Sri Lanka: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Sri Lanka

The Sri Lankan polymethyl methacrylate market contracted to $X in 2022, falling by -7.5% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.3% against 2019 indices. Polymethyl methacrylate consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Polymethyl Methacrylate Production in Sri Lanka

In value terms, polymethyl methacrylate production dropped to $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.1% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 29%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Sri Lanka

In 2022, approx. X tons of polymethyl methacrylate in primary forms were exported from Sri Lanka; falling by -18.2% on 2021 figures. In general, exports recorded a dramatic setback. The growth pace was the most rapid in 2019 with an increase of 502% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, polymethyl methacrylate exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a sharp reduction. The pace of growth was the most pronounced in 2019 when exports increased by 800%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for polymethyl methacrylate exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +17.2%.

In value terms, Germany ($X) emerged as the key foreign market for polymethyl methacrylate in primary forms exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to -4.8%.

Export Prices by Country

In 2022, the average polymethyl methacrylate export price amounted to $X per ton, which is down by -50.8% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 49% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 Germany.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +0.7% per year.

Polymethyl Methacrylate Imports

Imports into Sri Lanka

After three years of growth, purchases abroad of polymethyl methacrylate in primary forms decreased by -48.8% to X tons in 2022. Over the period under review, imports showed a pronounced decrease. The pace of growth was the most pronounced in 2014 with an increase of 112%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, polymethyl methacrylate imports declined notably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 113% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest polymethyl methacrylate supplier to Sri Lanka, accounting for a 61% share of total imports. Moreover, polymethyl methacrylate imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Singapore (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+33.1% per year) and Singapore (+8.3% per year).

In value terms, Germany ($X), China ($X) and Singapore ($X) constituted the largest polymethyl methacrylate suppliers to Sri Lanka, with a combined 78% share of total imports. Taiwan (Chinese), the Netherlands, Malaysia and India lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, the Netherlands, with a CAGR of +39.7%, saw the highest growth rate of 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 polymethyl methacrylate import price stood at $X per ton in 2022, surging by 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 an increase of 29%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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