Sri Lanka: Synthetic Yarn Market 2025

Synthetic Yarn Market Size in Sri Lanka

In 2022, the Sri Lankan synthetic yarn market increased by X% to $X, rising for the sixth year in a row after two years of decline. In general, consumption, however, posted a strong increase. Synthetic yarn consumption peaked in 2022 and is likely to continue growth in years to come.

Synthetic Yarn Exports

Exports from Sri Lanka

For the third consecutive year, Sri Lanka recorded decline in overseas shipments of yarn of synthetic or artificial staple fibers, which decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, synthetic yarn exports reduced slightly to $X in 2022. In general, exports recorded a significant decrease. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), Turkey (X tons) and Poland (X tons) were the main destinations of synthetic yarn exports from Sri Lanka, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, India ($X) emerged as the key foreign market for yarn of synthetic or artificial staple fibers exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the average synthetic yarn export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic yarn export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in years to come.

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

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

Synthetic Yarn Imports

Imports into Sri Lanka

In 2022, approx. X tons of yarn of synthetic or artificial staple fibers were imported into Sri Lanka; approximately mirroring the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, synthetic yarn imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest synthetic yarn supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, synthetic yarn imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Vietnam (X% per year).

In value terms, the largest synthetic yarn suppliers to Sri Lanka were China ($X), India ($X) and Vietnam ($X), together comprising X% of total imports. Pakistan, Thailand, Indonesia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Pakistan, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average synthetic yarn import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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