Thailand: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Thailand

The Thai market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels declined to $X in 2021, waning by -13.2% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Thailand

In value terms, grease fittings and oil seals production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 38%. As a result, production attained the peak level of $X, and then contracted in the following year.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Thailand

In 2021, the amount of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels exported from Thailand surged to X units, jumping by 19% against 2020 figures. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 30% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, grease fittings and oil seals exports soared to $X in 2021. Overall, exports, however, continue to indicate a mild descent. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X units), the United States (X units) and China (X units) were the main destinations of grease fittings and oil seals exports from Thailand, with a combined 55% share of total exports. These countries were followed by Indonesia, Argentina, the Philippines, Singapore, Brazil, India, Vietnam, Malaysia, Egypt and Italy, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +50.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) were the largest markets for grease fittings and oil seals exported from Thailand worldwide, together accounting for 49% of total exports. These countries were followed by Singapore, Indonesia, the Philippines, India, Vietnam, Argentina, Malaysia, Brazil, Italy and Egypt, which together accounted for a further 40%.

Italy, with a CAGR of +39.8%, saw the highest growth rate of the value of exports, among 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

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, surging by 4.5% against the previous year. In general, the export price, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of 24%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+0.8%), while the prices for the other major destinations experienced a decline.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Thailand

In 2021, supplies from abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels increased by 68% to X units, rising for the second consecutive year after six years of decline. Overall, imports, however, recorded a pronounced reduction. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, grease fittings and oil seals imports shrank to $X in 2021. In general, imports, however, faced a drastic downturn. The smallest decline of -0.1% was in 2020. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest grease fittings and oil seals supplier to Thailand, accounting for a 59% share of total imports. Moreover, grease fittings and oil seals imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. Singapore (X units) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.2% per year) and Singapore (+3.6% per year).

In value terms, Japan ($X) constituted the largest supplier of grease fittings and oil seals to Thailand, comprising 57% of total imports. The second position in the ranking was taken by Singapore ($X), with a 7.5% share of total imports. It was followed by China, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to -18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-11.0% per year) and China (-14.5% per year).

Import Prices by Country

The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, waning by -45.4% against the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of 21% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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