Sri Lanka: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Sri Lanka

The Sri Lankan stainless steel seamless pipe market reduced modestly to $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Sri Lanka

In value terms, stainless steel seamless pipe production declined modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Sri Lanka

In 2022, approx. X tons of stainless steel seamless pipe for oil and gas were exported from Sri Lanka; increasing by X% compared with the year before. Overall, exports, however, continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for stainless steel seamless pipe exports from Sri Lanka, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives amounted to X%.

In value terms, Maldives ($X) also remains the key foreign market for stainless steel seamless pipe for oil and gas exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to X%.

Export Prices by Country

The average stainless steel seamless pipe export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price showed a resilient increase. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to X% per year.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Sri Lanka

In 2022, approx. X tons of stainless steel seamless pipe for oil and gas were imported into Sri Lanka; surging by X% compared with 2021. In general, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, stainless steel seamless pipe imports expanded remarkably to $X in 2022. Over the period under review, imports, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of stainless steel seamless pipe to Sri Lanka, with a X% share of total imports. Moreover, stainless steel seamless pipe imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the Netherlands (X% per year).

In value terms, the largest stainless steel seamless pipe suppliers to Sri Lanka were China ($X), India ($X) and the Netherlands ($X), together accounting for X% of total imports.

The Netherlands, with a CAGR of X%, 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 mixed trend patterns.

Import Prices by Country

The average stainless steel seamless pipe import price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price, however, showed moderate growth. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a 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 the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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