Sri Lanka: Market for Sulphides, Polysulphides, Dithionites And Sulphoxylates 2024

Market Size for Sulphides, Polysulphides, Dithionites And Sulphoxylates in Sri Lanka

In 2022, the Sri Lankan sulphides, dithionites and sulphoxylates market decreased by -6.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, posted resilient growth. Sulphides, dithionites and sulphoxylates consumption peaked at $X in 2021, and then reduced in the following year.

Exports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Exports from Sri Lanka

In 2022, the amount of sulphides, polysulphides, dithionites and sulphoxylates exported from Sri Lanka was estimated at X tons, increasing by 4.9% against 2021 figures. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2015 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, sulphides, dithionites and sulphoxylates exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 56%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

India (X tons), Bangladesh (X tons) and Indonesia (X tons) were the main destinations of sulphides, dithionites and sulphoxylates exports from Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +400.0%), while the other leaders experienced mixed trend patterns.

In value terms, India ($X) emerged as the key foreign market for sulphides, polysulphides, dithionites and sulphoxylates exports from Sri Lanka, comprising 76% of total exports. The second position in the ranking was held by Bangladesh ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-46.2% per year) and Indonesia (+406.5% per year).

Export Prices by Country

In 2022, the average sulphides, dithionites and sulphoxylates export price amounted to $X per ton, growing by 11% against the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphides, dithionites and sulphoxylates export price decreased by -7.0% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 32% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Bangladesh ($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 India (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Imports into Sri Lanka

In 2022, purchases abroad of sulphides, polysulphides, dithionites and sulphoxylates decreased by -28.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 104% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sulphides, dithionites and sulphoxylates imports shrank to $X in 2022. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 128%. Over the period under review, imports hit record highs at $X in 2021, and then declined slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest sulphides, dithionites and sulphoxylates supplier to Sri Lanka, with a 62% share of total imports. Moreover, sulphides, dithionites and sulphoxylates imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.5% per year) and Belgium (+17.2% per year).

In value terms, China ($X), India ($X) and Belgium ($X) constituted the largest sulphides, dithionites and sulphoxylates suppliers to Sri Lanka, with a combined 93% share of total imports. Hong Kong SAR, Germany, Thailand and Malaysia lagged somewhat behind, together comprising a further 6.9%.

Among the main suppliers, Hong Kong SAR, with a CAGR of +97.8%, saw the highest rates of growth with regard to 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 2022, the average sulphides, dithionites and sulphoxylates import price amounted to $X per ton, with an increase of 39% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphides, dithionites and sulphoxylates import price increased by +51.6% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :