Sri Lanka: Textile Tubing Market 2023

Textile Tubing Market Size in Sri Lanka

The Sri Lankan textile tubing market rose modestly to $X in 2021, with an increase of 4.9% against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.5% against 2019 indices. Textile tubing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Textile Tubing Production in Sri Lanka

In value terms, textile tubing production stood at $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.0% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 40%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Textile Tubing Exports

Exports from Sri Lanka

Textile tubing exports from Sri Lanka dropped remarkably to X tons in 2021, shrinking by -53.7% compared with 2020 figures. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 1,086%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, textile tubing exports contracted to $X in 2021. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 620% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons) was the main destination for textile tubing exports from Sri Lanka, accounting for a 92% share of total exports. It was followed by the UK (X kg), with a 2.3% share of total exports. The third position in this ranking was taken by Maldives (X kg), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-17.2% per year) and Maldives (+20.9% per year).

In value terms, Jordan ($X) emerged as the key foreign market for textile hosepiping and similar textile tubing exports from Sri Lanka, comprising 89% of total exports. The second position in the ranking was taken by the UK ($X), with a 6% share of total exports. It was followed by Maldives, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-14.8% per year) and Maldives (+8.3% per year).

Export Prices by Country

In 2021, the average textile tubing export price amounted to $X per ton, rising by 88% against the previous year. Over the period under review, the export price, however, saw a pronounced contraction. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to India ($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 the UK (+3.1%), while the prices for the other major destinations experienced a decline.

Textile Tubing Imports

Imports into Sri Lanka

In 2021, purchases abroad of textile hosepiping and similar textile tubing increased by 28% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 134%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, textile tubing imports soared to $X in 2021. Over the period under review, imports posted a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 113%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), India (X tons) and Malaysia (X tons) were the main suppliers of textile tubing imports to Sri Lanka, with a combined 83% share of total imports. The United Arab Emirates, the UK and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +60.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest textile tubing suppliers to Sri Lanka were China ($X), India ($X) and Malaysia ($X), together accounting for 65% of total imports. These countries were followed by the United Arab Emirates, the UK and Taiwan (Chinese), which together accounted for a further 23%.

The United Arab Emirates, with a CAGR of +72.8%, recorded the highest rates of growth with regard to 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

In 2021, the average textile tubing import price amounted to $X per ton, which is down by -9.1% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 38% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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