Thailand: Market for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium 2024

Market Size for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium in Thailand

The Thai magnesium hydroxide and peroxide market dropped to $X in 2022, waning by -6.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Magnesium hydroxide and peroxide consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Exports from Thailand

In 2022, the amount of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exported from Thailand soared to X tons, rising by 216% on the previous year's figure. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 1,491% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, magnesium hydroxide and peroxide exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 926%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Indonesia (X tons), Bangladesh (X tons) and Myanmar (X tons) were the main destinations of magnesium hydroxide and peroxide exports from Thailand, together accounting for 99% of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +59.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for magnesium hydroxide and peroxide exported from Thailand were Bangladesh ($X), Indonesia ($X) and Myanmar ($X), together accounting for 96% of total exports.

Myanmar, with a CAGR of +58.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average magnesium hydroxide and peroxide export price amounted to $X per ton, shrinking by -22.3% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Indonesia ($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 Myanmar (+8.1%), while the prices for the other major destinations experienced a decline.

Imports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Imports into Thailand

In 2022, approx. X tons of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium were imported into Thailand; declining by -6.8% compared with the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 37%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, magnesium hydroxide and peroxide imports shrank to $X in 2022. The total import value increased at an average annual rate of +2.1% 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 2016 when imports increased by 22%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of magnesium hydroxide and peroxide imports to Thailand, together accounting for 89% of total imports. India and Israel lagged somewhat behind, together accounting for a further 8.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +10.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium to Thailand, comprising 54% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by the United States, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.5% per year) and the United States (+4.0% per year).

Import Prices by Country

In 2022, the average magnesium hydroxide and peroxide import price amounted to $X per ton, surging by 5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 an increase of 27%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Israel ($X per ton), while the price for China ($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 (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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