Sri Lanka: Textile Rubber Hose Market 2024

Textile Rubber Hose Market Size in Sri Lanka

The Sri Lankan textile rubber hose market skyrocketed to $X in 2021, increasing by 35% 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 enjoyed a prominent increase. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in years to come.

Textile Rubber Hose Exports

Exports from Sri Lanka

After two years of decline, shipments abroad of rubber hose reinforced with textiles increased by 78% to X tons in 2021. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 654% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, textile rubber hose exports rose notably to $X in 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 344% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X kg) was the main destination for textile rubber hose exports from Sri Lanka, with a 61% share of total exports. Moreover, textile rubber hose exports to India exceeded the volume sent to the second major destination, Maldives (X kg), threefold. The third position in this ranking was taken by South Africa (X kg), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+24.6% per year) and South Africa (+43.0% per year).

In value terms, India ($X) remains the key foreign market for rubber hose reinforced with textiles exports from Sri Lanka, comprising 67% of total exports. The second position in the ranking was taken by Maldives ($X), with a 22% share of total exports. It was followed by South Africa, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to India totaled +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+5.3% per year) and South Africa (+12.7% per year).

Export Prices by Country

In 2021, the average textile rubber hose export price amounted to $X per ton, with a decrease of -39% against the previous year. In general, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2013 when the average export price increased by 51%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to South Africa ($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 Norway (-4.6%), while the prices for the other major destinations experienced a decline.

Textile Rubber Hose Imports

Imports into Sri Lanka

In 2021, imports of rubber hose reinforced with textiles into Sri Lanka surged to X tons, with an increase of 47% on 2020. Overall, imports posted tangible growth. The most prominent rate of growth was recorded in 2020 when imports increased by 74%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, textile rubber hose imports soared to $X in 2021. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 154% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

India (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of textile rubber hose imports to Sri Lanka, with a combined 92% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of rubber hose reinforced with textiles to Sri Lanka, comprising 49% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.1% per year) and Malaysia (+40.0% per year).

Import Prices by Country

In 2021, the average textile rubber hose import price amounted to $X per ton, which is down by -12.5% against the previous year. Overall, the import price, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 86% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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