Thailand: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Thailand

In 2021, the Thai ketone and quinone market decreased by -15.8% to $X, falling for the third consecutive year after two years of growth. Overall, consumption continues to indicate a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Ketone And Quinone Production in Thailand

In value terms, ketone and quinone production reduced notably to $X in 2021 estimated in export price. Overall, production, however, recorded prominent growth. The growth pace was the most rapid in 2017 with an increase of 114%. Over the period under review, production attained the peak level at $X in 2020, and then declined markedly in the following year.

Ketone And Quinone Exports

Exports from Thailand

In 2021, the amount of ketones and quinones exported from Thailand reached X tons, therefore, remained relatively stable against 2020 figures. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 541% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, ketone and quinone exports rose remarkably to $X in 2021. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 168% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for ketone and quinone exports from Thailand, with a 66% share of total exports. Moreover, ketone and quinone exports to China exceeded the volume sent to the second major destination, India (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+23.1% per year) and the United States (+220.9% per year).

In value terms, China ($X) remains the key foreign market for ketones and quinones exports from Thailand, comprising 65% of total exports. The second position in the ranking was taken by India ($X), with a 16% share of total exports. It was followed by the United States, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+20.0% per year) and the United States (+190.7% per year).

Export Prices by Country

In 2021, the average ketone and quinone export price amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 310%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Belgium ($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 China (-2.4%), while the prices for the other major destinations experienced a decline.

Ketone And Quinone Imports

Imports into Thailand

In 2021, purchases abroad of ketones and quinones increased by 22% to X tons, rising for the second year in a row after three years of decline. In general, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, ketone and quinone imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of ketone and quinone imports to Thailand, with a combined 89% share of total imports. China and Italy lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +14.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), Japan ($X) and China ($X) were the largest ketone and quinone suppliers to Thailand, together accounting for 72% of total imports.

China, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average ketone and quinone import price amounted to $X per ton, surging by 16% 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 2017 when the average import price increased by 33% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+17.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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