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

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

The Sri Lankan market for plastic fittings for tubes, pipes and hoses surged to $X in 2021, with an increase of 52% 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). In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports from Sri Lanka

In 2021, shipments abroad of plastic fittings for tubes, pipes and hoses decreased by -57.4% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 276% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of plastic fittings for tubes, pipes and hoses dropped significantly to $X in 2021. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 342%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for exports of plastic fittings for tubes, pipes and hoses from Sri Lanka, accounting for a 38% share of total exports. Moreover, exports of plastic fittings for tubes, pipes and hoses to Maldives exceeded the volume sent to the second major destination, Oman (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+101.9% per year) and the UK (+55.2% per year).

In value terms, Maldives ($X) remains the key foreign market for plastic fittings for tubes, pipes and hoses exports from Sri Lanka, comprising 31% of total exports. The second position in the ranking was taken by Ethiopia ($X), with a 10% share of total exports. It was followed by Bangladesh, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to Maldives stood at -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+1.2% per year) and Bangladesh (+4.8% per year).

Export Prices by Country

In 2021, the average export price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, rising by 35% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for plastic fittings for tubes, pipes and hoses increased by +99.0% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the UK ($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 the United Arab Emirates (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports into Sri Lanka

After two years of decline, purchases abroad of plastic fittings for tubes, pipes and hoses increased by 52% to X tons in 2021. Over the period under review, imports, however, saw a abrupt downturn. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of plastic fittings for tubes, pipes and hoses surged to $X in 2021. In general, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic fittings for tubes, pipes and hoses to Sri Lanka, with a 61% share of total imports. Moreover, imports of plastic fittings for tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. The third position in this ranking was held by Turkey (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.6% per year) and Turkey (+57.3% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for tubes, pipes and hoses to Sri Lanka, comprising 40% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports. It was followed by Germany, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.2% per year) and Germany (+8.5% per year).

Import Prices by Country

In 2021, the average import price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, reducing by -6.2% against the previous year. Over the period under review, the import price, however, showed buoyant growth. The growth pace was the most rapid in 2014 when the average import price increased by 82% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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