Thailand: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Thailand

In 2021, the Thai expansible polystyrene market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a perceptible downturn. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Expansible Polystyrene Production in Thailand

In value terms, expansible polystyrene production expanded slightly to $X in 2021 estimated in export price. Overall, production showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Expansible Polystyrene Exports

Exports from Thailand

Expansible polystyrene exports from Thailand fell markedly to X tons in 2021, waning by -46.4% on the previous year's figure. In general, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 168%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, expansible polystyrene exports contracted sharply to $X in 2021. Over the period under review, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 160%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for expansible polystyrene exports from Thailand, accounting for a 63% share of total exports. Moreover, expansible polystyrene exports to Vietnam exceeded the volume sent to the second major destination, the Philippines (X tons), fourfold. Indonesia (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam totaled +44.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+7.7% per year) and Indonesia (+59.3% per year).

In value terms, Vietnam ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Thailand, comprising 62% of total exports. The second position in the ranking was held by the Philippines ($X), with a 16% share of total exports. It was followed by Indonesia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam amounted to +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+5.7% per year) and Indonesia (+55.3% per year).

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, jumping by 45% against the previous year. In general, the export price, however, showed a slight decline. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and the Philippines ($X per ton), while the average price for exports to Indonesia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+13.4%), while the prices for the other major destinations experienced a decline.

Expansible Polystyrene Imports

Imports into Thailand

In 2021, purchases abroad of expansible polystyrene in primary forms was finally on the rise to reach X tons after two years of decline. In general, imports posted perceptible growth. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, expansible polystyrene imports surged to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of expansible polystyrene to Thailand, accounting for a 64% share of total imports. Moreover, expansible polystyrene imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Vietnam (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.6% per year) and Vietnam (-4.3% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of expansible polystyrene in primary forms to Thailand, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Vietnam, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.6% per year) and Vietnam (-6.6% per year).

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, with an increase of 20% against the previous year. Overall, the import price, however, saw a mild contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+13.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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