Sri Lanka: Market for Other Plastic Tubes, Pipes and Hoses 2024

Market Size for Other Plastic Tubes, Pipes and Hoses in Sri Lanka

The Sri Lankan market for other plastic tubes, pipes and hoses declined rapidly to $X in 2022, waning by -56.5% 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 continues to indicate a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Other Plastic Tubes, Pipes and Hoses

Exports from Sri Lanka

In 2022, exports of other plastic tubes, pipes and hoses from Sri Lanka skyrocketed to X tons, increasing by 17% compared with the previous year. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2015 when exports increased by 603%. Over the period under review, the exports of reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of other plastic tubes, pipes and hoses surged to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 485% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for exports of other plastic tubes, pipes and hoses from Sri Lanka, with a 91% share of total exports. Moreover, exports of other plastic tubes, pipes and hoses to Australia exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia amounted to +284.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+6.3% per year) and Maldives (-23.7% per year).

In value terms, Australia ($X) remains the key foreign market for other plastic tubes, pipes and hoses exports from Sri Lanka, comprising 89% of total exports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia stood at +227.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+1.8% per year) and Maldives (-27.5% per year).

Export Prices by Country

The average export price for other plastic tubes, pipes and hoses stood at $X per ton in 2022, growing by 35% against the previous year. Overall, the export price saw a buoyant increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 53%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+558.3%), while the prices for the other major destinations experienced a decline.

Imports of Other Plastic Tubes, Pipes and Hoses

Imports into Sri Lanka

In 2022, approx. X tons of other plastic tubes, pipes and hoses were imported into Sri Lanka; which is down by -58.6% against the year before. Overall, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2019 with an increase of 92%. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of other plastic tubes, pipes and hoses dropped significantly to $X in 2022. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by 67%. Over the period under review, imports of hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest other plastic tubes, pipes and hoses supplier to Sri Lanka, with a 63% share of total imports. Moreover, imports of other plastic tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-31.3% per year) and Malaysia (+3.9% per year).

In value terms, China ($X) constituted the largest supplier of other plastic tubes, pipes and hoses to Sri Lanka, comprising 36% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-23.3% per year) and Taiwan (Chinese) (+1.4% per year).

Import Prices by Country

The average import price for other plastic tubes, pipes and hoses stood at $X per ton in 2022, growing by 31% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for other plastic tubes, pipes and hoses increased by +89.8% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 45%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by India (+11.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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