Thailand: Market for Lauric Acid And Other Acids, Their Salts And Esters 2025

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Thailand

The Thai market for lauric acid and other acids, their salts and esters soared to $X in 2021, picking up by 44% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Thailand

In value terms, production of lauric acid and other acids, their salts and esters surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 43%. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth failed to regain momentum.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Thailand

In 2021, approx. X tons of lauric acid and other acids, their salts and esters were exported from Thailand; rising by 32% against the previous year's figure. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 446%. Over the period under review, the exports of attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 321% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Thailand, accounting for a 41% share of total exports. Moreover, exports of lauric acid and other acids, their salts and esters to Vietnam exceeded the volume sent to the second major destination, Australia (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+54.7% per year) and Indonesia (+10.3% per year).

In value terms, Vietnam ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Thailand, comprising 38% of total exports. The second position in the ranking was held by Australia ($X), with a 15% share of total exports. It was followed by Indonesia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+40.6% per year) and Indonesia (+2.1% per year).

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, which is down by -13.1% against the previous year. Over the period under review, the export price continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2019 an increase of 51%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Australia ($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 Malaysia (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Thailand

In 2021, supplies from abroad of lauric acid and other acids, their salts and esters increased by 24% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.5% 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 +83.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 49% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. In general, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Japan (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to Thailand, together comprising 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +17.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Japan ($X) were the largest lauric acid and other acids, their salts and esters suppliers to Thailand, together comprising 72% of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +13.8%, 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

In 2021, the average import price for lauric acid and other acids, their salts and esters amounted to $X per ton, surging by 37% against the previous year. Overall, the import price, however, continues to indicate a slight setback. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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