Sri Lanka: Fluorescent Brightening Agents Market 2024

Fluorescent Brightening Agents Market Size in Sri Lanka

In 2022, the Sri Lankan fluorescent brightening agents market decreased by -21.8% to $X, falling for the third consecutive year after four years of growth. Overall, consumption recorded a noticeable slump. Fluorescent brightening agents consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fluorescent Brightening Agents Exports

Exports from Sri Lanka

Fluorescent brightening agents exports from Sri Lanka skyrocketed to X tons in 2022, with an increase of 1,113% against the previous year. In general, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fluorescent brightening agents exports surged to $X in 2022. Overall, exports saw prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bangladesh (X tons) was the main destination for fluorescent brightening agents exports from Sri Lanka, with a 74% share of total exports. Moreover, fluorescent brightening agents exports to Bangladesh exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+23.2% per year) and Indonesia (-2.7% per year).

In value terms, Bangladesh ($X), India ($X) and Indonesia ($X) appeared to be the largest markets for fluorescent brightening agents exported from Sri Lanka worldwide, together accounting for 97% of total exports.

Among the main countries of destination, Bangladesh, with a CAGR of +14.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average fluorescent brightening agents export price amounted to $X per ton, which is down by -24.2% against the previous year. Over the period under review, the export price showed a slight slump. The pace of growth was the most pronounced in 2020 an increase of 159%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 Bangladesh (+1.9%), while the prices for the other major destinations experienced a decline.

Fluorescent Brightening Agents Imports

Imports into Sri Lanka

In 2022, purchases abroad of synthetic organic products used as fluorescent brightening agents decreased by -28.9% to X tons, falling for the fourth year in a row after three years of growth. In general, imports saw a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 46% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, fluorescent brightening agents imports dropped sharply to $X in 2022. Over the period under review, imports saw a mild descent. The pace of growth was the most pronounced in 2019 with an increase of 23% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of fluorescent brightening agents imports to Sri Lanka, with a combined 86% share of total imports. Switzerland, Germany, the UK and Taiwan (Chinese) lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +43.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fluorescent brightening agents suppliers to Sri Lanka were India ($X), China ($X) and Switzerland ($X), together accounting for 85% of total imports. Indonesia, the UK, Germany and Taiwan (Chinese) lagged somewhat behind, together comprising a further 13%.

The UK, with a CAGR of +28.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 fluorescent brightening agents import price stood at $X per ton in 2022, surging by 18% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fluorescent brightening agents import price increased by +84.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 49%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Switzerland ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :