Sri Lanka: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in Sri Lanka

The Sri Lankan non-woven glass fibre articles market skyrocketed to $X in 2021, with an increase of 198% 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, consumption recorded a buoyant increase. Non-woven glass fibre articles consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports from Sri Lanka

In 2021, shipments abroad of non-woven glass fibre webs, felts, mattresses and boards increased by 12% to X tons, rising for the second consecutive year after three years of decline. In general, exports saw strong growth. The pace of growth appeared the most rapid in 2014 when exports increased by 1,600% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-woven glass fibre articles exports shrank to $X in 2021. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2014 with an increase of 1,357% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Bangladesh (X tons), Canada (X tons) and Germany (X kg) were the main destinations of non-woven glass fibre articles exports from Sri Lanka, with a combined 88% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +71.4%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Canada ($X) and Maldives ($X) were the largest markets for non-woven glass fibre articles exported from Sri Lanka worldwide, together comprising 94% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +65.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-woven glass fibre articles export price stood at $X per ton in 2021, declining by -11.6% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 66%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Germany ($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 Ethiopia (+60.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports into Sri Lanka

In 2021, the amount of non-woven glass fibre webs, felts, mattresses and boards imported into Sri Lanka soared to X tons, picking up by 270% on the previous year. Over the period under review, imports enjoyed a resilient expansion. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, non-woven glass fibre articles imports skyrocketed to $X in 2021. Overall, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2018 when imports increased by 201%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest non-woven glass fibre articles supplier to Sri Lanka, with a 59% share of total imports. Moreover, non-woven glass fibre articles imports from China exceeded the figures recorded by the second-largest supplier, Kuwait (X tons), fivefold. The third position in this ranking was taken by Turkey (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+27.8% per year) and Turkey (+15.4% per year).

In value terms, China ($X) constituted the largest supplier of non-woven glass fibre webs, felts, mattresses and boards to Sri Lanka, comprising 42% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports. It was followed by Kuwait, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.3% per year) and Kuwait (+26.3% per year).

Import Prices by Country

In 2021, the average non-woven glass fibre articles import price amounted to $X per ton, reducing by -27.6% against the previous year. Overall, the import price, however, continues to indicate measured growth. The growth pace was the most rapid in 2016 an increase of 47% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :