Thailand: Monophenols Market 2024

Monophenols Market Size in Thailand

In 2021, the Thai monophenols market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Monophenols consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Monophenols Production in Thailand

In value terms, monophenols production totaled $X in 2021 estimated in export price. In general, production, however, showed a prominent increase. The growth pace was the most rapid in 2016 with an increase of 48%. Monophenols production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Monophenols Exports

Exports from Thailand

In 2021, exports of monophenols from Thailand contracted to X tons, which is down by -13.5% compared with 2020 figures. Over the period under review, exports, however, recorded resilient growth. The growth pace was the most rapid in 2016 when exports increased by 130% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, monophenols exports skyrocketed to $X in 2021. Overall, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2016 when exports increased by 124% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for monophenols exports from Thailand, accounting for a 52% share of total exports. Moreover, monophenols exports to China exceeded the volume sent to the second major destination, South Korea (X tons), threefold. India (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+545.7% per year) and India (+21.1% per year).

In value terms, China ($X) remains the key foreign market for monophenols exports from Thailand, comprising 50% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports. It was followed by India, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+480.8% per year) and India (+19.2% per year).

Export Prices by Country

In 2021, the average monophenols export price amounted to $X per ton, growing by 67% against the previous year. Overall, the export price, however, showed a perceptible downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to India ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.6%), while the prices for the other major destinations experienced a decline.

Monophenols Imports

Imports into Thailand

In 2021, the amount of monophenols imported into Thailand contracted to X tons, with a decrease of -3.7% compared with the year before. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 38%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, monophenols imports skyrocketed to $X in 2021. In general, imports faced a deep reduction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest monophenols supplier to Thailand, with a 78% share of total imports. Moreover, monophenols imports from Singapore exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.1% per year) and China (+37.3% per year).

In value terms, Singapore ($X) constituted the largest supplier of monophenols to Thailand, comprising 65% of total imports. The second position in the ranking was held by South Korea ($X), with a 15% share of total imports. It was followed by China, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore totaled +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-13.8% per year) and China (+30.0% per year).

Import Prices by Country

In 2021, the average monophenols import price amounted to $X per ton, growing by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 41%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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