Sri Lanka: Ship Propeller Market 2022

Ship Propeller Market Size in Sri Lanka

In 2021, the Sri Lankan ship propeller market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, faced a deep setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Ship Propeller Exports

Exports from Sri Lanka

In 2021, shipments abroad of ships’ or boats’ propellers and blades therefor decreased by -X% to X tons for the first time since 2013, thus ending a seven-year rising trend. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, ship propeller exports reduced to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2020, and then shrank in the following year.

Exports by Country

The United States (X tons) was the main destination for ship propeller exports from Sri Lanka, accounting for a X% share of total exports. Moreover, ship propeller exports to the United States exceeded the volume sent to the second major destination, Maldives (X kg), sevenfold. The third position in this ranking was occupied by the UK (X kg), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+X% per year) and the UK (+X% per year).

In value terms, the United States ($X) remains the key foreign market for ship propeller exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was occupied by Spain ($X), with a X% share of total exports. It was followed by Maldives, with a X% share.

From 2012 to 2021, 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: Spain (X% per year) and Maldives (+X% per year).

Export Prices by Country

The average ship propeller export price stood at $X per ton in 2021, rising by X% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ship propeller export price decreased by -X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced a decline.

Ship Propeller Imports

Imports into Sri Lanka

In 2021, after four years of decline, there was significant growth in purchases abroad of ships’ or boats’ propellers and blades therefor, when their volume increased by X% to X tons. Overall, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth imports remained at a lower figure.

In value terms, ship propeller imports amounted to $X in 2021. In general, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

Singapore (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of ship propeller imports to Sri Lanka, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of ship propeller to Sri Lanka, comprising X% of total imports. The second position in the ranking was occupied by Sweden ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-X% per year) and China (-X% per year).

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2021, standing approx. at the previous year. In general, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Sweden ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform