Thailand: Melamine Resins Market 2024

Melamine Resins Market Size in Thailand

The Thai melamine resins market skyrocketed to $X in 2021, surging by 18% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Melamine Resins Production in Thailand

In value terms, melamine resins production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Melamine Resins Exports

Exports from Thailand

In 2021, overseas shipments of melamine resins in primary forms increased by 7% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a mild setback. The most prominent rate of growth was recorded in 2014 when exports increased by 14%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, melamine resins exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of melamine resins exports from Thailand, with a combined 51% share of total exports. Vietnam, Turkey, Japan, China, Ethiopia, South Korea, Bangladesh, the Philippines, the United States and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Ethiopia (with a CAGR of +170.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for melamine resins exported from Thailand were India ($X), Indonesia ($X) and Malaysia ($X), with a combined 48% share of total exports. These countries were followed by Japan, Vietnam, China, Turkey, the Philippines, Ethiopia, South Korea, Bangladesh, the United States and Taiwan (Chinese), which together accounted for a further 48%.

Among the main countries of destination, Ethiopia, with a CAGR of +279.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average melamine resins export price stood at $X per ton in 2021, surging by 23% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 40%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Bangladesh ($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 Ethiopia (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Melamine Resins Imports

Imports into Thailand

After two years of decline, purchases abroad of melamine resins in primary forms increased by 11% to X tons in 2021. Over the period under review, imports, however, showed a perceptible curtailment. The growth pace was the most rapid in 2016 with an increase of 26% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, melamine resins imports skyrocketed to $X in 2021. Overall, imports, however, saw a noticeable curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of melamine resins imports to Thailand, together accounting for 73% of total imports. The United States, Germany, Malaysia, India, Vietnam and Indonesia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +73.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of melamine resins in primary forms to Thailand, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.6% per year) and the United States (+8.6% per year).

Import Prices by Country

In 2021, the average melamine resins import price amounted to $X per ton, growing by 26% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 33%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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