Sri Lanka: Metal Coated Electrode Market 2022

Metal Coated Electrode Market Size in Sri Lanka

The Sri Lankan metal coated electrode market surged to $X in 2021, picking up 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). The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Metal coated electrode consumption peaked in 2021 and is likely to continue growth in the near future.

Metal Coated Electrode Exports

Exports from Sri Lanka

In 2021, the amount of base metal coated electrodes for electric arc-welding exported from Sri Lanka dropped dramatically to X tons, with a decrease of -X% compared with the previous year's figure. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal coated electrode exports dropped sharply to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for metal coated electrode exports from Sri Lanka, accounting for a X% share of total exports. Moreover, metal coated electrode exports to Maldives exceeded the volume sent to the second major destination, Ethiopia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Maldives stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-X% per year) and the Netherlands (+X% per year).

In value terms, Maldives ($X) remains the key foreign market for metal coated electrode exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by Ethiopia ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (-X% per year) and the Netherlands (+X% per year).

Export Prices by Country

In 2021, the average metal coated electrode export price amounted to $X per ton, which is down by -X% against the previous year. Overall, the export price, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Coated Electrode Imports

Imports into Sri Lanka

In 2021, imports of base metal coated electrodes for electric arc-welding into Sri Lanka expanded sharply to X tons, increasing by X% against the year before. Over the period under review, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, metal coated electrode imports surged to $X in 2021. The total import value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of metal coated electrode to Sri Lanka, with a X% share of total imports. Moreover, metal coated electrode imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

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

In value terms, China ($X) constituted the largest supplier of metal coated electrode to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with an X% share of total imports.

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

Import Prices by Country

The average metal coated electrode import price stood at $X per ton in 2021, surging by X% against the previous year. In general, the import price, however, continues to indicate a mild reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably countryorigin: the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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