Sri Lanka: Market for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning 2024

Market Size for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Sri Lanka

For the third consecutive year, the Sri Lankan market for other synthetic tow and staple not carded, combed or otherwise processed for spinning recorded growth in sales value, which increased by 38% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Exports from Sri Lanka

In 2021, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Sri Lanka surged to X kg, growing by 64% compared with the previous year. In general, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by 388%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning expanded sharply to $X in 2021. Over the period under review, exports, however, recorded a sharp contraction. The growth pace was the most rapid in 2015 with an increase of 177%. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Pakistan (X kg) was the main destination for exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Sri Lanka, with a 86% share of total exports. Moreover, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Pakistan exceeded the volume sent to the second major destination, Indonesia (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan stood at +18.0%.

In value terms, Pakistan ($X) remains the key foreign market for other synthetic tow and staple not carded, combed or otherwise processed for spinning exports from Sri Lanka, comprising 97% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Pakistan stood at -3.8%.

Export Prices by Country

In 2021, the average export price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, with a decrease of -35% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 155% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Pakistan ($X per ton), while the average price for exports to Indonesia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-17.2%), while the prices for the other major destinations experienced a decline.

Imports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Imports into Sri Lanka

In 2021, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning into Sri Lanka was estimated at X tons, with an increase of 13% on the year before. Overall, imports recorded a moderate increase. The growth pace was the most rapid in 2017 with an increase of 188% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning skyrocketed to $X in 2021. In general, imports, however, continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 255%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest other synthetic tow and staple not carded, combed or otherwise processed for spinning supplier to Sri Lanka, accounting for a 70% share of total imports. Moreover, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.2% per year) and Thailand (-21.8% per year).

In value terms, China ($X), Japan ($X) and Thailand ($X) appeared to be the largest other synthetic tow and staple not carded, combed or otherwise processed for spinning suppliers to Sri Lanka, together accounting for 96% of total imports.

Among the main suppliers, China, with a CAGR of +23.7%, 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 a decline.

Import Prices by Country

In 2021, the average import price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, surging by 46% against the previous year. Over the period under review, the import price, however, showed a abrupt setback. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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