Thailand: Endless Machinery Band Market 2024

Endless Machinery Band Market Size in Thailand

The Thai endless machinery band market surged to $X in 2021, rising by 93% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Endless Machinery Band Exports

Exports from Thailand

In 2021, overseas shipments of endless bands for machinery, of stainless steel increased by 12% to X square meters, rising for the second year in a row after three years of decline. In general, exports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 101%. Over the period under review, the exports attained the peak figure at X square meters in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, endless machinery band exports expanded to $X in 2021. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2020 with an increase of 85%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Lao People's Democratic Republic (X square meters) was the main destination for endless machinery band exports from Thailand, accounting for a 93% share of total exports. Moreover, endless machinery band exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Malaysia (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic amounted to +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+42.6% per year) and Vietnam (+25.5% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for endless machinery band exports from Thailand, comprising 94% of total exports. The second position in the ranking was held by Malaysia ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic amounted to +67.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+46.9% per year) and Vietnam (+11.0% per year).

Export Prices by Country

In 2021, the average endless machinery band export price amounted to $X per square meter, waning by -7.9% against the previous year. In general, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of 56% against the previous year. Over the period under review, the average export prices attained the maximum at $X per square meter in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Vietnam ($X per square meter), while the average price for exports to Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Endless Machinery Band Imports

Imports into Thailand

In 2021, endless machinery band imports into Thailand skyrocketed to X square meters, with an increase of 78% against the year before. Over the period under review, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, endless machinery band imports surged to $X in 2021. In general, imports, however, saw a noticeable shrinkage. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest endless machinery band supplier to Thailand, accounting for a 39% share of total imports. Moreover, endless machinery band imports from China exceeded the figures recorded by the second-largest supplier, the United States (X square meters), threefold. The third position in this ranking was taken by the Netherlands (X square meters), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+31.7% per year) and the Netherlands (+38.2% per year).

In value terms, the largest endless machinery band suppliers to Thailand were China ($X), the United States ($X) and Japan ($X), together accounting for 54% of total imports. These countries were followed by the Netherlands, Italy, the UK, Germany, Taiwan (Chinese) and South Korea, which together accounted for a further 36%.

In terms of the main suppliers, Italy, with a CAGR of +50.5%, 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 endless machinery band import price stood at $X per square meter in 2021, reducing by -12% against the previous year. Over the period under review, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 79%. Over the period under review, average import prices hit record highs at $X per square meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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