Sri Lanka: Tyre Cord Fabric Market 2022

Tyre Cord Fabric Market Size in Sri Lanka

In 2021, the Sri Lankan tyre cord fabric market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption showed a relatively flat trend pattern. Tyre cord fabric consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Tyre Cord Fabric Exports

Exports from Sri Lanka

In 2021, overseas shipments of tyre cord fabric of high tenacity yarn were finally on the rise to reach X tons after seven years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, tyre cord fabric exports soared to $X in 2021. Overall, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for tyre cord fabric exports from Sri Lanka, accounting for a X% share of total exports. Moreover, tyre cord fabric exports to Australia exceeded the volume sent to the second major destination, Pakistan (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+X% per year) and India (+X% per year).

In value terms, Australia ($X) remains the key foreign market for tyre cord fabric exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was occupied by Pakistan ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+X% per year) and India (+X% per year).

Export Prices by Country

In 2021, the average tyre cord fabric export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a deep slump. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Pakistan ($X per ton), while the average price for exports to India ($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 Pakistan (-X%), while the prices for the other major destinations experienced a decline.

Tyre Cord Fabric Imports

Imports into Sri Lanka

In 2021, approx. X tons of tyre cord fabric of high tenacity yarn were imported into Sri Lanka; with an increase of X% compared with the previous year's figure. In general, total imports indicated a modest increase from 2012 to 2021: its volume 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. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth imports remained at a lower figure.

In value terms, tyre cord fabric imports rose notably to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest tyre cord fabric supplier to Sri Lanka, accounting for a X% share of total imports. Moreover, tyre cord fabric imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was occupied by Singapore (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of tyre cord fabric to Sri Lanka, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Taiwan (Chinese) (-X% per year).

Import Prices by Country

In 2021, the average tyre cord fabric import price amounted to $X per ton, reducing by -X% against the previous year. Overall, the import price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform