Report Update Apr 1, 2024

Sri Lanka - Salicylic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Salicylic Acid Market 2024

Salicylic Acid Market Size in Sri Lanka

In 2021, the Sri Lankan salicylic acid market decreased by -68.9% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, showed a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Salicylic Acid Exports

Exports from Sri Lanka

For the tenth consecutive year, Sri Lanka recorded growth in shipments abroad of salicylic acid and its salts, which increased by 19% to X tons in 2021. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 47%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, salicylic acid exports reached $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when exports increased by 6% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Maldives (X tons) was the main destination for salicylic acid exports from Sri Lanka, accounting for a approx. 63% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives totaled +17.0%.

In value terms, Maldives ($X) also remains the key foreign market for salicylic acid and its salts exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives stood at +2.9%.

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, falling by -13.5% against the previous year. In general, the export price faced a abrupt decrease. The growth pace was the most rapid in 2020 a decrease of -13.5%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Maldives.

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to -12.1% per year.

Salicylic Acid Imports

Imports into Sri Lanka

In 2021, after two years of growth, there was significant decline in supplies from abroad of salicylic acid and its salts, when their volume decreased by -53.7% to X tons. Over the period under review, imports, however, recorded prominent growth. The growth pace was the most rapid in 2016 when imports increased by 240% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, salicylic acid imports declined remarkably to $X in 2021. In general, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 186% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest salicylic acid supplier to Sri Lanka, accounting for a 74% share of total imports. Moreover, salicylic acid imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +14.8%.

In value terms, India ($X) constituted the largest supplier of salicylic acid and its salts to Sri Lanka, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India amounted to +15.9%.

Import Prices by Country

The average salicylic acid import price stood at $X per ton in 2021, surging by 3.4% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid import price increased by +102.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 71%. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salicylic acid and its salts in the world?

The countries with the highest volumes of consumption in 2021 were India, Brazil and the United States, with a combined 62% share of global consumption. These countries were followed by Mexico, Spain, Thailand, Germany, China and Malaysia, which together accounted for a further 20%.

What are the largest producers of salicylic acid and its salts in the world?

The country with the largest volume of salicylic acid production was China, accounting for 54% of total volume. Moreover, salicylic acid production in China exceeded the figures recorded by the second-largest producer, Brazil, twofold. France ranked third in terms of total production with an 18% share.

What are the leading suppliers of salicylic acid and its salts to Sri Lanka?

In value terms, India constituted the largest supplier of salicylic acid and its salts to Sri Lanka, comprising 75% of total imports. The second position in the ranking was held by China, with a 21% share of total imports.

What are the leading importers of salicylic acid and its salts from Sri Lanka?

In value terms, Maldives remains the key foreign market for salicylic acid and its salts exports from Sri Lanka.

What is the average export price for salicylic acid and its salts in Sri Lanka?

In 2021, the average salicylic acid export price amounted to $443 per ton, which is down by -13.5% against the previous year.

What is the average import price for salicylic acid and its salts in Sri Lanka?

The average salicylic acid import price stood at $5,662 per ton in 2021, increasing by 3.4% against the previous year.

This report provides an in-depth analysis of the salicylic acid market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21101030 - Salicylic acid and its salts

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023