Sri Lanka: Market for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone 2024

Market Size for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Sri Lanka

The Sri Lankan market for tiles, flagstones and similar articles of cement, concrete or artificial stone dropped to $X in 2021, leveling off at the previous year. In general, consumption saw strong growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Sri Lanka

In value terms, production of tiles, flagstones and similar articles of cement, concrete or artificial stone declined slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 61% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a somewhat lower figure.

Exports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Exports from Sri Lanka

In 2021, overseas shipments of tiles, flagstones and similar articles of cement, concrete or artificial stone increased by 48% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 427%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone surged to $X in 2021. Over the period under review, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 376% against the previous year. Over the period under review, the exports of reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Maldives (X tons) was the main destination for exports of tiles, flagstones and similar articles of cement, concrete or artificial stone from Sri Lanka, with a 82% share of total exports. Moreover, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone to Maldives exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. Spain (X tons) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives amounted to +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+51.0% per year) and Spain (+37.1% per year).

In value terms, Maldives ($X) remains the key foreign market for tiles, flagstones and similar articles of cement, concrete or artificial stone exports from Sri Lanka, comprising 43% of total exports. The second position in the ranking was taken by the UK ($X), with a 10% share of total exports. It was followed by France, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Maldives amounted to +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+57.8% per year) and France (+55.2% per year).

Export Prices by Country

In 2021, the average export price for tiles, flagstones and similar articles of cement, concrete or artificial stone amounted to $X per ton, surging by 8.5% against the previous year. In general, the export price recorded a temperate increase. The growth pace was the most rapid in 2015 an increase of 296% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Seychelles ($X per ton), while the average price for exports to Maldives ($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 Seychelles (+64.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Imports into Sri Lanka

After two years of decline, supplies from abroad of tiles, flagstones and similar articles of cement, concrete or artificial stone increased by 24% to X tons in 2021. In general, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2014 when imports increased by 75%. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 200%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and Italy (X tons) were the main suppliers of imports of tiles, flagstones and similar articles of cement, concrete or artificial stone to Sri Lanka, with a combined 50% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tiles, flagstones and similar articles of cement, concrete or artificial stone suppliers to Sri Lanka were Italy ($X), China ($X) and Hong Kong SAR ($X), with a combined 53% share of total imports.

In terms of the main suppliers, China, with a CAGR of +40.6%, recorded 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 2021, the average import price for tiles, flagstones and similar articles of cement, concrete or artificial stone amounted to $X per ton, picking up by 10% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for tiles, flagstones and similar articles of cement, concrete or artificial stone increased by +52.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 71%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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