Sri Lanka: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Sri Lanka

The Sri Lankan polyethylene glycol and polyether market surged to $X in 2021, growing by 86% 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). Overall, consumption recorded buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Sri Lanka

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were exported from Sri Lanka; rising by 56% on 2020. Over the period under review, exports saw prominent growth. The growth pace was the most rapid in 2019 with an increase of 996%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports skyrocketed to $X in 2021. Overall, exports continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2019 when exports increased by 1,505% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for polyethylene glycol and polyether exports from Sri Lanka, with a 67% share of total exports. Moreover, polyethylene glycol and polyether exports to Oman exceeded the volume sent to the second major destination, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman stood at +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+13.1% per year) and India (+44.8% per year).

In value terms, Oman ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Sri Lanka, comprising 76% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman stood at +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+2.1% per year) and India (+28.8% per year).

Export Prices by Country

The average polyethylene glycol and polyether export price stood at $X per ton in 2021, remaining stable against the previous year. In general, the export price recorded a perceptible descent. The most prominent rate of growth was recorded in 2019 an increase of 46% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($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 Oman (+30.2%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Sri Lanka

In 2021, polyethylene glycol and polyether imports into Sri Lanka surged to X tons, jumping by 45% compared with 2020. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.9% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether imports soared to $X in 2021. In general, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), the United States (X tons) and China (X tons) were the main suppliers of polyethylene glycol and polyether imports to Sri Lanka, with a combined 70% share of total imports. Thailand, Japan, India and Singapore lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +56.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene glycol and polyether suppliers to Sri Lanka were South Korea ($X), China ($X) and the United States ($X), together comprising 67% of total imports. Thailand, Japan, India and Singapore lagged somewhat behind, together comprising a further 29%.

Thailand, with a CAGR of +69.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, surging by 39% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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