Thailand: Starch Glue Market 2024

Starch Glue Market Size in Thailand

The Thai starch glue market dropped notably to $X in 2021, with a decrease of -25.6% against the previous year. Over the period under review, consumption showed a noticeable decline. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Starch Glue Production in Thailand

In value terms, starch glue production dropped dramatically to $X in 2021 estimated in export price. Over the period under review, production showed a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 101%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Starch Glue Exports

Exports from Thailand

In 2021, shipments abroad of glues based on starches, dextrins or other modified starches increased by 64% to X tons, rising for the second year in a row after three years of decline. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +81.4% against 2019 indices. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, starch glue exports surged to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 562% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for starch glue exports from Thailand, with a 64% share of total exports. Moreover, starch glue exports to Japan exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fourfold. The third position in this ranking was taken by Vietnam (X tons), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +81.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+10.4% per year) and Vietnam (+9.6% per year).

In value terms, the largest markets for starch glue exported from Thailand were Japan ($X), Lao People's Democratic Republic ($X) and Pakistan ($X), with a combined 81% share of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +52.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average starch glue export price stood at $X per ton in 2021, which is down by -28.6% against the previous year. In general, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2014 when the average export price increased by 324%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Myanmar ($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 Cambodia (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Thailand

Starch glue imports into Thailand amounted to X tons in 2021, increasing by 14% against the previous year. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 58%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, starch glue imports surged to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 24% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of starch glue to Thailand, with a 66% share of total imports. Moreover, starch glue imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and Taiwan (Chinese) (-1.3% per year).

In value terms, the largest starch glue suppliers to Thailand were Japan ($X), South Korea ($X) and China ($X), together accounting for 66% of total imports.

Among the main suppliers, China, with a CAGR of +23.2%, 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

In 2021, the average starch glue import price amounted to $X per ton, with an increase of 8.1% against the previous year. Overall, the import price, however, showed a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 26%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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