Thailand: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Thailand

For the third consecutive year, the Thai market for compounds with other nitrogen function (excluding isocyanates) recorded decline in sales value, which decreased by -9.3% to $X in 2022. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in Thailand

In value terms, compounds with other nitrogen function production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 74%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Thailand

In 2022, after two years of growth, there was decline in overseas shipments of compounds with other nitrogen function (excluding isocyanates), when their volume decreased by -4.2% to X tons. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 2,539% against the previous year. The exports peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, compounds with other nitrogen function exports skyrocketed to $X in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 4,855%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for compounds with other nitrogen function exports from Thailand, accounting for a 36% share of total exports. Moreover, compounds with other nitrogen function exports to Turkey exceeded the volume sent to the second major destination, Argentina (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+76.6% per year) and South Africa (+59.2% per year).

In value terms, Turkey ($X), Argentina ($X) and South Africa ($X) were the largest markets for compounds with other nitrogen function exported from Thailand worldwide, together comprising 67% of total exports. Brazil, Germany, Spain and Guinea lagged somewhat behind, together accounting for a further 26%.

Brazil, with a CAGR of +161,662,700.0%, recorded the highest rates of growth with regard to 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 2022, the average export price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, rising by 51% against the previous year. In general, the export price showed a tangible expansion. The most prominent rate of growth was recorded in 2017 an increase of 88% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Argentina ($X per ton) and South Africa ($X per ton), while the average price for exports to Guinea ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+261.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Thailand

Compounds with other nitrogen function imports into Thailand amounted to X tons in 2022, picking up by 2.5% on the previous year's figure. Overall, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, compounds with other nitrogen function imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 57%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest compounds with other nitrogen function supplier to Thailand, with a 81% share of total imports. Moreover, compounds with other nitrogen function imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was taken by Poland (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+113.0% per year) and Poland (+292.1% per year).

In value terms, China ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to Thailand, comprising 61% of total imports. The second position in the ranking was held by Germany ($X), with a 24% share of total imports. It was followed by Poland, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+103.3% per year) and Poland (+409.8% per year).

Import Prices by Country

The average import price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, with an increase of 44% against the previous year. Over the period under review, the import price, however, recorded a abrupt setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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