Sri Lanka: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2023

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Sri Lanka

The Sri Lankan market for line pipe of steel other than stainless steel for oil or gas pipelines declined to $X in 2022, dropping by -13.4% 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, however, saw a buoyant expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from Sri Lanka

In 2022, the amount of line pipe of steel other than stainless steel for oil or gas pipelines exported from Sri Lanka fell dramatically to X tons, shrinking by -38.5% on the year before. Over the period under review, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 464% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines dropped modestly to $X in 2022. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 366%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Maldives (X tons) was the main destination for exports of line pipe of steel other than stainless steel for oil or gas pipelines from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Maldives amounted to +7.2%.

In value terms, Maldives ($X) also remains the key foreign market for line pipe of steel other than stainless steel for oil or gas pipelines exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to +10.4%.

Export Prices by Country

In 2022, the average export price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, surging by 58% against the previous year. In general, the export price continues to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 173%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average 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 2022, the rate of growth in terms of prices for Bangladesh amounted to +87.4% per year.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into Sri Lanka

In 2022, approx. X tons of line pipe of steel other than stainless steel for oil or gas pipelines were imported into Sri Lanka; waning by -27.2% compared with 2021 figures. Overall, imports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2018 with an increase of 434% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines declined to $X in 2022. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of 254%. Over the period under review, imports of attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest line pipe of steel other than stainless steel for oil or gas pipelines supplier to Sri Lanka, accounting for a 79% share of total imports. Moreover, imports of line pipe of steel other than stainless steel for oil or gas pipelines from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-4.2% per year) and Italy (+11.8% per year).

In value terms, China ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Sri Lanka, comprising 72% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by Malaysia, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+23.3% per year) and Malaysia (+36.9% per year).

Import Prices by Country

In 2022, the average import price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, growing by 28% against the previous year. Overall, the import price posted a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 67% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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