Thailand: Candles And Tapers Market 2024

Candles And Tapers Market Size in Thailand

The Thai candles and tapers market declined to $X in 2021, waning by -1.6% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.1% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Candles And Tapers Production in Thailand

In value terms, candles and tapers production totaled $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 -11.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Candles And Tapers Exports

Exports from Thailand

In 2021, candles and tapers exports from Thailand skyrocketed to X tons, with an increase of 45% compared with the year before. Overall, total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +102.0% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers exports soared to $X in 2021. In general, exports recorded a moderate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for candles and tapers exports from Thailand, with a 85% share of total exports. Moreover, candles and tapers exports to the United States exceeded the volume sent to the second major destination, Cambodia (X tons), more than tenfold. The third position in this ranking was held by Lao People's Democratic Republic (X tons), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+22.4% per year) and Lao People's Democratic Republic (+18.6% per year).

In value terms, the United States ($X) remains the key foreign market for candles and tapers exports from Thailand, comprising 86% of total exports. The second position in the ranking was held by Cambodia ($X), with a 1.8% share of total exports. It was followed by Lao People's Democratic Republic, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+13.4% per year) and Lao People's Democratic Republic (+11.0% per year).

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 16%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Cambodia ($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 Denmark (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into Thailand

In 2021, candles and tapers imports into Thailand amounted to X tons, with an increase of 14% on the previous year's figure. Overall, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2014 when imports increased by 90%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, candles and tapers imports surged to $X in 2021. In general, imports enjoyed a strong expansion. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of candles and tapers to Thailand, accounting for a 70% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Canada (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+39.7% per year) and Canada (+117.7% per year).

In value terms, China ($X), the United States ($X) and Canada ($X) constituted the largest candles and tapers suppliers to Thailand, together comprising 76% of total imports.

Canada, with a CAGR of +89.1%, recorded the highest rates of growth with regard to 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 2021, the average candles and tapers import price amounted to $X per ton, picking up by 55% against the previous year. Over the period under review, the import price recorded a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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