Sri Lanka: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Sri Lanka

The Sri Lankan market for plastic hoses and hose fittings skyrocketed to $X in 2021, jumping by 25% 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). Over the period under review, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.0% against 2016 indices. Plastic hose and hose fitting consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports from Sri Lanka

In 2021, the amount of plastic hoses and hose fittings exported from Sri Lanka surged to X tons, increasing by 46% compared with the year before. Overall, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2015 when exports increased by 415% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting exports surged to $X in 2021. In general, exports enjoyed resilient growth. The growth pace was the most rapid in 2015 with an increase of 169%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons), Kenya (X tons) and Maldives (X tons) were the main destinations of plastic hose and hose fitting exports from Sri Lanka, with a combined 83% share of total exports. These countries were followed by Turkey, the United States and Germany, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +150.5%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) emerged as the key foreign market for plastic hoses and hose fittings exports from Sri Lanka, comprising 51% of total exports. The second position in the ranking was taken by Kenya ($X), with an 18% share of total exports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+20.8% per year) and Turkey (-4.2% per year).

Export Prices by Country

The average export price for plastic hoses and hose fittings stood at $X per ton in 2021, rising by 46% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 59% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+97.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic Hoses and Hose Fittings

Imports into Sri Lanka

In 2021, imports of plastic hoses and hose fittings into Sri Lanka skyrocketed to X tons, increasing by 22% compared with the year before. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 74% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting imports surged to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.1% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 40%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest plastic hose and hose fitting supplier to Sri Lanka, with a 51% share of total imports. Moreover, plastic hose and hose fitting imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-11.7% per year) and Malaysia (+6.6% per year).

In value terms, the largest plastic hose and hose fitting suppliers to Sri Lanka were China ($X), India ($X) and Malaysia ($X), together accounting for 70% of total imports. South Korea, Taiwan (Chinese), Thailand, Turkey and the United Arab Emirates lagged somewhat behind, together accounting for a further 9.2%.

In terms of the main suppliers, South Korea, with a CAGR of +39.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for plastic hoses and hose fittings stood at $X per ton in 2021, picking up by 4.2% against the previous year. Over the last nine years, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2013 an increase of 37% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Turkey ($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 (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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