Thailand: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Thailand

The Thai conveyor or transmission belt market amounted to $X in 2021, growing by 15% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Thailand

In value terms, conveyor or transmission belt production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 39% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Thailand

In 2021, shipments abroad of conveyor or transmission belts or belting increased by 13% to X tons, rising for the second year in a row after two years of decline. Overall, total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +2.3% 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 +26.1% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 45% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, conveyor or transmission belt exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Australia (X tons) and the United States (X tons) were the main destinations of conveyor or transmission belt exports from Thailand, with a combined 33% share of total exports. Singapore, Japan, Vietnam, Myanmar, Indonesia, India, Peru, Turkey, the United Arab Emirates and the Philippines lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +35.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Singapore ($X) constituted the largest markets for conveyor or transmission belt exported from Thailand worldwide, together comprising 31% of total exports. These countries were followed by Australia, Japan, Vietnam, Indonesia, the Philippines, the United Arab Emirates, India, Turkey, Peru and Myanmar, which together accounted for a further 40%.

Among the main countries of destination, Peru, with a CAGR of +31.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, surging by 10% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Myanmar ($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 (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Thailand

For the third year in a row, Thailand recorded growth in supplies from abroad of conveyor or transmission belts or belting, which increased by 12% to X tons in 2021. In general, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.1% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 56% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, conveyor or transmission belt imports expanded modestly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest conveyor or transmission belt supplier to Thailand, with a 56% share of total imports. Moreover, conveyor or transmission belt imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.8% per year) and Germany (+6.1% per year).

In value terms, China ($X), Japan ($X) and Germany ($X) constituted the largest conveyor or transmission belt suppliers to Thailand, with a combined 59% share of total imports. Poland, Indonesia, the United States, India, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 26%.

In terms of the main suppliers, India, with a CAGR of +20.6%, recorded the highest rates of growth with regard to 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 conveyor or transmission belt import price stood at $X per ton in 2021, which is down by -7.8% against the previous year. In general, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 South Korea ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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