Thailand: Alumina Market 2024

Alumina Market Size in Thailand

The Thai alumina market surged to $X in 2022, rising by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate buoyant growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Alumina Exports

Exports from Thailand

In 2022, the amount of alumina exported from Thailand fell remarkably to X tons, waning by -65.4% against the year before. In general, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 154% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, alumina exports contracted significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 283%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for alumina exports from Thailand, with a 66% share of total exports. Moreover, alumina exports to Vietnam exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by the Philippines (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at -9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.0% per year) and the Philippines (+10.1% per year).

In value terms, Japan ($X), Vietnam ($X) and China ($X) appeared to be the largest markets for alumina exported from Thailand worldwide, with a combined 83% share of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +8.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average alumina export price amounted to $X per ton, which is down by -57.8% against the previous year. In general, the export price, however, posted a strong increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 101% against the previous year. The export price peaked at $X per ton in 2021, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+72.8%), while the prices for the other major destinations experienced more modest paces of growth.

Alumina Imports

Imports into Thailand

In 2022, overseas purchases of alumina increased by 29% to X tons, rising for the third consecutive year after two years of decline. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, alumina imports expanded remarkably to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.3% against 2014 indices. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), India (X tons) and Japan (X tons) were the main suppliers of alumina imports to Thailand, together comprising 63% of total imports. France, Indonesia, South Korea, Turkey, the Netherlands and Germany lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +81.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and India ($X) were the largest alumina suppliers to Thailand, with a combined 70% share of total imports. France, Turkey, South Korea, Germany, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 26%.

Turkey, with a CAGR of +90.5%, recorded the highest growth rate of the value of imports, among 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 2022, the average alumina import price amounted to $X per ton, reducing by -11.9% against the previous year. In general, the import price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 12% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :