Sri Lanka: Market for Rigid Tubes, Pipes and Hoses of Polymers of Propylene 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Propylene in Sri Lanka

The Sri Lankan propylene polymer rigid pipes market shrank to $X in 2022, declining by -13.8% 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). Overall, consumption, however, continues to indicate moderate growth. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Propylene

Exports from Sri Lanka

Propylene polymer rigid pipes exports from Sri Lanka fell dramatically to X tons in 2022, shrinking by -94.1% against the previous year's figure. In general, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when exports increased by 208%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene polymer rigid pipes exports plummeted to $X in 2022. Over the period under review, exports faced a sharp setback. The most prominent rate of growth was recorded in 2021 when exports increased by 349%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for propylene polymer rigid pipes exports from Sri Lanka, with a 92% share of total exports. Moreover, propylene polymer rigid pipes exports to Maldives exceeded the volume sent to the second major destination, Central African Republic (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives totaled +11.8%.

In value terms, Maldives ($X) emerged as the key foreign market for rigid tubes, pipes and hoses of polymers of propylene exports from Sri Lanka, comprising 91% of total exports. The second position in the ranking was held by Central African Republic ($X), with a 6.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives stood at +7.5%.

Export Prices by Country

In 2022, the average propylene polymer rigid pipes export price amounted to $X per ton, waning by -31.5% against the previous year. Over the period under review, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 55% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Central African Republic ($X per ton), while the average price for exports to Maldives totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+13.0%), while the prices for the other major destinations experienced a decline.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Propylene

Imports into Sri Lanka

In 2022, the amount of rigid tubes, pipes and hoses of polymers of propylene imported into Sri Lanka shrank markedly to X tons, dropping by -36.5% compared with the year before. In general, imports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2013 with an increase of 745% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, propylene polymer rigid pipes imports declined sharply to $X in 2022. Overall, imports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of 593%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and India (X tons) were the main suppliers of propylene polymer rigid pipes imports to Sri Lanka, with a combined 66% share of total imports. Hong Kong SAR, Japan, Germany, Malaysia and Turkey lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +42.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of rigid tubes, pipes and hoses of polymers of propylene to Sri Lanka, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Italy, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.5% per year) and Italy (+28.7% per year).

Import Prices by Country

In 2022, the average propylene polymer rigid pipes import price amounted to $X per ton, jumping by 25% against the previous year. In general, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene polymer rigid pipes import price increased by +42.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :