Report Update Nov 1, 2024

Sri Lanka - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in Sri Lanka

The Sri Lankan rare earth metal market expanded slightly to $X in 2021, growing by 2.1% against the previous year. Overall, consumption continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when the market value increased by 6.5%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Rare Earth Metal Production in Sri Lanka

In value terms, rare earth metal production expanded modestly to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the production volume increased by 8.7%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Rare Earth Metal Exports

Exports from Sri Lanka

In 2021, approx. X kg of rare earth metals were exported from Sri Lanka; remaining constant against the year before. Overall, exports saw significant growth. The smallest decline of 99.9% was in 2020. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, rare earth metal exports amounted to $X in 2021. In general, exports saw significant growth. The smallest decline of 99.9% was in 2020. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Hong Kong SAR (X kg) was the main destination for rare earth metal exports from Sri Lanka, with a approx. 100% share of total exports.

From 2019 to 2021, the average annual growth rate of volume to Hong Kong SAR was relatively modest.

From 2019 to 2021, the average annual growth rate of value to Hong Kong SAR was relatively modest.

Export Prices by Country

The average rare earth metal export price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price saw a drastic downturn. The pace of growth was the most pronounced in 2020 a decrease of 99.9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, 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 Hong Kong SAR.

From 2019 to 2021, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Rare Earth Metal Imports

Imports into Sri Lanka

In 2021, overseas purchases of rare earth metals decreased by -15.5% to X kg, falling for the second consecutive year after two years of growth. Overall, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 2,340% against the previous year. Over the period under review, imports hit record highs at X kg in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, rare earth metal imports reduced to $X in 2021. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 3,510%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X kg) was the main rare earth metal supplier to Sri Lanka, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +54.1%.

In value terms, India ($X) constituted the largest supplier of rare earth metals to Sri Lanka.

From 2012 to 2021, the average annual growth rate of value from India totaled +61.1%.

Import Prices by Country

The average rare earth metal import price stood at $X per ton in 2021, growing by 6.7% against the previous year. In general, the import price continues to indicate a noticeable increase. The pace of growth appeared the most rapid in 2013 when the average import price increased by 89%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +1.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rare earth metals in the world?

China constituted the country with the largest volume of rare earth metal consumption, comprising approx. 49% of total volume. Moreover, rare earth metal consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. Malaysia ranked third in terms of total consumption with a 12% share.

What are the largest producers of rare earth metals in the world?

China remains the largest rare earth metal producing country worldwide, comprising approx. 59% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. Myanmar ranked third in terms of total production with a 12% share.

What are the leading suppliers of rare earth metals to Sri Lanka?

In value terms, India constituted the largest supplier of rare earth metal to Sri Lanka.

What is the average export price for rare earth metals in Sri Lanka?

The average rare earth metal export price stood at $190 per ton in 2019, almost unchanged from the previous year.

What is the average import price for rare earth metals in Sri Lanka?

In 2021, the average rare earth metal import price amounted to $46,382 per ton, declining by -4.5% against the previous year.

This report provides an in-depth analysis of the rare earth metal market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023