Sri Lanka: Lamp Plastic Parts Market 2024

Lamp Plastic Parts Market Size in Sri Lanka

In 2021, the Sri Lankan lamp plastic parts market decreased by -60.8% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, saw a buoyant increase. Lamp plastic parts consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Lamp Plastic Parts Exports

Exports from Sri Lanka

In 2021, overseas shipments of plastic parts for lamps and lighting fittings decreased by -84% to X kg for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 429%. The exports peaked at X tons in 2020, and then fell sharply in the following year.

In value terms, lamp plastic parts exports fell significantly to $X in 2021. Overall, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2018 when exports increased by 500%. The exports peaked at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

Switzerland (X kg) was the main destination for lamp plastic parts exports from Sri Lanka, accounting for a 86% share of total exports. Moreover, lamp plastic parts exports to Switzerland exceeded the volume sent to the second major destination, Ethiopia (X kg), eightfold. Seychelles (X kg) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Switzerland amounted to -32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (0.0% per year) and Seychelles (-4.4% per year).

In value terms, Switzerland ($X) remains the key foreign market for plastic parts for lamps and lighting fittings exports from Sri Lanka, comprising 97% of total exports. The second position in the ranking was held by Seychelles ($X), with a 2.3% share of total exports. It was followed by Ethiopia, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value to Switzerland totaled -35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Seychelles (-5.4% per year) and Ethiopia (0.0% per year).

Export Prices by Country

The average lamp plastic parts export price stood at $X per ton in 2021, increasing by 5.4% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The pace of growth was the most pronounced in 2013 an increase of 36% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Ethiopia ($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 Seychelles (-0.5%), while the prices for the other major destinations experienced a decline.

Lamp Plastic Parts Imports

Imports into Sri Lanka

In 2021, overseas purchases of plastic parts for lamps and lighting fittings decreased by -58.3% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 669% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lamp plastic parts imports dropped sharply to $X in 2021. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 565%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest lamp plastic parts supplier to Sri Lanka, with a 87% share of total imports. Moreover, lamp plastic parts imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X kg), with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-3.3% per year) and Malaysia (+39.1% per year).

In value terms, China ($X) constituted the largest supplier of plastic parts for lamps and lighting fittings to Sri Lanka, comprising 37% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 6.4% share of total imports. It was followed by the Czech Republic, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-1.0% per year) and the Czech Republic (+1.3% per year).

Import Prices by Country

In 2021, the average lamp plastic parts import price amounted to $X per ton, dropping by -19% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 159%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+169.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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