Sri Lanka: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2025

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in Sri Lanka

In 2021, the Sri Lankan market for tubes, pipes and hollow profiles (of iron or steel) was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption saw a deep downturn. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports from Sri Lanka

In 2021, approx. X tons of tubes, pipes and hollow profiles (of iron or steel) were exported from Sri Lanka; with a decrease of -82.9% compared with the previous year. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 780%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) shrank markedly to $X in 2021. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 466% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for exports of tubes, pipes and hollow profiles (of iron or steel) from Sri Lanka, accounting for a 43% share of total exports. Moreover, exports of tubes, pipes and hollow profiles (of iron or steel) to Maldives exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Maldives totaled -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-20.6% per year) and the United Arab Emirates (+103.6% per year).

In value terms, Maldives ($X) emerged as the key foreign market for tubes, pipes and hollow profiles (of iron or steel) exports from Sri Lanka, comprising 54% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 10% share of total exports. It was followed by Oman, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives stood at -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-16.7% per year) and Oman (+109.4% per year).

Export Prices by Country

The average export price for tubes, pipes and hollow profiles (of iron or steel) stood at $X per ton in 2021, with an increase of 47% against the previous year. Overall, the export price, however, saw a mild slump. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to India ($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 Oman (+25.5%), while the prices for the other major destinations experienced a decline.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports into Sri Lanka

In 2021, purchases abroad of tubes, pipes and hollow profiles (of iron or steel) decreased by -15.1% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 7.7% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) totaled $X in 2021. In general, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2016 when imports increased by 24% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Pakistan (X tons) were the main suppliers of imports of tubes, pipes and hollow profiles (of iron or steel) to Sri Lanka, together comprising 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -1.5%), while imports for the other leaders experienced a decline.

In value terms, the largest iron or steel pipe and tube suppliers to Sri Lanka were China ($X), India ($X) and Pakistan ($X), together accounting for 90% of total imports.

Among the main suppliers, China, with a CAGR of +2.1%, 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 a decline.

Import Prices by Country

The average import price for tubes, pipes and hollow profiles (of iron or steel) stood at $X per ton in 2021, jumping by 22% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 44% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :