Sri Lanka: Market for Articles Of Non-Malleable Cast Iron 2024

Market Size for Articles Of Non-Malleable Cast Iron in Sri Lanka

The Sri Lankan non-malleable cast iron articles market reduced dramatically to $X in 2022, declining 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 recorded a deep slump. Non-malleable cast iron articles consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Articles Of Non-Malleable Cast Iron

Exports from Sri Lanka

In 2022, shipments abroad of articles of non-malleable cast iron was finally on the rise to reach X tons after two years of decline. Overall, exports saw a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-malleable cast iron articles exports skyrocketed to $X in 2022. Over the period under review, exports showed a resilient expansion. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for non-malleable cast iron articles exports from Sri Lanka, accounting for a X% share of total exports. Moreover, non-malleable cast iron articles exports to the United States exceeded the volume sent to the second major destination, Malaysia (X kg), fourfold. Maldives (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Maldives (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for articles of non-malleable cast iron exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total exports. It was followed by Maldives, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Maldives (X% per year).

Export Prices by Country

In 2022, the average non-malleable cast iron articles export price amounted to $X per ton, stabilizing at the previous year. In general, the export price saw a mild slump. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Malaysia ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Articles Of Non-Malleable Cast Iron

Imports into Sri Lanka

In 2022, overseas purchases of articles of non-malleable cast iron decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, non-malleable cast iron articles imports shrank markedly to $X in 2022. Overall, imports recorded a deep setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of non-malleable cast iron articles to Sri Lanka, with a X% share of total imports. Moreover, non-malleable cast iron articles imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Singapore (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 totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Singapore (X% per year).

In value terms, the largest non-malleable cast iron articles suppliers to Sri Lanka were China ($X), Spain ($X) and Singapore ($X), together comprising X% of total imports.

In terms of the main suppliers, Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average non-malleable cast iron articles import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price saw a modest increase. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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