Sri Lanka: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Sri Lanka

The Sri Lankan silicon dioxide market was estimated at $X in 2021, with an increase of 12% against the previous year. Overall, consumption saw a strong expansion. Silicon dioxide consumption peaked in 2021 and is likely to continue growth in the immediate term.

Silicon Dioxide Production in Sri Lanka

In value terms, silicon dioxide production reduced slightly to $X in 2021 estimated in export price. Overall, production, however, saw a buoyant expansion. The growth pace was the most rapid in 2017 when the production volume increased by 87%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Silicon Dioxide Exports

Exports from Sri Lanka

After two years of decline, shipments abroad of silicon dioxide increased by 1.3% to X tons in 2021. In general, exports, however, continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2017 when exports increased by 608% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicon dioxide exports expanded markedly to $X in 2021. Overall, exports, however, faced a dramatic decline. The pace of growth appeared the most rapid in 2017 with an increase of 1,221% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for silicon dioxide exports from Sri Lanka, with a 99% share of total exports. It was followed by Malaysia (X kg), with a 0.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled -50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-65.5% per year) and Thailand (-73.3% per year).

In value terms, Singapore ($X) remains the key foreign market for silicon dioxide exports from Sri Lanka, comprising 93% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at -42.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-60.3% per year) and Thailand (-64.3% per year).

Export Prices by Country

The average silicon dioxide export price stood at $X per ton in 2021, increasing by 11% against the previous year. Overall, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 87% 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Malaysia ($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 Thailand (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Silicon Dioxide Imports

Imports into Sri Lanka

In 2021, approx. X tons of silicon dioxide were imported into Sri Lanka; growing by 64% against the previous year's figure. In general, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicon dioxide imports skyrocketed 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 +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +117.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and Thailand (X tons) were the main suppliers of silicon dioxide imports to Sri Lanka, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +38.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicon dioxide suppliers to Sri Lanka were China ($X), India ($X) and Thailand ($X), together comprising 93% of total imports.

Among the main suppliers, Thailand, with a CAGR of +37.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silicon dioxide import price amounted to $X per ton, surging by 2.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Hong Kong SAR ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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