Sri Lanka: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Sri Lanka

In 2021, the Sri Lankan vulcanised cellular rubber articles market decreased by -1.7% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, continues to indicate a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in Sri Lanka

In value terms, vulcanised cellular rubber articles production rose modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 32%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Sri Lanka

After four years of decline, shipments abroad of vulcanised cellular rubber articles for technical uses increased by 6,004% to X tons in 2021. Over the period under review, exports, however, continue to indicate a abrupt downturn. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised cellular rubber articles exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 5,018%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons), Uruguay (X tons) and Germany (X tons) were the main destinations of vulcanised cellular rubber articles exports from Sri Lanka, with a combined 74% share of total exports. These countries were followed by Kuwait, Qatar, Canada, Australia, Oman, the United States and Cambodia, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +68.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vulcanised cellular rubber articles exported from Sri Lanka were Uruguay ($X), the UK ($X) and Canada ($X), together comprising 57% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +67.7%, saw 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 vulcanised cellular rubber articles export price stood at $X per ton in 2021, falling by -33.5% against the previous year. Overall, the export price saw a deep reduction. The growth pace was the most rapid in 2018 when the average export price increased by 5%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Oman ($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 the United States (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Sri Lanka

In 2021, imports of vulcanised cellular rubber articles for technical uses into Sri Lanka skyrocketed to X tons, jumping by 38% on the year before. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 489% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, vulcanised cellular rubber articles imports surged to $X in 2021. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 541% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates (X tons), Italy (X tons) and China (X tons) were the main suppliers of vulcanised cellular rubber articles imports to Sri Lanka, together accounting for 68% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +125.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United Arab Emirates ($X) and China ($X) appeared to be the largest vulcanised cellular rubber articles suppliers to Sri Lanka, together accounting for 64% of total imports.

The United Arab Emirates, with a CAGR of +82.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vulcanised cellular rubber articles import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Overall, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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