Sri Lanka: Plastic Packaging Market 2024

Plastic Packaging Market Size in Sri Lanka

The Sri Lankan plastic packaging market was estimated at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Plastic packaging consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plastic Packaging Production in Sri Lanka

In value terms, plastic packaging production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Plastic Packaging Exports

Exports from Sri Lanka

In 2022, approx. X tons of plastic packaging were exported from Sri Lanka; shrinking by X% on the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic packaging exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for plastic packaging exports from Sri Lanka, accounting for a X% share of total exports. Moreover, plastic packaging exports to the United States exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

In value terms, the United States ($X) remains the key foreign market for plastic packaging exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

Export Prices by Country

The average plastic packaging export price stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Seychelles ($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 the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Packaging Imports

Imports into Sri Lanka

In 2022, imports of plastic packaging into Sri Lanka declined to X tons, falling by X% on the previous year's figure. Over the period under review, imports continue to indicate a slight decline. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic packaging imports reduced to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Hong Kong SAR (X tons) were the main suppliers of plastic packaging imports to Sri Lanka, together comprising X% of total imports. The United Arab Emirates, Malaysia, the United States, Thailand, South Korea, the Philippines and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging suppliers to Sri Lanka were China ($X), India ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. The United Arab Emirates, Thailand, the United States, Malaysia, Singapore, South Korea and the Philippines lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Philippines, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average plastic packaging import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Thailand ($X per ton), while the price for the Philippines ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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