Thailand: Machinery For Packing Market 2024

Machinery For Packing Market Size in Thailand

In 2022, the Thai machinery for packing market decreased by -26.7% to $X, falling for the second consecutive year after two years of growth. In general, consumption continues to indicate a deep setback. Machinery for packing consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Machinery For Packing Exports

Exports from Thailand

In 2022, overseas shipments of machinery for packing or wrapping increased by 17% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports saw a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 53% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, machinery for packing exports reached $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 30%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units), Belgium (X units) and the United States (X units) were the main destinations of machinery for packing exports from Thailand, together comprising 69% of total exports. Italy, the UK, China, Turkey, Australia, Vietnam and India lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +35.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machinery for packing exported from Thailand were the United States ($X), Japan ($X) and Belgium ($X), together accounting for 41% of total exports. Australia, Vietnam, Italy, India, the UK, China and Turkey lagged somewhat behind, together comprising a further 33%.

Italy, with a CAGR of +23.9%, saw the highest rates of growth with regard to 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 machinery for packing export price amounted to $X per unit, which is down by -12.5% against the previous year. Over the period under review, the export price saw a abrupt descent. The growth pace was the most rapid in 2019 when the average export price increased by 39% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Australia ($X per unit), while the average price for exports to China ($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 Australia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Thailand

After three years of growth, overseas purchases of machinery for packing or wrapping decreased by -27.1% to X units in 2022. In general, imports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 48%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, machinery for packing imports dropped to $X in 2022. Overall, imports saw a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of 20%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machinery for packing to Thailand, with a 73% share of total imports. Moreover, machinery for packing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-14.1% per year) and Taiwan (Chinese) (-5.7% per year).

In value terms, the largest machinery for packing suppliers to Thailand were China ($X), Germany ($X) and Japan ($X), with a combined 63% share of total imports. Taiwan (Chinese), Italy, the Netherlands, Hong Kong SAR and Sweden lagged somewhat behind, together accounting for a further 21%.

Sweden, with a CAGR of +41.2%, 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 2022, the average machinery for packing import price amounted to $X per unit, rising by 23% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. Over the period under review, average import prices reached the peak figure 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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