Thailand: Ethylene-Vinyl Acetate Copolymers Market 2024

Ethylene-Vinyl Acetate Copolymers Market Size in Thailand

In 2022, the Thai ethylene-vinyl acetate copolymers market increased by 6.9% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene-Vinyl Acetate Copolymers Production in Thailand

In value terms, ethylene-vinyl acetate copolymers production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 22%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Ethylene-Vinyl Acetate Copolymers Exports

Exports from Thailand

In 2022, exports of ethylene-vinyl acetate copolymers in primary forms from Thailand stood at X tons, stabilizing at the year before. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 22%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, ethylene-vinyl acetate copolymers exports expanded notably to $X in 2022. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 66%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for ethylene-vinyl acetate copolymers exports from Thailand, with a 87% share of total exports. Moreover, ethylene-vinyl acetate copolymers exports to China exceeded the volume sent to the second major destination, India (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total exports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-9.1% per year) and Turkey (+63.8% per year).

In value terms, China ($X) remains the key foreign market for ethylene-vinyl acetate copolymers in primary forms exports from Thailand, comprising 87% of total exports. The second position in the ranking was taken by India ($X), with a 5.7% share of total exports. It was followed by Turkey, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-5.4% per year) and Turkey (+71.9% per year).

Export Prices by Country

The average ethylene-vinyl acetate copolymers export price stood at $X per ton in 2022, growing by 14% against the previous year. In general, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 84%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Bangladesh ($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 China (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene-Vinyl Acetate Copolymers Imports

Imports into Thailand

In 2022, the amount of ethylene-vinyl acetate copolymers in primary forms imported into Thailand amounted to X tons, with an increase of 8.8% compared with the previous year's figure. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 64% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, ethylene-vinyl acetate copolymers imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of ethylene-vinyl acetate copolymers imports to Thailand, together comprising 82% of total imports. China, Saudi Arabia, the United States, Belgium, Malaysia and Vietnam lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +208.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Japan ($X) constituted the largest ethylene-vinyl acetate copolymers suppliers to Thailand, with a combined 87% share of total imports. China, Saudi Arabia, the United States, Belgium, Malaysia and Vietnam lagged somewhat behind, together comprising a further 12%.

Saudi Arabia, with a CAGR of +191.3%, recorded the highest growth rate of 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

In 2022, the average ethylene-vinyl acetate copolymers import price amounted to $X per ton, rising by 17% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price 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, ethylene-vinyl acetate copolymers import price increased by +88.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 61% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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