Sri Lanka: Market for Polyolefins other than Polypropylene 2024

Market Size for Polyolefins other than Polypropylene in Sri Lanka

The Sri Lankan polyolefins other than polypropylene market skyrocketed to $X in 2023, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Exports of Polyolefins other than Polypropylene

Exports from Sri Lanka

In 2023, shipments abroad of polyolefins other than polypropylene increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, polyolefins other than polypropylene exports shrank to $X in 2023. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Spain (X tons) and India (X tons) were the main destinations of polyolefins other than polypropylene exports from Sri Lanka, together comprising X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Malaysia ($X), Spain ($X) and India ($X) constituted the largest markets for polyolefins other than polypropylene exported from Sri Lanka worldwide, together comprising X% of total exports.

Among the main countries of destination, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average polyolefins other than polypropylene export price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, polyolefins other than polypropylene export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then contracted in the following year.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and India ($X per ton), while the average price for exports to China ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyolefins other than Polypropylene

Imports into Sri Lanka

Polyolefins other than polypropylene imports into Sri Lanka soared to X tons in 2023, jumping by X% against 2022 figures. In general, imports posted a buoyant increase. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, polyolefins other than polypropylene imports skyrocketed to $X in 2023. Overall, total imports indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and South Korea (X tons) were the main suppliers of polyolefins other than polypropylene imports to Sri Lanka, with a combined X% share of total imports.

From 2012 to 2023, 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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyolefins other than polypropylene suppliers to Sri Lanka were the United Arab Emirates ($X), Saudi Arabia ($X) and South Korea ($X), together accounting for X% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average polyolefins other than polypropylene import price amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform