Thailand: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Thailand

The Thai carbon dioxide market dropped modestly to $X in 2022, waning by -5% against the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.2% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Carbon Dioxide Production in Thailand

In value terms, carbon dioxide production fell slightly to $X in 2022 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.9% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 28%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Carbon Dioxide Exports

Exports from Thailand

In 2022, overseas shipments of carbon dioxide increased by 47% to X tons for the first time since 2015, thus ending a six-year declining trend. Over the period under review, exports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2014 when exports increased by 51% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, carbon dioxide exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2014 with an increase of 56%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cambodia (X tons), Lao People's Democratic Republic (X tons) and Singapore (X tons) were the main destinations of carbon dioxide exports from Thailand, with a combined 71% share of total exports. Malaysia, Taiwan (Chinese), New Zealand and Vietnam lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +20.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Lao People's Democratic Republic ($X) and Singapore ($X) were the largest markets for carbon dioxide exported from Thailand worldwide, together accounting for 80% of total exports. Malaysia, Taiwan (Chinese), Vietnam and New Zealand lagged somewhat behind, together accounting for a further 16%.

Taiwan (Chinese), with a CAGR of +17.1%, 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

The average carbon dioxide export price stood at $X per ton in 2022, with a decrease of -9.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 48%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Singapore ($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 Cambodia (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Thailand

In 2022, approx. X tons of carbon dioxide were imported into Thailand; with an increase of 289% compared with 2021. Overall, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carbon dioxide imports skyrocketed to $X in 2022. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of carbon dioxide to Thailand, accounting for a 80% share of total imports. Moreover, carbon dioxide imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +73.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.2% per year) and Taiwan (Chinese) (+64.0% per year).

In value terms, China ($X) constituted the largest supplier of carbon dioxide to Thailand, comprising 62% of total imports. The second position in the ranking was held by Austria ($X), with a 17% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +71.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+8.7% per year) and Germany (+11.3% per year).

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, declining by -13.5% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth appeared the most rapid in 2016 when the average import price increased by 73%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+19.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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