Report Update: Apr 1, 2024

Sri Lanka - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in Sri Lanka - 2021

Price for Processed Petroleum Oils and Distillates in Sri Lanka (CIF) - 2022

In 2022, the average import price for processed petroleum oils and distillates amounted to $611 per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. The growth pace was the most rapid in 2017 an increase of 45% against the previous year. Over the period under review, average import prices reached the maximum at $1,008 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($692 per ton) and India ($633 per ton), while the price for Singapore ($567 per ton) and the United Arab Emirates ($576 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-3.3%), while the prices for the other major suppliers experienced a decline.

Price for Processed Petroleum Oils and Distillates in Sri Lanka (FOB) - 2022

In 2022, the average export price for processed petroleum oils and distillates amounted to $491 per ton, remaining stable against the previous year. In general, the export price recorded a sharp downturn. The pace of growth appeared the most rapid in 2017 an increase of 69% against the previous year. The export price peaked at $8,280 per ton in 2012; however, from 2013 to 2022, the 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 Saudi Arabia ($603 per ton), while the average price for exports to Singapore ($381 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 (-23.4%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates in Sri Lanka

In 2022, the amount of processed petroleum oils and distillates imported into Sri Lanka skyrocketed to 6.3M tons, with an increase of 40% against 2021 figures. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 73%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, processed petroleum oils and distillates imports soared to $3.9B in 2022. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 139% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Processed Petroleum Oils and Distillates in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	710	332	988	2,098	43.5%
Singapore	551	435	523	484	-4.2%
Malaysia	460	195	219	345	-9.1%
United Arab Emirates	46.3	17.1	12.0	66.8	13.0%
China	48.9	126	2.6	13.8	-34.4%
Saudi Arabia	N/A	N/A	163	N/A	0%
Others	56.3	47.3	845	856	147.7%
Total	1,872	1,152	2,754	3,863	27.3%

Top Suppliers of Processed Petroleum Oils and Distillates to Sri Lanka in 2022:

China (undefinedM tons)
India (3.3M tons)
Singapore (0.9M tons)
Malaysia (0.6M tons)
United Arab Emirates (0.1M tons)

Exports of Processed Petroleum Oils and Distillates in Sri Lanka

Processed petroleum oils and distillates exports from Sri Lanka surged to 491K tons in 2022, with an increase of 37% on the year before. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 96%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates exports surged to $241M in 2022. Over the period under review, exports, however, continue to indicate a noticeable reduction.

Export of Processed Petroleum Oils and Distillates in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	72.0	68.9	45.8	68.1	-1.8%
Singapore	48.9	38.6	24.1	36.4	-9.4%
Bangladesh	16.7	20.7	18.6	34.4	27.2%
Hong Kong SAR	1.0	8.2	6.7	15.7	150.4%
Malaysia	2.3	14.1	30.0	13.7	81.3%
South Africa	11.6	5.0	10.4	8.3	-10.6%
Saudi Arabia	N/A	N/A	N/A	5.8	0%
Egypt	1.1	1.6	3.2	5.3	68.9%
Indonesia	4.3	4.6	3.8	4.6	2.3%
Others	99.3	75.1	33.8	49.3	-20.8%
Total	257	237	176	241	-2.1%

Top Export Markets for Processed Petroleum Oils and Distillates from Sri Lanka in 2022:

India (125.2K tons)
Singapore (95.5K tons)
Bangladesh (58.1K tons)
Hong Kong SAR (38.9K tons)
Malaysia (25.6K tons)
South Africa (17.7K tons)
Egypt (10.6K tons)
Indonesia (10.3K tons)
Saudi Arabia (9.5K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023