Sri Lanka: Market for Refractory Products of Siliceous or Diatomite Earths 2024

Market Size for Refractory Products of Siliceous or Diatomite Earths in Sri Lanka

The Sri Lankan market for refractory products of siliceous or diatomite earths was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, saw a noticeable decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Refractory Products of Siliceous or Diatomite Earths in Sri Lanka

In value terms, production of refractory products of siliceous or diatomite earths shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced descent. The growth pace was the most rapid in 2018 when the production volume increased by 88% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Refractory Products of Siliceous or Diatomite Earths

Exports from Sri Lanka

Exports of refractory products of siliceous or diatomite earths from Sri Lanka fell remarkably to X kg in 2021, declining by -47.2% compared with 2020. Over the period under review, exports showed a abrupt slump. The pace of growth was the most pronounced in 2015 when exports increased by 493%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of refractory products of siliceous or diatomite earths surged to $X in 2021. Overall, exports, however, enjoyed a temperate increase. The pace of growth was the most pronounced in 2015 with an increase of 524% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Maldives (X kg) was the main destination for exports of refractory products of siliceous or diatomite earths from Sri Lanka, with a 80% share of total exports. Moreover, exports of refractory products of siliceous or diatomite earths to Maldives exceeded the volume sent to the second major destination, Canada (X kg), sixfold. The third position in this ranking was taken by Singapore (X kg), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-13.1% per year) and Singapore (+15.2% per year).

In value terms, Singapore ($X) remains the key foreign market for refractory products of siliceous or diatomite earths exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was held by Maldives ($X), with a 15% share of total exports. It was followed by India, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +33.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+22.2% per year) and India (-25.3% per year).

Export Prices by Country

The average export price for refractory products of siliceous or diatomite earths stood at $X per ton in 2021, jumping by 181% against the previous year. Overall, the export price posted a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada ($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 India (+28.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refractory Products of Siliceous or Diatomite Earths

Imports into Sri Lanka

In 2021, purchases abroad of refractory products of siliceous or diatomite earths decreased by -80.2% to X tons, falling for the third consecutive year after three years of growth. In general, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 1,017%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of refractory products of siliceous or diatomite earths declined markedly to $X in 2021. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 764% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of refractory products of siliceous or diatomite earths to Sri Lanka, with a 67% share of total imports. Moreover, imports of refractory products of siliceous or diatomite earths from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. India (X kg) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +104.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-11.9% per year) and India (-32.1% per year).

In value terms, Taiwan (Chinese) ($X), Denmark ($X) and Japan ($X) appeared to be the largest refractory products of siliceous or diatomite earths suppliers to Sri Lanka, with a combined 90% share of total imports.

Taiwan (Chinese), with a CAGR of +36.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for refractory products of siliceous or diatomite earths amounted to $X per ton, picking up by 57% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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