Sri Lanka: Natural Quartz Crystal Market 2024

Natural Quartz Crystal Market Size in Sri Lanka

The Sri Lankan natural quartz crystal market amounted to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 5.6%. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Natural Quartz Crystal Production in Sri Lanka

In value terms, natural quartz crystal production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5.7% against the previous year. Natural quartz crystal production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Natural Quartz Crystal Exports

Exports from Sri Lanka

In 2022, shipments abroad of quartz crystal (natural) decreased by -14% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its volume 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, exports decreased by -16.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 58% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural quartz crystal exports contracted to $X in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 68%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons), Singapore (X tons) and Malaysia (X tons) were the main destinations of natural quartz crystal exports from Sri Lanka, with a combined 84% share of total exports. South Korea, Germany, Israel and the United States lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +43.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and Malaysia ($X) constituted the largest markets for natural quartz crystal exported from Sri Lanka worldwide, together accounting for 88% of total exports. South Korea, Germany, Israel and the United States lagged somewhat behind, together comprising a further 9.9%.

Germany, with a CAGR of +46.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average natural quartz crystal export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 11% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Quartz Crystal Imports

Imports into Sri Lanka

Natural quartz crystal imports into Sri Lanka fell dramatically to X tons in 2022, which is down by -32.1% compared with 2021 figures. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 181% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, natural quartz crystal imports contracted sharply to $X in 2022. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 213%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2022, India (X tons) was the main natural quartz crystal supplier to Sri Lanka, with a 99.9% share of total imports. It was followed by China (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +32.9%.

In value terms, India ($X) constituted the largest supplier of quartz crystal (natural) to Sri Lanka, comprising 100% of total imports. The second position in the ranking was held by China ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +39.4%.

Import Prices by Country

The average natural quartz crystal import price stood at $X per ton in 2022, increasing by 4.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 China ($X per ton), while the price for India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+23.7%).

Source: IndexBox Platform

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