Sri Lanka: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Sri Lanka

In 2021, the Sri Lankan market for wood residues, pellets and other agglomerates decreased by -18.5% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, enjoyed a moderate expansion. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Wood Residues, Pellets And Other Agglomerates in Sri Lanka

In value terms, production of wood residues, pellets and other agglomerates reduced modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2016 to 2021, production of growth remained at a lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports from Sri Lanka

In 2021, overseas shipments of wood residues, pellets and other agglomerates increased by 12% to X cubic meters, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate mild growth. The most prominent rate of growth was recorded in 2016 when exports increased by 79%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of wood residues, pellets and other agglomerates skyrocketed to $X in 2021. In general, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of 74%. Over the period under review, the exports of reached the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Oman (X cubic meters) was the main destination for exports of wood residues, pellets and other agglomerates from Sri Lanka, with a 72% share of total exports. Moreover, exports of wood residues, pellets and other agglomerates to Oman exceeded the volume sent to the second major destination, South Korea (X cubic meters), sixfold. The third position in this ranking was taken by Qatar (X cubic meters), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Oman was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+9.9% per year) and Qatar (+139.5% per year).

In value terms, Oman ($X) remains the key foreign market for wood residues, pellets and other agglomerates exports from Sri Lanka, comprising 80% of total exports. The second position in the ranking was taken by South Korea ($X), with a 7.2% share of total exports. It was followed by Qatar, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to Oman totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+11.2% per year) and Qatar (+130.9% per year).

Export Prices by Country

In 2021, the average export price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, increasing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2015 an increase of 34%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per cubic meter), while the average price for exports to the United Arab Emirates ($X per cubic meter) 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 Arab Emirates (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports into Sri Lanka

In 2021, the amount of wood residues, pellets and other agglomerates imported into Sri Lanka skyrocketed to X cubic meters, jumping by 195% on the previous year. In general, imports posted a significant increase. The growth pace was the most rapid in 2019 with an increase of 432%. As a result, imports reached the peak of X cubic meters. From 2020 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of wood residues, pellets and other agglomerates surged to $X in 2021. Over the period under review, imports saw a strong expansion. The pace of growth was the most pronounced in 2019 when imports increased by 1,125%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X cubic meters), Vietnam (X cubic meters) and India (X cubic meters) were the main suppliers of imports of wood residues, pellets and other agglomerates to Sri Lanka, with a combined 80% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +1,239.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood residues, pellets and other agglomerates suppliers to Sri Lanka were India ($X), Vietnam ($X) and the United States ($X), with a combined 57% share of total imports. France and the United Arab Emirates lagged somewhat behind, together comprising a further 23%.

The United Arab Emirates, with a CAGR of +233.2%, recorded the highest rates of growth with regard to the value of imports, among 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 import price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2021, dropping by -23.9% against the previous year. In general, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 130%. The import price peaked at $X per cubic meter in 2016; however, from 2017 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 India ($X per cubic meter), while the price for the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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