Sri Lanka: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Sri Lanka

The Sri Lankan market for spray guns and similar appliances declined dramatically to $X in 2022, with a decrease of -68.9% 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 showed a abrupt setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Exports of Spray Guns And Similar Appliances

Exports from Sri Lanka

In 2022, exports of spray guns and similar appliances from Sri Lanka fell dramatically to X units, with a decrease of -75.1% compared with the previous year's figure. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by 969%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, spray guns and similar appliances exports dropped sharply to $X in 2022. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 786% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Maldives (X units), Seychelles (X units) and Indonesia (X units) were the main destinations of spray guns and similar appliances exports from Sri Lanka, together comprising 97% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of +37.0%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for spray guns and similar appliances exported from Sri Lanka were Maldives ($X), Seychelles ($X) and Indonesia ($X), together accounting for 97% of total exports.

Seychelles, with a CAGR of +40.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for spray guns and similar appliances stood at $X per unit in 2022, falling by -11.9% against the previous year. Overall, the export price, however, enjoyed a mild expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 93% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($X per unit) and Indonesia ($X per unit), while the average price for exports to Seychelles ($X per unit) and Maldives ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spray Guns And Similar Appliances

Imports into Sri Lanka

In 2022, imports of spray guns and similar appliances into Sri Lanka declined significantly to X units, which is down by -69.9% on the previous year. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 354% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, spray guns and similar appliances imports shrank notably to $X in 2022. Over the period under review, imports saw a noticeable decline. The pace of growth was the most pronounced in 2021 when imports increased by 61% against the previous year. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of spray guns and similar appliances to Sri Lanka, with a 70% share of total imports. Moreover, spray guns and similar appliances imports from China exceeded the figures recorded by the second-largest supplier, India (X units), eightfold. The third position in this ranking was held by the United Arab Emirates (X units), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.3% per year) and the United Arab Emirates (-30.3% per year).

In value terms, China ($X) constituted the largest supplier of spray guns and similar appliances to Sri Lanka, comprising 72% of total imports. The second position in the ranking was held by India ($X), with a 9.4% share of total imports. It was followed by Germany, with a 3% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.9% per year) and Germany (+2.5% per year).

Import Prices by Country

The average import price for spray guns and similar appliances stood at $X per unit in 2022, rising by 23% against the previous year. In general, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 670%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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