Thailand: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Thailand

The Thai odoriferous substance mixture market declined modestly to $X in 2022, shrinking by -1.7% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Odoriferous Substance Mixture Production in Thailand

In value terms, odoriferous substance mixture production rose notably to $X in 2022 estimated in export price. In general, production recorded resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 59%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from Thailand

In 2022, exports of mixtures of odoriferous substances and their preparations from Thailand soared to X tons, rising by 35% against the previous year's figure. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2021 when exports increased by 43%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, odoriferous substance mixture exports skyrocketed to $X in 2022. Overall, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X tons), China (X tons) and Switzerland (X tons) were the main destinations of odoriferous substance mixture exports from Thailand, with a combined 55% share of total exports. The United States, Malaysia, Cambodia, Vietnam, Myanmar, Indonesia and Singapore lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +63.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), China ($X) and Switzerland ($X) were the largest markets for odoriferous substance mixture exported from Thailand worldwide, together comprising 66% of total exports. The United States, Cambodia, Vietnam, Indonesia, Malaysia, Myanmar and Singapore lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, the United States, with a CAGR of +63.8%, 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 odoriferous substance mixture export price stood at $X per ton in 2022, rising by 8.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.4%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Thailand

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported into Thailand; rising by 6.5% compared with 2021. The total import volume increased at an average annual rate of +3.8% over the period 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 imports increased by 17% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, odoriferous substance mixture imports totaled $X in 2022. The total import value increased at an average annual rate of +4.3% 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 2020 with an increase of 16%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Singapore (X tons) constituted the largest odoriferous substance mixture supplier to Thailand, with a 57% share of total imports. Moreover, odoriferous substance mixture imports from Singapore exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was taken by the UK (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+14.9% per year) and the UK (+2.1% per year).

In value terms, Singapore ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Thailand, comprising 59% of total imports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total imports. It was followed by the United States, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from Singapore totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+18.2% per year) and the United States (-1.7% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, falling by -4.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 9.1% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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