Thailand: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Thailand

The Thai pharmaceutical rubber articles market expanded significantly to $X in 2021, picking up by 6.9% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Pharmaceutical Rubber Articles Production in Thailand

In value terms, pharmaceutical rubber articles production expanded remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 19% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Pharmaceutical Rubber Articles Exports

Exports from Thailand

After two years of decline, shipments abroad of hygienic or pharmaceutical articles of rubber increased by 55% to X units in 2021. Over the period under review, exports, however, saw a abrupt contraction. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports soared to $X in 2021. Overall, exports, however, saw a mild downturn. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for pharmaceutical rubber articles exports from Thailand, with a 54% share of total exports. Moreover, pharmaceutical rubber articles exports to the United Arab Emirates exceeded the volume sent to the second major destination, Vietnam (X units), fivefold. The third position in this ranking was taken by China (X units), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.6% per year) and China (+32.8% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Thailand, comprising 69% of total exports. The second position in the ranking was taken by China ($X), with a 6.6% share of total exports. It was followed by Vietnam, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+25.7% per year) and Vietnam (-3.1% per year).

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, falling by -1.6% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pharmaceutical rubber articles export price decreased by -22.1% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 37%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into Thailand

In 2021, approx. X units of hygienic or pharmaceutical articles of rubber were imported into Thailand; picking up by 72% on the previous year's figure. In general, imports, however, showed a perceptible reduction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports soared to $X in 2021. Overall, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest pharmaceutical rubber articles supplier to Thailand, with a 51% share of total imports. Moreover, pharmaceutical rubber articles imports from China exceeded the figures recorded by the second-largest supplier, Ireland (X units), fourfold. The third position in this ranking was held by Malaysia (X units), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+397.8% per year) and Malaysia (+5.6% per year).

In value terms, the largest pharmaceutical rubber articles suppliers to Thailand were Germany ($X), Ireland ($X) and Belgium ($X), with a combined 81% share of total imports.

Among the main suppliers, Ireland, with a CAGR of +574.5%, saw the highest growth rate of 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

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, picking up by 313% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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