Thailand: Ethanal Market 2024

Ethanal Market Size in Thailand

The Thai ethanal market stood at $X in 2022, almost unchanged from the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Ethanal consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ethanal Production in Thailand

In value terms, ethanal production amounted to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ethanal Exports

Exports from Thailand

In 2022, overseas shipments of ethanal (acetaldehyde) decreased by -27.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports saw a slight decline. The pace of growth appeared the most rapid in 2017 when exports increased by 111% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethanal exports declined rapidly to $X in 2022. Over the period under review, exports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2016 when exports increased by 204%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons) was the main destination for ethanal exports from Thailand, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia amounted to +19.4%.

In value terms, Cambodia ($X) also remains the key foreign market for ethanal (acetaldehyde) exports from Thailand.

From 2012 to 2022, the average annual growth rate of value to Cambodia stood at +24.3%.

Export Prices by Country

In 2022, the average ethanal export price amounted to $X per ton, with a decrease of -4% against the previous year. Over the period under review, the export price, however, continues to indicate a notable increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 53% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cambodia.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +6.7% per year.

Ethanal Imports

Imports into Thailand

In 2022, supplies from abroad of ethanal (acetaldehyde) increased by 97% to X kg, rising for the third year in a row after two years of decline. Over the period under review, imports saw pronounced growth. The most prominent rate of growth was recorded in 2015 when imports increased by 471% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, ethanal imports soared to $X in 2022. Overall, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 477% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The UK (X kg), France (X kg) and the United States (X kg) were the main suppliers of ethanal imports to Thailand, together comprising 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +6,366.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of ethanal (acetaldehyde) to Thailand, comprising 52% of total imports. The second position in the ranking was held by France ($X), with a 24% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+10,508.3% per year) and the United States (-0.9% per year).

Import Prices by Country

The average ethanal import price stood at $X per ton in 2022, shrinking by -36.5% against the previous year. Overall, the import price, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2019 an increase of 291%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+64.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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