Thailand: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Thailand

The Thai aromatic alcohols market expanded sharply to $X in 2021, rising by 8.5% 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). The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Aromatic Alcohols Exports

Exports from Thailand

In 2021, approx. X tons of aromatic alcohols and their derivatives were exported from Thailand; which is down by -59.4% on the year before. Overall, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 360%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, aromatic alcohols exports contracted sharply to $X in 2021. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when exports increased by 139% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for aromatic alcohols exports from Thailand, accounting for a 73% share of total exports. Moreover, aromatic alcohols exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. Japan (X kg) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-2.6% per year) and Japan (+39.5% per year).

In value terms, the United States ($X) remains the key foreign market for aromatic alcohols and their derivatives exports from Thailand, comprising 79% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 10% share of total exports. It was followed by Japan, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+4.4% per year) and Japan (+103.2% per year).

Export Prices by Country

In 2021, the average aromatic alcohols export price amounted to $X per ton, surging by 81% against the previous year. In general, the export price showed a remarkable increase. The growth pace was the most rapid in 2020 an increase of 107% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($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 Japan (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports into Thailand

In 2021, the amount of aromatic alcohols and their derivatives imported into Thailand rose markedly to X tons, picking up by 5.9% on 2020 figures. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 30%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, aromatic alcohols imports rose remarkably to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 32%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and the United States (X tons) were the main suppliers of aromatic alcohols imports to Thailand, with a combined 93% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic alcohols suppliers to Thailand were China ($X), India ($X) and the United States ($X), together comprising 85% of total imports.

The United States, with a CAGR of +16.1%, saw 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

The average aromatic alcohols import price stood at $X per ton in 2021, rising by 2.7% against the previous year. In general, the import price, however, recorded a slight reduction. The growth pace was the most rapid in 2016 an increase of 22%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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