Sri Lanka: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in Sri Lanka

The Sri Lankan non-electric roasting furnace market surged to $X in 2022, increasing by 198% against the previous year. Overall, consumption posted resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Electric Roasting Furnace Production in Sri Lanka

In value terms, non-electric roasting furnace production expanded remarkably to $X in 2022 estimated in export price. Overall, production saw a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 68%. Non-electric roasting furnace production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Non-Electric Roasting Furnace Exports

Exports from Sri Lanka

Non-electric roasting furnace exports from Sri Lanka dropped significantly to X units in 2022, waning by -33.3% on the previous year's figure. Over the period under review, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 150%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric roasting furnace exports surged to $X in 2022. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 611%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Maldives (X units) was the main destination for non-electric roasting furnace exports from Sri Lanka, accounting for a 75% share of total exports. Moreover, non-electric roasting furnace exports to Maldives exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives stood at +44.2%.

In value terms, Maldives ($X) emerged as the key foreign market for non-electric furnaces and ovens for the roasting or melting exports from Sri Lanka, comprising 87% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives totaled +986.5%.

Export Prices by Country

In 2022, the average non-electric roasting furnace export price amounted to $X per unit, growing by 146% against the previous year. Overall, the export price continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 360% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to the United Arab Emirates amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+653.3%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Electric Roasting Furnace Imports

Imports into Sri Lanka

In 2022, the amount of non-electric furnaces and ovens for the roasting or melting imported into Sri Lanka skyrocketed to X units, jumping by 728% compared with the previous year. Over the period under review, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electric roasting furnace imports soared to $X in 2022. In general, imports saw a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 770%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Canada (X units) was the main non-electric roasting furnace supplier to Sri Lanka, with a 96% share of total imports. Moreover, non-electric roasting furnace imports from Canada exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at +8,733.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+40.0% per year) and India (+11.6% per year).

In value terms, Canada ($X) constituted the largest supplier of non-electric furnaces and ovens for the roasting or melting to Sri Lanka, comprising 91% of total imports. The second position in the ranking was held by China ($X), with a 7.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Canada stood at +533.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.1% per year) and India (+24.6% per year).

Import Prices by Country

In 2022, the average non-electric roasting furnace import price amounted to $X per unit, reducing by -76.9% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 490% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, 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 India ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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