Thailand: Imines Market 2024

Imines Market Size in Thailand

The Thai imines market was estimated at $X in 2021, increasing by 13% 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). Overall, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.0% against 2017 indices. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Imines Exports

Exports from Thailand

In 2021, exports of imines and their derivatives and salts thereof from Thailand soared to X tons, jumping by 135% compared with the previous year's figure. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 437%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, imines exports surged to $X in 2021. In general, exports continue to indicate a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for imines exports from Thailand, accounting for a 66% share of total exports. Moreover, imines exports to Spain exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by China (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.4% per year) and China (+47.9% per year).

In value terms, the largest markets for imines exported from Thailand were Spain ($X), India ($X) and China ($X), with a combined 88% share of total exports.

China, with a CAGR of +39.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average imines export price stood at $X per ton in 2021, which is down by -7.5% against the previous year. Overall, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 640%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Spain ($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 Vietnam (+19.8%), while the prices for the other major destinations experienced a decline.

Imines Imports

Imports into Thailand

In 2021, the amount of imines and their derivatives and salts thereof imported into Thailand rose sharply to X tons, growing by 11% against the year before. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.3% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 70%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, imines imports surged to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of imines to Thailand, with a 47% share of total imports. Moreover, imines imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.5% per year) and Brazil (+440.6% per year).

In value terms, the largest imines suppliers to Thailand were India ($X), Brazil ($X) and China ($X), with a combined 74% share of total imports.

Brazil, with a CAGR of +411.1%, 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 2021, the average imines import price amounted to $X per ton, increasing by 5.3% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2019 an increase of 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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