Sri Lanka: Flat Glass Market 2024

Flat Glass Market Size in Sri Lanka

The Sri Lankan flat glass market contracted to $X in 2021, with a decrease of -5.7% 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 moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.3% against 2018 indices. Flat glass consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Flat Glass Exports

Exports from Sri Lanka

In 2021, the amount of flat glass exported from Sri Lanka contracted to X tons, dropping by -6.9% compared with the previous year's figure. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 266%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, flat glass exports fell dramatically to $X in 2021. In general, exports recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 322% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for flat glass exports from Sri Lanka, accounting for a 83% share of total exports. Moreover, flat glass exports to Maldives exceeded the volume sent to the second major destination, Oman (X tons), sixfold. The third position in this ranking was held by Singapore (X tons), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Maldives was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+0.1% per year) and Singapore (-15.8% per year).

In value terms, Maldives ($X) remains the key foreign market for flat glass exports from Sri Lanka, comprising 77% of total exports. The second position in the ranking was taken by Oman ($X), with a 19% share of total exports. It was followed by Singapore, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+11.5% per year) and Singapore (-10.6% per year).

Export Prices by Country

The average flat glass export price stood at $X per ton in 2021, falling by -11.1% against the previous year. Over the period under review, the export price, however, posted a pronounced increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 126%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Maldives ($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 Oman (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

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Flat Glass Imports

Imports into Sri Lanka

In 2021, approx. X tons of flat glass were imported into Sri Lanka; declining by -11.2% against the previous year's figure. Overall, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.6% against 2018 indices. The growth pace was the most rapid in 2017 when imports increased by 90%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, flat glass imports contracted modestly to $X in 2021. In general, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +21.5% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 63% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest flat glass supplier to Sri Lanka, accounting for a 43% share of total imports. Moreover, flat glass imports from India exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), twofold. The Philippines (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+69.0% per year) and the Philippines (+22.8% per year).

In value terms, India ($X) constituted the largest supplier of flat glass to Sri Lanka, comprising 46% of total imports. The second position in the ranking was held by Pakistan ($X), with a 19% share of total imports. It was followed by Oman, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+53.4% per year) and Oman (+236.5% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the import price showed mild growth. The pace of growth was the most pronounced in 2013 an increase of 80% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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