Sri Lanka: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in Sri Lanka

The Sri Lankan metal pickling preparations market shrank remarkably to $X in 2022, dropping 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). Overall, consumption, however, showed a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then shrank markedly in the following year.

Metal Pickling Preparations Exports

Exports from Sri Lanka

In 2022, after two years of decline, there was significant growth in shipments abroad of pickling preparations for metal surfaces, when their volume increased by X% to X kg. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at X kg in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, metal pickling preparations exports skyrocketed to $X in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X kg) was the main destination for metal pickling preparations exports from Sri Lanka, accounting for a X% share of total exports. Moreover, metal pickling preparations exports to India exceeded the volume sent to the second major destination, Maldives (X kg), fivefold. Poland (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 India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Poland (X% per year).

In value terms, India ($X) emerged as the key foreign market for pickling preparations for metal surfaces exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the average metal pickling preparations export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Poland ($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 Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Pickling Preparations Imports

Imports into Sri Lanka

In 2022, metal pickling preparations imports into Sri Lanka declined markedly to X tons, dropping by X% compared with the year before. Over the period under review, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal pickling preparations imports contracted to $X in 2022. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

China (X tons), India (X tons) and the United Arab Emirates (X tons) were the main suppliers of metal pickling preparations imports to Sri Lanka, together accounting for X% of total imports. Indonesia, Singapore, Turkey and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal pickling preparations suppliers to Sri Lanka were India ($X), Indonesia ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

Among the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal pickling preparations import price amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal pickling preparations import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Turkey ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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