Thailand: Flat Glass Market 2024

Flat Glass Market Size in Thailand

In 2021, after four years of growth, there was significant decline in the Thai flat glass market, when its value decreased by -6.8% to $X. In general, consumption showed a pronounced decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Flat Glass Production in Thailand

In value terms, flat glass production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a slight contraction. The pace of growth appeared the most rapid in 2014 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Flat Glass Exports

Exports from Thailand

In 2021, flat glass exports from Thailand expanded rapidly to X tons, surging by 9.9% against the year before. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +82.9% against 2016 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 26%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, flat glass exports expanded remarkably to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 29%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), South Korea (X tons) and Cambodia (X tons) were the main destinations of flat glass exports from Thailand, together accounting for 49% of total exports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +109.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for flat glass exports from Thailand, comprising 42% of total exports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total exports. It was followed by Taiwan (Chinese), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+18.2% per year) and Taiwan (Chinese) (-12.7% per year).

Export Prices by Country

The average flat glass export price stood at $X per ton in 2021, with an increase of 4.1% against the previous year. Overall, the export price, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by 21%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Yemen ($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 Malaysia (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Flat Glass Imports

Imports into Thailand

In 2021, overseas purchases of flat glass decreased by -17.8% to X tons, falling for the third year in a row after four years of growth. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, flat glass imports expanded remarkably to $X in 2021. Overall, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 53% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Indonesia (X tons) and France (X tons) were the main suppliers of flat glass imports to Thailand, together comprising 81% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +16.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of flat glass to Thailand, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.7% per year) and France (+16.1% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, picking up by 33% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when the average import price increased by 57%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+92.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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