Sri Lanka: Polyvinyl Chloride Market 2024

Polyvinyl Chloride Market Size in Sri Lanka

The Sri Lankan polyvinyl chloride market fell remarkably to $X in 2022, with a decrease of -26.1% 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, recorded a strong increase. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Polyvinyl Chloride Exports

Exports from Sri Lanka

In 2022, exports of polyvinyl chloride from Sri Lanka surged to X tons, increasing by 255% against the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1,695% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, polyvinyl chloride exports soared to $X in 2022. Overall, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2020 when exports increased by 29,348%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for polyvinyl chloride exports from Sri Lanka, accounting for a 79% share of total exports. Moreover, polyvinyl chloride exports to Maldives exceeded the volume sent to the second major destination, Kenya (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives amounted to +87.6%.

In value terms, Maldives ($X) and Kenya ($X) constituted the largest markets for polyvinyl chloride exported from Sri Lanka worldwide.

Kenya, with a CAGR of +24.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average polyvinyl chloride export price stood at $X per ton in 2022, shrinking by -36.5% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 an increase of 1,541% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kenya ($X per ton), while the average price for exports to Maldives amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+1,634.5%), while the prices for the other major destinations experienced a decline.

Polyvinyl Chloride Imports

Imports into Sri Lanka

In 2022, the amount of polyvinyl chloride imported into Sri Lanka fell to X tons, reducing by -9% compared with the previous year's figure. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, polyvinyl chloride imports dropped sharply to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 109% against the previous year. As a result, imports reached the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of polyvinyl chloride to Sri Lanka, accounting for a 38% share of total imports. Moreover, polyvinyl chloride imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.4% per year) and Thailand (-2.7% per year).

In value terms, China ($X) constituted the largest supplier of polyvinyl chloride to Sri Lanka, comprising 38% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.6% per year) and Thailand (-1.6% per year).

Import Prices by Country

In 2022, the average polyvinyl chloride import price amounted to $X per ton, with a decrease of -18.8% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyvinyl chloride import price increased by +39.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 71% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted significantly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and Singapore ($X per ton), while the price for Japan ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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