Sri Lanka: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2021

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Sri Lanka

In 2020, after three years of growth, there was significant decline in the Sri Lankan market for wood chips, parts, residues, pellets and other agglomerates, when its value decreased by -X% to $X. Over the period under review, consumption enjoyed significant growth. The pace of growth appeared the most rapid in 2008 when the market value increased by X% year-to-year. Consumption peaked at $X in 2019, and then reduced sharply in the following year.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Sri Lanka

In value terms, production of wood chips, parts, residues, pellets and other agglomerates fell significantly to $X in 2020 estimated in export prices. Overall, production continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, production attained the peak level at $X in 2007; however, from 2008 to 2020, production failed to regain the momentum.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports from Sri Lanka

In 2020, overseas shipments of wood chips, parts, residues, pellets and other agglomerates decreased by -X% to X cubic meters, falling for the third consecutive year after two years of growth. In general, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2016 with an increase of X% y-o-y. Over the period under review, exports attained the maximum at X cubic meters in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates contracted dramatically to $X in 2020. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Exports peaked at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Saudi Arabia (X cubic meters), South Korea (X cubic meters) and the United Arab Emirates (X cubic meters) were the main destinations of exports of wood chips, parts, residues, pellets and other agglomerates from Sri Lanka, with a combined X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for wood chips, parts, residues, pellets and other agglomerates exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to South Korea amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-X% per year) and the United Arab Emirates (+X% per year).

Export Prices by Country

The average export price for wood chips, parts, residues, pellets and other agglomerates stood at $X per cubic meter in 2020, declining by -X% against the previous year. Overall, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per cubic meter in 2007; however, from 2008 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was South Korea ($X per cubic meter), while the average price for exports to Saudi Arabia ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports into Sri Lanka

In 2020, overseas purchases of wood chips, parts, residues, pellets and other agglomerates decreased by -X% to X cubic meters, falling for the second consecutive year after seven years of growth. In general, imports recorded a significant decline. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X cubic meters in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates declined dramatically to $X in 2020. Over the period under review, imports faced a deep slump. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2007; however, from 2008 to 2020, imports remained at a lower figure.

Imports by Country

Vietnam (X cubic meters), India (X cubic meters) and the U.S. (X cubic meters) were the main suppliers of imports of wood chips, parts, residues, pellets and other agglomerates to Sri Lanka, with a combined X% share of total imports.

From 2007 to 2020, the biggest increases were in the U.S. (+X% per year), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X), India ($X) and the U.S. ($X) were the largest wood chips, parts, residues, pellets and other agglomerates suppliers to Sri Lanka, with a combined X% share of total imports.

Among the main suppliers, the U.S. saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for wood chips, parts, residues, pellets and other agglomerates stood at $X per cubic meter in 2020, growing by X% against the previous year. In general, the import price saw pronounced growth. The growth pace was the most rapid in 2008 an increase of X% y-o-y. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2009; however, from 2010 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was India ($X per cubic meter), while the price for Vietnam ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Vietnam, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform