Sri Lanka: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2024

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Sri Lanka

The Sri Lankan polystyrene in primary forms market reduced markedly to $X in 2022, with a decrease of 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). In general, consumption, however, showed a relatively flat trend pattern. Polystyrene in primary forms consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports from Sri Lanka

In 2022, overseas shipments of polystyrene in primary forms (excluding expansible polystyrene) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a temperate expansion. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, polystyrene in primary forms exports declined notably to $X in 2022. Overall, exports showed a mild curtailment. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Iran (X tons) was the main destination for polystyrene in primary forms exports from Sri Lanka, with a X% share of total exports. Moreover, polystyrene in primary forms exports to Iran exceeded the volume sent to the second major destination, Maldives (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran totaled X%.

In value terms, Iran ($X) remains the key foreign market for polystyrene in primary forms (excluding expansible polystyrene) exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran totaled X%.

Export Prices by Country

In 2022, the average polystyrene in primary forms export price amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Iran amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

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Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports into Sri Lanka

In 2022, approx. X tons of polystyrene in primary forms (excluding expansible polystyrene) were imported into Sri Lanka; reducing by X% on 2021 figures. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume 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 decreased by X% against 2015 indices. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, polystyrene in primary forms imports dropped to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X tons), Singapore (X tons) and India (X tons) were the main suppliers of polystyrene in primary forms imports to Sri Lanka, together accounting for X% of total imports. Thailand, South Korea, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene in primary forms suppliers to Sri Lanka were Taiwan (Chinese) ($X), Singapore ($X) and India ($X), together accounting for X% of total imports. Thailand, South Korea, Saudi Arabia and the UK lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the UK, with a CAGR of X%, saw 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

The average polystyrene in primary forms import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Singapore ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform