Sri Lanka: Market for Polyester Tow And Staple, Not Carded, Combed Or Otherwise Processed For Spinning 2025

Market Size for Polyester Tow And Staple, Not Carded, Combed Or Otherwise Processed For Spinning in Sri Lanka

In 2022, the Sri Lankan market for polyester tow and staple, not carded, combed or otherwise processed for spinning decreased by -15.8% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, saw a resilient increase. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Polyester Tow And Staple, Not Carded, Combed Or Otherwise Processed For Spinning

Exports from Sri Lanka

In 2022, after three years of growth, there was significant decline in shipments abroad of polyester tow and staple, not carded, combed or otherwise processed for spinning, when their volume decreased by -97.9% to X kg. Over the period under review, exports continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2021 with an increase of 143%. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, exports of polyester tow and staple, not carded, combed or otherwise processed for spinning fell remarkably to $X in 2022. In general, exports saw a significant decline. The most prominent rate of growth was recorded in 2021 when exports increased by 208%. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X kg) was the main destination for exports of polyester tow and staple, not carded, combed or otherwise processed for spinning from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at +57.0%.

In value terms, Maldives ($X) emerged as the key foreign market for polyester tow and staple, not carded, combed or otherwise processed for spinning exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to +45.7%.

Export Prices by Country

In 2022, the average export price for polyester tow and staple, not carded, combed or otherwise processed for spinning amounted to $X per ton, which is down by -26.6% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2021 an increase of 27%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +6.9% per year.

Imports of Polyester Tow And Staple, Not Carded, Combed Or Otherwise Processed For Spinning

Imports into Sri Lanka

In 2022, supplies from abroad of polyester tow and staple, not carded, combed or otherwise processed for spinning decreased by -20% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2019 with an increase of 101%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of polyester tow and staple, not carded, combed or otherwise processed for spinning dropped to $X in 2022. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2013 with an increase of 83% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of imports of polyester tow and staple, not carded, combed or otherwise processed for spinning to Sri Lanka, with a combined 74% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +84.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Thailand ($X) constituted the largest polyester tow and staple, not carded, combed or otherwise processed for spinning suppliers to Sri Lanka, with a combined 77% share of total imports.

India, with a CAGR of +81.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for polyester tow and staple, not carded, combed or otherwise processed for spinning amounted to $X per ton, with an increase of 6.5% against the previous year. In general, the import price, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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