Thailand: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Thailand

The Thai bone glue and gelatin market declined to $X in 2022, falling by -5% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Bone Glues and Gelatin in Thailand

In value terms, bone glue and gelatin production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Bone glue and gelatin production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Bone Glues and Gelatin

Exports from Thailand

After two years of decline, shipments abroad of bone glues and gelatin increased by 0.6% to X tons in 2022. In general, exports recorded a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 46%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bone glue and gelatin exports amounted to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 51% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for bone glue and gelatin exports from Thailand, accounting for a 48% share of total exports. Moreover, bone glue and gelatin exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was held by India (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+25.1% per year) and India (+72.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for bone glues and gelatin exports from Thailand, comprising 54% of total exports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total exports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+27.4% per year) and India (+74.2% per year).

Export Prices by Country

The average bone glue and gelatin export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Somalia ($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 Myanmar (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports into Thailand

In 2022, bone glue and gelatin imports into Thailand declined modestly to X tons, with a decrease of -1.6% on the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 9.4%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bone glue and gelatin imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 9.9%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and France (X tons) were the main suppliers of bone glue and gelatin imports to Thailand, with a combined 78% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +290.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of bone glues and gelatin to Thailand, comprising 59% of total imports. The second position in the ranking was taken by Turkey ($X), with a 25% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+263.5% per year) and France (+57.6% per year).

Import Prices by Country

In 2022, the average bone glue and gelatin import price amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2013 an increase of 21%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($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 (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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