Sri Lanka: Uncoated Felt Paper Market 2023

Uncoated Felt Paper Market Size in Sri Lanka

In 2021, the Sri Lankan uncoated felt paper market decreased by -91.7% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption saw a precipitous setback. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Uncoated Felt Paper Production in Sri Lanka

In value terms, uncoated felt paper production shrank to $X in 2021 estimated in export price. In general, production showed a mild downturn. The pace of growth was the most pronounced in 2019 with an increase of 3.7%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Uncoated Felt Paper Exports

Exports from Sri Lanka

For the sixth year in a row, Sri Lanka recorded growth in overseas shipments of uncoated felt paper and paperboard, which increased by 44% to X tons in 2021. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 751% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, uncoated felt paper exports surged to $X in 2021. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 767% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Maldives (X tons) was the main destination for uncoated felt paper exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +64.6%.

In value terms, Maldives ($X) also remains the key foreign market for uncoated felt paper exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives stood at +37.9%.

Export Prices by Country

The average uncoated felt paper export price stood at $X per ton in 2021, which is down by -1.7% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 9,372% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained 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 -16.2% per year.

Uncoated Felt Paper Imports

Imports into Sri Lanka

In 2021, approx. X kg of uncoated felt paper and paperboard were imported into Sri Lanka; reducing by -12.6% compared with the previous year. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 15,671% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, uncoated felt paper imports dropped modestly to $X in 2021. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 19,070%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X kg) constituted the largest supplier of uncoated felt paper to Sri Lanka, with a 61% share of total imports. Moreover, uncoated felt paper imports from India exceeded the figures recorded by the second-largest supplier, Malaysia (X kg), twofold. The third position in this ranking was held by the United States (X kg), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+24.8% per year) and the United States (-8.9% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and India ($X) appeared to be the largest uncoated felt paper suppliers to Sri Lanka, with a combined 92% share of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +39.8%, saw the highest growth rate of the value of imports, 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 uncoated felt paper import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, uncoated felt paper import price increased by +48.3% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 44%. The import price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+34.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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