Sri Lanka: Plastic Bag Market 2024

Plastic Bag Market Size in Sri Lanka

The Sri Lankan plastic bag market reduced slightly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Sri Lanka

In value terms, plastic bag production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Plastic bag production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Plastic Bag Exports

Exports from Sri Lanka

In 2022, the amount of plastic sacks and bags exported from Sri Lanka reduced rapidly to X tons, which is down by X% on the previous year's figure. In general, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic bag exports declined to $X in 2022. Over the period under review, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for plastic bag exports from Sri Lanka, accounting for a X% share of total exports. Moreover, plastic bag exports to the United States exceeded the volume sent to the second major destination, France (X tons), threefold. The UK (X tons) 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 amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

In value terms, the United States ($X) remains the key foreign market for plastic sacks and bags exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Seychelles ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Sri Lanka

In 2022, imports of plastic sacks and bags into Sri Lanka amounted to X tons, growing by X% compared with the previous year. Over the period under review, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic bag imports rose slightly to $X in 2022. Overall, total imports indicated a slight expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Hong Kong SAR (X tons) were the main suppliers of plastic bag imports to Sri Lanka, together comprising X% of total imports. The Philippines, South Korea, Thailand, the United States, Germany, Malaysia and Singapore 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 Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Hong Kong SAR ($X) were the largest plastic bag suppliers to Sri Lanka, together accounting for X% of total imports. Thailand, the United States, Malaysia, Germany, Singapore, South Korea and the Philippines lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, import price indicated a buoyant expansion 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, plastic bag import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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