Sri Lanka: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Sri Lanka

The Sri Lankan unsaturated acyclic hydrocarbons market amounted to $X in 2021, picking up by 7.1% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Unsaturated Acyclic Hydrocarbons Production in Sri Lanka

In value terms, unsaturated acyclic hydrocarbons production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 44%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Sri Lanka

In 2021, unsaturated acyclic hydrocarbons exports from Sri Lanka contracted significantly to X tons, which is down by -56.9% on 2020 figures. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 804%. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped sharply in the following year.

In value terms, unsaturated acyclic hydrocarbons exports contracted markedly to $X in 2021. Overall, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 836% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for unsaturated acyclic hydrocarbons exports from Sri Lanka, accounting for a 95% share of total exports. It was followed by the United Arab Emirates (X tons), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Maldives amounted to +47.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and India (-10.0% per year).

In value terms, Maldives ($X) remains the key foreign market for unsaturated acyclic hydrocarbons exports from Sri Lanka, comprising 96% of total exports. The second position in the ranking was held by India ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Maldives stood at +47.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-12.5% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

The average unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, which is down by -23.4% against the previous year. Overall, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2013 an increase of 76% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (-0.2%).

Unsaturated Acyclic Hydrocarbons Imports

Imports into Sri Lanka

In 2021, after two years of growth, there was decline in supplies from abroad of unsaturated acyclic hydrocarbons, when their volume decreased by -3.8% to X tons. Overall, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 310% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced slightly in the following year.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports, however, posted a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 116% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of unsaturated acyclic hydrocarbons to Sri Lanka, with a 54% share of total imports. Moreover, unsaturated acyclic hydrocarbons imports from Malaysia exceeded the figures recorded by the second-largest supplier, Romania (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia amounted to +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+103.6% per year) and the UK (+29.6% per year).

In value terms, the largest unsaturated acyclic hydrocarbons suppliers to Sri Lanka were Malaysia ($X), the UK ($X) and Romania ($X), together comprising 74% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +50.7%, recorded 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 unsaturated acyclic hydrocarbons import price amounted to $X per ton, surging by 39% against the previous year. Overall, the import price, however, showed a deep setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by 87% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 South Korea ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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