Thailand: Hydantoin Market 2024

Hydantoin Market Size in Thailand

The Thai hydantoin market expanded to $X in 2022, rising by 2.2% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Hydantoin Production in Thailand

In value terms, hydantoin production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 456%. Hydantoin production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Hydantoin Exports

Exports from Thailand

In 2022, approx. X tons of hydantoin and its derivatives were exported from Thailand; rising by 337% compared with 2021. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 823%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, hydantoin exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2016 when exports increased by 757% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for hydantoin exports from Thailand, with a 84% share of total exports. Moreover, hydantoin exports to Myanmar exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +71.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+4.6% per year) and Indonesia (-48.6% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for hydantoin and its derivatives exports from Thailand, comprising 67% of total exports. The second position in the ranking was held by Vietnam ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to +55.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+9.4% per year) and Indonesia (-58.6% per year).

Export Prices by Country

The average hydantoin export price stood at $X per ton in 2022, waning by -25.7% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of 136%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Indonesia ($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 Vietnam (+4.6%), while the prices for the other major destinations experienced a decline.

Hydantoin Imports

Imports into Thailand

In 2022, supplies from abroad of hydantoin and its derivatives was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, saw a pronounced descent. The pace of growth was the most pronounced in 2015 with an increase of 100%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, hydantoin imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2015 with an increase of 51% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Spain (X tons) and the United States (X tons) were the main suppliers of hydantoin imports to Thailand, together accounting for 85% of total imports. Italy, India, South Korea, Israel and France lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydantoin suppliers to Thailand were Spain ($X), China ($X) and the United States ($X), together accounting for 81% of total imports. Italy, India, South Korea, Israel and France lagged somewhat behind, together comprising a further 18%.

Italy, with a CAGR of +34.5%, saw the highest rates of growth with regard to 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 hydantoin import price amounted to $X per ton, increasing by 2.7% 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 +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydantoin import price increased by +90.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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