Sri Lanka: Glass Fibre Fabrics Market 2025

Glass Fibre Fabrics Market Size in Sri Lanka

In 2022, the Sri Lankan glass fibre fabrics market increased by 25% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, continues to indicate resilient growth. Glass fibre fabrics consumption peaked in 2022 and is likely to continue growth in the immediate term.

Glass Fibre Fabrics Exports

Exports from Sri Lanka

For the third year in a row, Sri Lanka recorded decline in shipments abroad of glass fibre fabrics, which decreased by -94.1% to X kg in 2022. In general, exports showed a precipitous setback. The pace of growth was the most pronounced in 2019 with an increase of 20,710% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fibre fabrics exports shrank markedly to $X in 2022. Overall, exports continue to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 10,278% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Maldives (X kg) was the main destination for glass fibre fabrics exports from Sri Lanka, accounting for a 99% share of total exports. It was followed by the UK (X kg), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at -3.3%.

In value terms, Maldives ($X) emerged as the key foreign market for glass fibre fabrics exports from Sri Lanka, comprising 100% of total exports. The second position in the ranking was held by the UK ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at +4.5%.

Export Prices by Country

In 2022, the average glass fibre fabrics export price amounted to $X per ton, increasing by 55% against the previous year. Overall, the export price, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 244% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to the UK amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+150.1%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Fibre Fabrics Imports

Imports into Sri Lanka

After two years of growth, supplies from abroad of glass fibre fabrics decreased by -19.9% to X tons in 2022. Overall, imports, however, recorded prominent growth. The growth pace was the most rapid in 2020 when imports increased by 119%. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted notably in the following year.

In value terms, glass fibre fabrics imports soared to $X in 2022. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 157% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The Czech Republic (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of glass fibre fabrics imports to Sri Lanka, together comprising 83% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +81.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constituted the largest supplier of glass fibre fabrics to Sri Lanka, comprising 77% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by China, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from the Czech Republic stood at +109.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+32.1% per year) and China (+12.4% per year).

Import Prices by Country

The average glass fibre fabrics import price stood at $X per ton in 2022, with an increase of 96% against the previous year. In general, the import price showed strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :