Sri Lanka: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in Sri Lanka

In 2021, the Sri Lankan rubber tube and pipe market decreased by -16.2% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption showed a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports from Sri Lanka

Rubber tube and pipe exports from Sri Lanka soared to X tons in 2021, jumping by 127% against 2020 figures. In general, exports saw strong growth. The pace of growth was the most pronounced in 2014 with an increase of 156%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, rubber tube and pipe exports surged to $X in 2021. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 223% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Qatar (X tons), the United States (X tons) and Belgium (X tons) were the main destinations of rubber tube and pipe exports from Sri Lanka, together comprising 73% of total exports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +91.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Qatar ($X) and Sweden ($X) were the largest markets for rubber tube and pipe exported from Sri Lanka worldwide, together comprising 56% of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +80.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rubber tube and pipe export price stood at $X per ton in 2021, waning by -20.7% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rubber tube and pipe export price decreased by -46.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 33%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a 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 Sweden ($X per ton), while the average price for exports to Nigeria ($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 Sweden (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports into Sri Lanka

In 2021, purchases abroad of tubes, pipes and hoses of vulcanized rubber was finally on the rise to reach X tons after three years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 83% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, rubber tube and pipe imports soared to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of rubber tube and pipe to Sri Lanka, accounting for a 54% share of total imports. Moreover, rubber tube and pipe imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.2% per year) and Malaysia (-9.1% per year).

In value terms, the largest rubber tube and pipe suppliers to Sri Lanka were India ($X), China ($X) and Malaysia ($X), together comprising 68% of total imports.

In terms of the main suppliers, India, with a CAGR of +15.9%, saw the highest growth rate of 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 rubber tube and pipe import price amounted to $X per ton, rising by 8.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 42% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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