Sri Lanka: Market for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Non-Stainless Steel 2024

Market Size for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Non-Stainless Steel in Sri Lanka

The Sri Lankan market for seamless casing, tubing and drill oil or gas pipes of non-stainless steel soared to $X in 2023, jumping 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 saw strong growth. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Exports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Non-Stainless Steel

Exports from Sri Lanka

In 2023, shipments abroad of seamless casing, tubing and drill oil or gas pipes of non-stainless steel increased by X% to X tons, rising for the second consecutive year after five years of decline. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports of failed to regain momentum.

In value terms, exports of seamless casing, tubing and drill oil or gas pipes of non-stainless steel amounted to $X in 2023. Over the period under review, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for exports of seamless casing, tubing and drill oil or gas pipes of non-stainless steel from Sri Lanka, with a X% share of total exports. It was followed by Maldives (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to India amounted to X%.

In value terms, India ($X) remains the key foreign market for seamless casing, tubing and drill oil or gas pipes of non-stainless steel exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to India stood at X%.

Export Prices by Country

The average export price for seamless casing, tubing and drill oil or gas pipes of non-stainless steel stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price faced a sharp decline. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

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 India totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced a decline.

Imports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Non-Stainless Steel

Imports into Sri Lanka

In 2023, approx. X tons of seamless casing, tubing and drill oil or gas pipes of non-stainless steel were imported into Sri Lanka; increasing by X% against the previous year. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, imports of seamless casing, tubing and drill oil or gas pipes of non-stainless steel surged to $X in 2023. Overall, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest seamless casing, tubing and drill oil or gas pipe of non-stainless steel supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, imports of seamless casing, tubing and drill oil or gas pipes of non-stainless steel from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of seamless casing, tubing and drill oil or gas pipes of non-stainless steel to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and India (X% per year).

Import Prices by Country

In 2023, the average import price for seamless casing, tubing and drill oil or gas pipes of non-stainless steel amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced expansion. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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