Thailand: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Thailand

The Thai diethylene glycol and digol market skyrocketed to $X in 2021, rising by 181% against the previous year. In general, consumption, however, showed a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Thailand

In value terms, diethylene glycol and digol production rose significantly to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced descent. The growth pace was the most rapid in 2017 with an increase of 18%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports from Thailand

In 2021, approx. X tons of X-oxydiethanol (diethylene glycol, digol) were exported from Thailand; dropping by -8.9% on the year before. The total export volume increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 25% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, diethylene glycol and digol exports skyrocketed to $X in 2021. In general, total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons), China (X tons) and Indonesia (X tons) were the main destinations of diethylene glycol and digol exports from Thailand, together comprising 38% of total exports. These countries were followed by the Philippines, Vietnam, Pakistan, Japan, India, Malaysia, Bangladesh, Brazil, South Africa and Colombia, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +69.5%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and the Philippines ($X) appeared to be the largest markets for diethylene glycol and digol exported from Thailand worldwide, together accounting for 38% of total exports. These countries were followed by Indonesia, Vietnam, Japan, Pakistan, India, Malaysia, Brazil, Bangladesh, South Africa and Colombia, which together accounted for a further 48%.

South Africa, with a CAGR of +59.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average diethylene glycol and digol export price stood at $X per ton in 2021, jumping by 67% against the previous year. In general, the export price, however, saw a slight decrease. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports into Thailand

In 2021, approx. X tons of X-oxydiethanol (diethylene glycol, digol) were imported into Thailand; with a decrease of -53.8% compared with the previous year's figure. In general, imports saw a dramatic shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 133%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, diethylene glycol and digol imports reduced rapidly to $X in 2021. Over the period under review, imports showed a precipitous shrinkage. The smallest decline of -20.4% was in 2014. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of diethylene glycol and digol to Thailand, accounting for a 63% share of total imports. Moreover, diethylene glycol and digol imports from Malaysia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (0.0% per year) and Japan (-22.4% per year).

In value terms, the largest diethylene glycol and digol suppliers to Thailand were France ($X), Malaysia ($X) and Japan ($X), together accounting for 90% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +0.1%, 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 diethylene glycol and digol import price stood at $X per ton in 2021, with an increase of 2.1% against the previous year. In general, the import price, however, showed a mild decrease. The pace of growth appeared the most rapid in 2016 an increase of 169%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+107.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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