Thailand: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in Thailand

In 2022, the Thai sugar-manufacturing industrial machinery market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. Sugar-manufacturing industrial machinery consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Sugar-Manufacturing Industrial Machinery Production in Thailand

In value terms, sugar-manufacturing industrial machinery production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 0.8%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Sugar-Manufacturing Industrial Machinery Exports

Exports from Thailand

In 2022, exports of industrial machinery for the manufacture or preparation of sugar from Thailand dropped dramatically to X units, waning by -98% on the year before. In general, exports faced a dramatic slump. The pace of growth was the most pronounced in 2014 with an increase of 1,528%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sugar-manufacturing industrial machinery exports fell dramatically to $X in 2022. Overall, exports showed a sharp decline. The growth pace was the most rapid in 2014 when exports increased by 1,487% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bangladesh (X units) was the main destination for sugar-manufacturing industrial machinery exports from Thailand, accounting for a 50% share of total exports. Moreover, sugar-manufacturing industrial machinery exports to Bangladesh exceeded the volume sent to the second major destination, Cambodia (X units), twofold. The third position in this ranking was held by Indonesia (X units), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-5.2% per year) and Indonesia (-40.7% per year).

In value terms, Bangladesh ($X) emerged as the key foreign market for industrial machinery for the manufacture or preparation of sugar exports from Thailand, comprising 68% of total exports. The second position in the ranking was held by Indonesia ($X), with a 13% share of total exports. It was followed by Cambodia, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bangladesh amounted to +253.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-34.6% per year) and Cambodia (-2.7% per year).

Export Prices by Country

The average sugar-manufacturing industrial machinery export price stood at $X per unit in 2022, increasing by 2,228% against the previous year. Overall, the export price continues to indicate a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+33.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar-Manufacturing Industrial Machinery Imports

Imports into Thailand

In 2022, the amount of industrial machinery for the manufacture or preparation of sugar imported into Thailand declined sharply to X units, waning by -86.9% against 2021. Over the period under review, imports saw a dramatic decline. The pace of growth appeared the most rapid in 2015 with an increase of 1,063%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar-manufacturing industrial machinery imports dropped sharply to $X in 2022. Overall, imports recorded a sharp decline. The growth pace was the most rapid in 2015 with an increase of 366% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), India (X units) and Australia (X units) were the main suppliers of sugar-manufacturing industrial machinery imports to Thailand, with a combined 99% share of total imports.

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 -8.9%), while imports for the other leaders experienced a decline.

In value terms, the largest sugar-manufacturing industrial machinery suppliers to Thailand were India ($X), China ($X) and Australia ($X), with a combined 100% share of total imports.

India, with a CAGR of -6.9%, 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 a decline.

Import Prices by Country

In 2022, the average sugar-manufacturing industrial machinery import price amounted to $X per unit, shrinking by -19.7% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 91% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 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 Australia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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