising for the second consecutive year after four years of decline. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2015; afterwards, it flattened through to 2021.

Natural Polymers Exports

Exports from Sri Lanka

Natural polymers exports from Sri Lanka skyrocketed to X tons in 2021, with an increase of 32% compared with the year before. Overall, exports, however, continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 465% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, natural polymers exports rose significantly to $X in 2021. In general, exports, however, continue to indicate a sharp downturn. The growth pace was the most rapid in 2018 when exports increased by 67%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Bangladesh (X tons) was the main destination for natural polymers exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh stood at +7.0%.

In value terms, Bangladesh ($X) also remains the key foreign market for natural and modified natural polymers in primary forms exports from Sri Lanka.

From 2012 to 2021, the average annual growth rate of value to Bangladesh stood at +19.1%.

Export Prices by Country

The average natural polymers export price stood at $X per ton in 2021, falling by -16.6% against the previous year. Overall, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 227% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Bangladesh stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+11.3%).

Natural Polymers Imports

Imports into Sri Lanka

In 2021, the amount of natural and modified natural polymers in primary forms imported into Sri Lanka surged to X tons, with an increase of 98% compared with 2020 figures. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume 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. Based on 2021 figures, imports increased by +99.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural polymers imports surged to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and Germany (X tons) were the main suppliers of natural polymers imports to Sri Lanka, with a combined 59% share of total imports. Denmark, the UK, Austria, Italy and the United States lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +9,504.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and Germany ($X) were the largest natural polymers suppliers to Sri Lanka, with a combined 61% share of total imports. The United States, Austria, Thailand, Italy and Denmark lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Denmark, with a CAGR of +987.3%, recorded 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 natural polymers import price stood at $X per ton in 2021, which is down by -17.6% against the previous year. Overall, the import price saw a perceptible descent. The pace of growth was the most pronounced in 2016 an increase of 32% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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