Sri Lanka: Market for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm 2022

Market Size for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm in Sri Lanka

The Sri Lankan market for aluminium alloy plates, sheets and strip of thickness over X mm skyrocketed to $X in 2021, 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). Over the period under review, consumption showed a significant expansion. Consumption of peaked in 2021 and is likely to continue growth in years to come.

Exports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Exports from Sri Lanka

In 2021, overseas shipments of aluminium alloy plates, sheets and strip of thickness over X mm increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of aluminium alloy plates, sheets and strip of thickness over X mm contracted modestly to $X in 2021. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for exports of aluminium alloy plates, sheets and strip of thickness over X mm from Sri Lanka, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +X%.

From 2012 to 2021, the average annual growth rate of value to Maldives amounted to +X%.

Export Prices by Country

The average export price for aluminium alloy plates, sheets and strip of thickness over X mm stood at $X per ton in 2021, falling by -X% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -X% per year.

Imports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Imports into Sri Lanka

In 2021, imports of aluminium alloy plates, sheets and strip of thickness over X mm into Sri Lanka surged to X tons, growing by X% compared with the previous year's figure. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of aluminium alloy plates, sheets and strip of thickness over X mm surged to $X in 2021. In general, imports posted significant growth. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aluminium alloy plate, sheet and strip of thickness over X mm to Sri Lanka, accounting for a X% share of total imports. Moreover, imports of aluminium alloy plates, sheets and strip of thickness over X mm from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (-X% per year).

In value terms, China ($X) constituted the largest supplier of aluminium alloy plate, sheet and strip of thickness over X mm to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (-X% per year).

Import Prices by Country

The average import price for aluminium alloy plates, sheets and strip of thickness over X mm stood at $X per ton in 2021, picking up by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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