Sri Lanka: Polyacetals Market 2024

Polyacetals Market Size in Sri Lanka

In 2021, the Sri Lankan polyacetals market decreased by -3.9% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Polyacetals Production in Sri Lanka

In value terms, polyacetals production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted slightly in the following year.

Polyacetals Exports

Exports from Sri Lanka

In 2021, shipments abroad of polyacetals in primary forms decreased by -6.7% to X tons, falling for the second consecutive year after eight years of growth. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 with an increase of 100%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyacetals exports stood at $X in 2021. Over the period under review, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 101%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for polyacetals exports from Sri Lanka, with a 87% share of total exports. Moreover, polyacetals exports to the United Arab Emirates exceeded the volume sent to the second major destination, Switzerland (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at -18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Maldives (-28.3% per year).

In value terms, the largest markets for polyacetals exported from Sri Lanka were Switzerland ($X), the United Arab Emirates ($X) and Maldives ($X), together comprising 95% of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average polyacetals export price amounted to $X per ton, picking up by 8.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United Arab Emirates ($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 Maldives (-0.7%).

Polyacetals Imports

Imports into Sri Lanka

In 2021, supplies from abroad of polyacetals in primary forms decreased by -50% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, recorded resilient growth. The growth pace was the most rapid in 2020 when imports increased by 224% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, polyacetals imports reduced remarkably to $X in 2021. In general, imports, however, continue to indicate moderate growth. The pace of growth appeared the most rapid in 2020 when imports increased by 121% against the previous year. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Thailand (X tons), Malaysia (X tons) and Saudi Arabia (X tons) were the main suppliers of polyacetals imports to Sri Lanka, together accounting for 48% of total imports. China, Japan, Taiwan (Chinese), Hong Kong SAR, South Korea, India and Singapore lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +83.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Thailand ($X) and China ($X) appeared to be the largest polyacetals suppliers to Sri Lanka, with a combined 43% share of total imports. Malaysia, Taiwan (Chinese), Hong Kong SAR, Saudi Arabia, South Korea, India and Singapore lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +63.2%, 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 polyacetals import price stood at $X per ton in 2021, growing by 13% against the previous year. In general, the import price, however, saw a slight reduction. The growth pace was the most rapid in 2018 when the average import price increased by 50%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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