Report Update Nov 1, 2024

Sri Lanka - Urea Resins and Thiourea Resins in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Sri Lanka

In 2022, the Sri Lankan urea and thiourea resins market decreased by -58% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption continues to indicate a deep downturn. Over the period under review, the market reached the peak level at $X in 2021, and then fell dramatically in the following year.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Sri Lanka

In 2022, exports of urea resins and thiourea resins in primary forms from Sri Lanka surged to X tons, picking up by 50% compared with 2021 figures. In general, exports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2019 when exports increased by 611% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea and thiourea resins exports soared to $X in 2022. Over the period under review, exports, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 473%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X tons) was the main destination for urea and thiourea resins exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh amounted to +5.0%.

In value terms, Bangladesh ($X) emerged as the key foreign market for urea resins and thiourea resins in primary forms exports from Sri Lanka.

From 2012 to 2022, the average annual growth rate of value to Bangladesh was relatively modest.

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, dropping by -14.5% against the previous year. In general, the export price showed a abrupt contraction. The pace of growth appeared the most rapid in 2013 an increase of 40%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Bangladesh.

From 2012 to 2022, the rate of growth in terms of prices for Bangladesh amounted to -5.6% per year.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Sri Lanka

In 2022, supplies from abroad of urea resins and thiourea resins in primary forms decreased by -57.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by 216%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, urea and thiourea resins imports shrank notably to $X in 2022. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 196% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest urea and thiourea resins supplier to Sri Lanka, accounting for a 48% share of total imports. Moreover, urea and thiourea resins imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. China (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia stood at -8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.7% per year) and China (-5.8% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of urea resins and thiourea resins in primary forms to Sri Lanka, comprising 46% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Egypt, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia amounted to -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-1.5% per year) and Egypt (-10.8% per year).

Import Prices by Country

In 2022, the average urea and thiourea resins import price amounted to $X per ton, remaining constant against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins import price increased by +48.2% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 48%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea resins and thiourea resins in primary forms in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 42% of global consumption. Russia, Japan, Brazil, Indonesia, Mexico, Germany, Poland, Turkey, Canada and Iran lagged somewhat behind, together comprising a further 27%.

What are the largest producers of urea resins and thiourea resins in primary forms in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 42% of global production.

What are the leading suppliers of urea resins and thiourea resins in primary forms to Sri Lanka?

In value terms, the largest urea and thiourea resins suppliers to Sri Lanka were Oman, Egypt and Iran, with a combined 63% share of total imports. These countries were followed by Saudi Arabia, the United Arab Emirates, India, Malaysia and China, which together accounted for a further 31%.

What are the leading importers of urea resins and thiourea resins in primary forms from Sri Lanka?

In value terms, Bangladesh remains the key foreign market for urea and thiourea resins exports from Sri Lanka, comprising 90% of total exports. The second position in the ranking was occupied by Vietnam $663), with a 5.2% share of total exports.

What is the average export price for urea resins and thiourea resins in primary forms in Sri Lanka?

The average urea and thiourea resins export price stood at $1,118 per ton in 2021, reducing by -17.5% against the previous year.

What is the average import price for urea resins and thiourea resins in primary forms in Sri Lanka?

The average urea and thiourea resins import price stood at $463 per ton in 2021, reducing by -1.6% against the previous year.

This report provides an in-depth analysis of the market for urea and thiourea resins in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20165550 - Urea resins and thiourea resins, in primary forms

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023