Thailand: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in Thailand

The Thai double or complex silicates market surged to $X in 2021, increasing by 30% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Double or complex silicates consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Double Or Complex Silicates in Thailand

In value terms, double or complex silicates production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Double or complex silicates production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Double Or Complex Silicates

Exports from Thailand

In 2021, overseas shipments of double or complex silicates increased by 16% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when exports increased by 20% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, double or complex silicates exports skyrocketed to $X in 2021. In general, exports, however, saw a perceptible decline. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of double or complex silicates exports from Thailand, together comprising 84% of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +26.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for double or complex silicates exported from Thailand were China ($X), Japan ($X) and Indonesia ($X), together comprising 83% of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average double or complex silicates export price stood at $X per ton in 2021, growing by 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2019 when the average export price increased by 16%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 China (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Double Or Complex Silicates

Imports into Thailand

In 2021, supplies from abroad of double or complex silicates increased by 96% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, imports, however, saw a noticeable reduction. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, double or complex silicates imports skyrocketed to $X in 2021. Overall, imports showed a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 96%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest double or complex silicates supplier to Thailand, accounting for a 70% share of total imports. Moreover, double or complex silicates imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. The third position in this ranking was held by the United States (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+16.6% per year) and the United States (+39.5% per year).

In value terms, China ($X) constituted the largest supplier of double or complex silicates to Thailand, comprising 37% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+42.0% per year) and France (+0.4% per year).

Import Prices by Country

In 2021, the average double or complex silicates import price amounted to $X per ton, waning by -17% against the previous year. In general, the import price, however, showed strong growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 309%. The import price peaked at $X per ton in 2014; however, from 2015 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 Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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