Thailand: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Thailand

The Thai o-acetylsalicylic acid market reduced modestly to $X in 2021, waning by -3.7% against the previous year. Over the period under review, consumption, however, showed a prominent expansion. O-acetylsalicylic acid consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

O-Acetylsalicylic Acid Production in Thailand

In value terms, o-acetylsalicylic acid production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 9.2% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

O-Acetylsalicylic Acid Exports

Exports from Thailand

In 2021, shipments abroad of o-acetylsalicylic acid, its salts and esters increased by 2.7% to X tons, rising for the fourth year in a row after five years of decline. Overall, exports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2018 when exports increased by 15%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, o-acetylsalicylic acid exports shrank slightly to $X in 2021. Over the period under review, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 19%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for o-acetylsalicylic acid exports from Thailand, with a 58% share of total exports. Moreover, o-acetylsalicylic acid exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), sixfold. Japan (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+0.7% per year) and Japan (-5.2% per year).

In value terms, the United States ($X) remains the key foreign market for o-acetylsalicylic acid, its salts and esters exports from Thailand, comprising 56% of total exports. The second position in the ranking was held by Brazil ($X), with a 10% share of total exports. It was followed by Japan, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+1.5% per year) and Japan (-6.9% per year).

Export Prices by Country

In 2021, the average o-acetylsalicylic acid export price amounted to $X per ton, declining by -5.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 18% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Australia ($X per ton), while the average price for exports to Indonesia ($X per ton) and Pakistan ($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 Vietnam (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports into Thailand

After three years of growth, supplies from abroad of o-acetylsalicylic acid, its salts and esters decreased by -29.4% to X tons in 2021. Overall, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 25% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, o-acetylsalicylic acid imports fell sharply to $X in 2021. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 21%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of o-acetylsalicylic acid to Thailand, accounting for a 89% share of total imports. Moreover, o-acetylsalicylic acid imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-23.4% per year) and India (-18.8% per year).

In value terms, China ($X) constituted the largest supplier of o-acetylsalicylic acid, its salts and esters to Thailand, comprising 84% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-23.1% per year) and India (-16.3% per year).

Import Prices by Country

In 2021, the average o-acetylsalicylic acid import price amounted to $X per ton, reducing by -18.2% against the previous year. Over the period under review, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2016 an increase of 9.1% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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