Thailand: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Thailand

In 2022, the Thai azo- or azoxy-compounds market decreased by -21.4% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.7% against 2019 indices. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Azo- Or Azoxy-Compounds Exports

Exports from Thailand

In 2022, after two years of growth, there was decline in shipments abroad of diazo-, azo- or azoxy-compounds, when their volume decreased by -2.6% to X tons. Overall, exports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2016 when exports increased by 70% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, azo- or azoxy-compounds exports dropped to $X in 2022. Over the period under review, exports showed a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 26%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons), the Philippines (X tons) and Pakistan (X tons) were the main destinations of azo- or azoxy-compounds exports from Thailand, together comprising 71% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +147.4%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), the Philippines ($X) and Pakistan ($X) appeared to be the largest markets for azo- or azoxy-compounds exported from Thailand worldwide, together comprising 69% of total exports.

In terms of the main countries of destination, Pakistan, with a CAGR of +146.7%, saw the highest growth rate of 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

In 2022, the average azo- or azoxy-compounds export price amounted to $X per ton, falling by -8.1% against the previous year. Overall, the export price recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of 20% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 Peru ($X per ton), while the average price for exports to Brazil ($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 Sri Lanka (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Azo- Or Azoxy-Compounds Imports

Imports into Thailand

After two years of growth, purchases abroad of diazo-, azo- or azoxy-compounds decreased by -13.3% to X tons in 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.5% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 36%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, azo- or azoxy-compounds imports contracted sharply to $X in 2022. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 65%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of azo- or azoxy-compounds to Thailand, accounting for a 65% share of total imports. Moreover, azo- or azoxy-compounds imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+26.5% per year) and Indonesia (-0.4% per year).

In value terms, the largest azo- or azoxy-compounds suppliers to Thailand were India ($X), China ($X) and Japan ($X), with a combined 91% share of total imports.

India, with a CAGR of +31.7%, saw 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

The average azo- or azoxy-compounds import price stood at $X per ton in 2022, falling by -4.2% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, azo- or azoxy-compounds import price increased by +6.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 47% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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