Sri Lanka: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Sri Lanka

The Sri Lankan reclaimed rubber market skyrocketed to $X in 2021, picking up by 33% 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 recorded resilient growth. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Reclaimed Rubber Exports

Exports from Sri Lanka

In 2021, the amount of reclaimed rubber exported from Sri Lanka soared to X tons, with an increase of 26% on 2020. In general, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 77%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, reclaimed rubber exports soared to $X in 2021. Overall, exports, however, recorded a noticeable setback. The growth pace was the most rapid in 2020 with an increase of 70% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for reclaimed rubber exports from Sri Lanka, accounting for a 47% share of total exports. Moreover, reclaimed rubber exports to India exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by China (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to India stood at +50.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+1.0% per year) and China (+4.8% per year).

In value terms, India ($X) remains the key foreign market for reclaimed rubber exports from Sri Lanka, comprising 68% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.5% share of total exports. It was followed by China, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +54.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-4.9% per year) and China (+11.3% per year).

Export Prices by Country

In 2021, the average reclaimed rubber export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 41% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($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 China (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Reclaimed Rubber Imports

Imports into Sri Lanka

In 2021, imports of reclaimed rubber into Sri Lanka skyrocketed to X tons, jumping by 32% against 2020. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 94%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, reclaimed rubber imports surged to $X in 2021. Overall, imports showed resilient growth. The growth pace was the most rapid in 2013 with an increase of 62%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of reclaimed rubber to Sri Lanka, accounting for a 80% share of total imports. Moreover, reclaimed rubber imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.1% per year) and Malaysia (-6.7% per year).

In value terms, India ($X) constituted the largest supplier of reclaimed rubber to Sri Lanka, comprising 80% of total imports. The second position in the ranking was taken by China ($X), with a 5.8% share of total imports. It was followed by Thailand, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.9% per year) and Thailand (+65.5% per year).

Import Prices by Country

In 2021, the average reclaimed rubber import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a pronounced contraction. The growth pace was the most rapid in 2014 when the average import price increased by 10%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($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 (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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