Thailand: Market for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds 2024

Market Size for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds in Thailand

In 2022, after two years of growth, there was significant decline in the Thai market for organo-sulphur compounds and other organo-inorganic compounds, when its value decreased by -12.4% to $X. In general, consumption, however, recorded a relatively flat trend pattern. Consumption of peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds in Thailand

In value terms, production of organo-sulphur compounds and other organo-inorganic compounds rose slightly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.0% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 85% against the previous year. Over the period under review, production of attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Exports from Thailand

In 2022, overseas shipments of organo-sulphur compounds and other organo-inorganic compounds decreased by -12.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 136%. Over the period under review, the exports of hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, exports of organo-sulphur compounds and other organo-inorganic compounds amounted to $X in 2022. In general, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 120% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for exports of organo-sulphur compounds and other organo-inorganic compounds from Thailand, accounting for a 50% share of total exports. Moreover, exports of organo-sulphur compounds and other organo-inorganic compounds to the United States exceeded the volume sent to the second major destination, China (X tons), fourfold. India (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+16.2% per year) and India (+20.6% per year).

In value terms, the largest markets for organo-sulphur compounds and other organo-inorganic compounds exported from Thailand were the United States ($X), China ($X) and India ($X), together accounting for 64% of total exports. Japan, the Netherlands, Malaysia, the Philippines, Indonesia, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 24%.

The Netherlands, with a CAGR of +86.7%, saw the highest rates of growth with regard to 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

In 2022, the average export price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, with an increase of 18% against the previous year. In general, the export price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to the United States ($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 China (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Imports into Thailand

In 2022, after two years of growth, there was decline in purchases abroad of organo-sulphur compounds and other organo-inorganic compounds, when their volume decreased by -1.3% to X tons. The total import volume increased at an average annual rate of +2.8% 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 when imports increased by 37% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, imports of organo-sulphur compounds and other organo-inorganic compounds skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 28%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of organo-sulphur compounds and other organo-inorganic compounds to Thailand, with a 47% share of total imports. Moreover, imports of organo-sulphur compounds and other organo-inorganic compounds from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.0% per year) and Singapore (+32.6% per year).

In value terms, China ($X) constituted the largest supplier of organo-sulphur compounds and other organo-inorganic compounds to Thailand, comprising 47% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by Singapore, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.5% per year) and Singapore (+32.1% per year).

Import Prices by Country

In 2022, the average import price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, jumping by 23% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 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 Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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