Sri Lanka: Phosphinates And Phosphonates Market 2024

Phosphinates And Phosphonates Market Size in Sri Lanka

The Sri Lankan phosphinates and phosphonates market contracted to $X in 2022, shrinking by -8.5% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Phosphinates And Phosphonates Production in Sri Lanka

In value terms, phosphinates and phosphonates production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 38%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Phosphinates And Phosphonates Exports

Exports from Sri Lanka

For the eleventh consecutive year, Sri Lanka recorded growth in overseas shipments of phosphinates (hypophosphites) and phosphonates (phosphites), which increased by 811% to X tons in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, phosphinates and phosphonates exports skyrocketed to $X in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), Bangladesh (X tons) and Indonesia (X tons) were the main destinations of phosphinates and phosphonates exports from Sri Lanka, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +993.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Indonesia ($X) constituted the largest markets for phosphinates and phosphonates exported from Sri Lanka worldwide, with a combined 100% share of total exports.

In terms of the main countries of destination, India, with a CAGR of +941.5%, 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

In 2022, the average phosphinates and phosphonates export price amounted to $X per ton, dropping by -27.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, 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 Bangladesh ($X per ton), while the average price for exports to Indonesia ($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 Indonesia (-4.5%), while the prices for the other major destinations experienced a decline.

Phosphinates And Phosphonates Imports

Imports into Sri Lanka

In 2022, the amount of phosphinates (hypophosphites) and phosphonates (phosphites) imported into Sri Lanka dropped to X tons, reducing by -7.2% on the year before. Over the period under review, imports showed a noticeable setback. The pace of growth appeared the most rapid in 2016 with an increase of 3,187%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphinates and phosphonates imports surged to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 2,365%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest supplier of phosphinates and phosphonates to Sri Lanka, with a 67% share of total imports. Moreover, phosphinates and phosphonates imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hong Kong SAR was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-12.6% per year) and India (+31.4% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of phosphinates (hypophosphites) and phosphonates (phosphites) to Sri Lanka, comprising 76% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-8.9% per year) and India (+22.7% per year).

Import Prices by Country

In 2022, the average phosphinates and phosphonates import price amounted to $X per ton, jumping by 104% against the previous year. Over the period under review, the import price saw a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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