Sri Lanka: Silica Sand Market 2024

Silica Sand Market Size in Sri Lanka

The Sri Lankan silica sand market contracted to $X in 2022, waning by -6% against the previous year. In general, consumption, however, showed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Silica Sand Production in Sri Lanka

In value terms, silica sand production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 130% against the previous year. Silica sand production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Silica Sand Exports

Exports from Sri Lanka

In 2022, silica sand exports from Sri Lanka surged to X tons, increasing by 217% compared with 2021 figures. Over the period under review, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silica sand exports surged to $X in 2022. In general, exports recorded buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for silica sand exports from Sri Lanka, with a 73% share of total exports. Moreover, silica sand exports to Malaysia exceeded the volume sent to the second major destination, China (X tons), sixfold. The United States (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.1% per year) and the United States (+40.9% per year).

In value terms, Malaysia ($X) remains the key foreign market for silica sands (quartz sands or industrial sands) exports from Sri Lanka, comprising 76% of total exports. The second position in the ranking was held by China ($X), with a 13% share of total exports. It was followed by the United States, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to +43.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+7.2% per year) and the United States (+44.5% per year).

Export Prices by Country

The average silica sand export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silica sand export price decreased by -2.4% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 15%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silica Sand Imports

Imports into Sri Lanka

In 2022, supplies from abroad of silica sands (quartz sands or industrial sands) decreased by -6.2% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, silica sand imports declined to $X in 2022. Over the period under review, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of silica sand to Sri Lanka, with a 66% share of total imports. Moreover, silica sand imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+18.1% per year) and China (-23.1% per year).

In value terms, the largest silica sand suppliers to Sri Lanka were Saudi Arabia ($X), China ($X) and Hong Kong SAR ($X), with a combined 80% share of total imports.

Saudi Arabia, with a CAGR of +23.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silica sand import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 19%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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