Thailand: Plaster Article Market 2024

Plaster Article Market Size in Thailand

The Thai plaster article market expanded significantly to $X in 2021, growing by 6.4% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.1% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Plaster Article Production in Thailand

In value terms, plaster article production rose rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Plaster Article Exports

Exports from Thailand

In 2021, overseas shipments of articles of plaster or of compositions based on plaster decreased by -1.7% to X tons, falling for the third consecutive year after three years of growth. Overall, exports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2014 with an increase of 17%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, plaster article exports contracted modestly to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 19% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main destinations of plaster article exports from Thailand, together comprising 54% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +16.8%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for plaster article exports from Thailand, comprising 30% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total exports. It was followed by Malaysia, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia amounted to +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-0.8% per year) and Malaysia (+14.2% per year).

Export Prices by Country

The average plaster article export price stood at $X per ton in 2021, dropping by -2.6% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 8.4% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while the average price for exports to Singapore ($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 Indonesia (+54.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plaster Article Imports

Imports into Thailand

Plaster article imports into Thailand rose rapidly to X tons in 2021, increasing by 7.3% against the previous year's figure. Overall, imports showed prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 89% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, plaster article imports reached $X in 2021. Over the period under review, imports posted a strong increase. The growth pace was the most rapid in 2018 with an increase of 79% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plaster article to Thailand, accounting for a 74% share of total imports. Moreover, plaster article imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), eightfold. The third position in this ranking was held by Japan (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.7% per year) and Japan (+13.9% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) appeared to be the largest plaster article suppliers to Thailand, together accounting for 78% of total imports.

Taiwan (Chinese), with a CAGR of +17.4%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, the average plaster article import price amounted to $X per ton, growing by 5.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 51%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 Arab Emirates (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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