Sri Lanka: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in Sri Lanka

The Sri Lankan non-reinforced rubber tubing market reduced modestly to $X in 2021, declining by -1.8% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.3% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Non-Reinforced Rubber Tubing Production in Sri Lanka

In value terms, non-reinforced rubber tubing production fell slightly to $X in 2021 estimated in export price. In general, production, however, posted strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 106% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Non-Reinforced Rubber Tubing Exports

Exports from Sri Lanka

In 2021, approx. X tons of rubber tubing not reinforced were exported from Sri Lanka; increasing by 15% on 2020 figures. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 160% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, non-reinforced rubber tubing exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 200%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Qatar (X tons) was the main destination for non-reinforced rubber tubing exports from Sri Lanka, accounting for a 67% share of total exports. Moreover, non-reinforced rubber tubing exports to Qatar exceeded the volume sent to the second major destination, Belgium (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar stood at +194.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-9.3% per year) and Japan (-5.3% per year).

In value terms, Qatar ($X) remains the key foreign market for rubber tubing not reinforced exports from Sri Lanka, comprising 29% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by Sweden, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Qatar totaled +152.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+40.6% per year) and Sweden (+11.4% per year).

Export Prices by Country

The average non-reinforced rubber tubing export price stood at $X per ton in 2021, surging by 10% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 146% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Qatar ($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 the United States (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Reinforced Rubber Tubing Imports

Imports into Sri Lanka

In 2021, after three years of decline, there was significant growth in supplies from abroad of rubber tubing not reinforced, when their volume increased by 66% to X tons. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-reinforced rubber tubing imports surged to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-reinforced rubber tubing to Sri Lanka, accounting for a 49% share of total imports. Moreover, non-reinforced rubber tubing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.7% per year) and Malaysia (+5.9% per year).

In value terms, China ($X) constituted the largest supplier of rubber tubing not reinforced to Sri Lanka, comprising 49% of total imports. The second position in the ranking was taken by India ($X), with a 20% share of total imports. It was followed by Malaysia, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.9% per year) and Malaysia (-0.9% per year).

Import Prices by Country

The average non-reinforced rubber tubing import price stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Malaysia ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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