Thailand: Insulating Board Market 2024

Insulating Board Market Size in Thailand

The Thai insulating board market shrank to $X in 2022, waning by -7.8% against the previous year. In general, consumption, however, recorded a slight downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Insulating Board Production in Thailand

In value terms, insulating board production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild descent. The pace of growth was the most pronounced in 2019 when the production volume increased by 91% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Insulating Board Exports

Exports from Thailand

In 2022, exports of insulating board from Thailand skyrocketed to X cubic meters, with an increase of 25% compared with 2021. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 52%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, insulating board exports surged to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X cubic meters), Egypt (X cubic meters) and Lebanon (X cubic meters) were the main destinations of insulating board exports from Thailand, with a combined 72% share of total exports. Saudi Arabia, Malaysia, Jordan, the United States and Vietnam lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +43.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for insulating board exported from Thailand were the United Arab Emirates ($X), Egypt ($X) and Lebanon ($X), together accounting for 71% of total exports. Saudi Arabia, Malaysia, the United States, Jordan and Vietnam lagged somewhat behind, together comprising a further 24%.

The United States, with a CAGR of +34.8%, saw 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 more modest paces of growth.

Export Prices by Country

In 2022, the average insulating board export price amounted to $X per cubic meter, with an increase of 7% against the previous year. Overall, the export price, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Vietnam ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Syrian Arab Republic (+21.6%), while the prices for the other major destinations experienced a decline.

Insulating Board Imports

Imports into Thailand

In 2022, insulating board imports into Thailand shrank significantly to X cubic meters, reducing by -16.9% compared with the previous year's figure. Overall, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. As a result, imports attained the peak of X cubic meters. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, insulating board imports dropped to $X in 2022. In general, imports saw a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 21%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Poland (X cubic meters) constituted the largest insulating board supplier to Thailand, accounting for a 56% share of total imports. Moreover, insulating board imports from Poland exceeded the figures recorded by the second-largest supplier, India (X cubic meters), threefold. The third position in this ranking was taken by China (X cubic meters), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+32.3% per year) and China (-0.1% per year).

In value terms, Poland ($X) constituted the largest supplier of insulating board to Thailand, comprising 61% of total imports. The second position in the ranking was held by India ($X), with a 22% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Poland totaled +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+28.7% per year) and China (+1.1% per year).

Import Prices by Country

In 2022, the average insulating board import price amounted to $X per cubic meter, growing by 6.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7.2%. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Poland ($X per cubic meter) and India ($X per cubic meter), while the price for China ($X per cubic meter) and Estonia ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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