Sri Lanka: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Sri Lanka

The Sri Lankan polycarboxylic acid market dropped notably to $X in 2022, which is down by -32.3% 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, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Polycarboxylic Acid Exports

Exports from Sri Lanka

In 2022, after two years of growth, there was significant decline in shipments abroad of polycarboxylic acids, when their volume decreased by -65% to X kg. Overall, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 164%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, polycarboxylic acid exports shrank sharply to $X in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 141% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X kg) was the main destination for polycarboxylic acid exports from Sri Lanka, with a 85% share of total exports. Moreover, polycarboxylic acid exports to Maldives exceeded the volume sent to the second major destination, Bangladesh (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives amounted to +51.5%.

In value terms, Bangladesh ($X) and Maldives ($X) appeared to be the largest markets for polycarboxylic acid exported from Sri Lanka worldwide.

In terms of the main countries of destination, Maldives, with a CAGR of +41.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2022, surging by 119% against the previous year. In general, the export price, however, recorded a perceptible curtailment. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export 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 Maldives stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarboxylic Acid Imports

Imports into Sri Lanka

In 2022, the amount of polycarboxylic acids imported into Sri Lanka dropped remarkably to X tons, waning by -36.5% compared with the previous year. In general, imports, however, showed a mild expansion. The pace of growth was the most pronounced in 2017 when imports increased by 38% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped significantly in the following year.

In value terms, polycarboxylic acid imports shrank dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. As a result, imports reached the peak of $X, and then reduced markedly in the following year.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of polycarboxylic acid imports to Sri Lanka, with a combined 80% share of total imports. South Korea and Malaysia lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +40.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polycarboxylic acid suppliers to Sri Lanka were China ($X), India ($X) and Taiwan (Chinese) ($X), together comprising 81% of total imports. Malaysia and South Korea lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Malaysia, with a CAGR of +41.8%, saw 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 polycarboxylic acid import price stood at $X per ton in 2022, picking up by 9.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 51% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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