Report Update Nov 1, 2024

Thailand - Benzoic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Benzoic Acid Market 2024

Benzoic Acid Market Size in Thailand

The Thai benzoic acid market skyrocketed to $X in 2021, picking up by 20% 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 +2.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Benzoic Acid Exports

Exports from Thailand

In 2021, overseas shipments of benzoic acid, its salts and esters decreased by -18.9% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 138%. The exports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, benzoic acid exports reduced to $X in 2021. Over the period under review, exports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 79% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then reduced in the following year.

Exports by Country

Cambodia (X tons), Myanmar (X tons) and China (X tons) were the main destinations of benzoic acid exports from Thailand, together comprising 93% 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 +63.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for benzoic acid exported from Thailand were Cambodia ($X), Myanmar ($X) and China ($X), with a combined 93% share of total exports.

Cambodia, with a CAGR of +68.5%, saw the highest growth rate of 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

In 2021, the average benzoic acid export price amounted to $X per ton, surging by 5.6% against the previous year. In general, the export price, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($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 Myanmar (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Benzoic Acid Imports

Imports into Thailand

In 2021, imports of benzoic acid, its salts and esters into Thailand rose sharply to X tons, increasing by 14% on the previous year. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzoic acid imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the Netherlands (X tons) and Estonia (X tons) were the main suppliers of benzoic acid imports to Thailand, together accounting for 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of +4.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest benzoic acid suppliers to Thailand were the Netherlands ($X), China ($X) and the United States ($X), with a combined 87% share of total imports. Estonia lagged somewhat behind, accounting for a further 7.4%.

In terms of the main suppliers, Estonia, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2021, growing by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 7.7%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzoic acid, its salts and esters in the world?

The countries with the highest volumes of benzoic acid consumption in 2021 were China, the United States and India, together accounting for 48% of global consumption. These countries were followed by Japan, Germany, Indonesia, Mexico, Turkey, South Korea, Canada, Brazil, Saudi Arabia and Thailand, which together accounted for a further 29%.

What are the largest producers of benzoic acid, its salts and esters in the world?

The country with the largest volume of benzoic acid production was China, accounting for 34% of total volume. Moreover, benzoic acid production in China exceeded the figures recorded by the second-largest producer, the Netherlands, threefold. The third position in this ranking was occupied by the United States, with a 12% share.

What are the leading suppliers of benzoic acid, its salts and esters to Thailand?

In value terms, the largest benzoic acid suppliers to Thailand were the Netherlands, China and the United States, with a combined 87% share of total imports. Estonia lagged somewhat behind, accounting for a further 7.4%.

What are the leading importers of benzoic acid, its salts and esters from Thailand?

In value terms, Cambodia remains the key foreign market for benzoic acid exports from Thailand, comprising 82% of total exports. The second position in the ranking was occupied by China, with an 8.3% share of total exports. It was followed by Indonesia, with a 2.8% share.

What is the average export price for benzoic acid, its salts and esters in Thailand?

The average benzoic acid export price stood at $3,272 per ton in 2021, with an increase of 11% against the previous year.

What is the average import price for benzoic acid, its salts and esters in Thailand?

The average benzoic acid import price stood at $2,098 per ton in 2021, surging by 6.2% against the previous year.

This report provides an in-depth analysis of the benzoic acid market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143363 - Benzoic acid, its salts and esters

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023