Thailand: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Thailand

In 2022, after two years of decline, there was significant growth in the Thai synthetic organic colouring matters market, when its value increased by 19% to $X. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Other Synthetic Organic Colouring Matters in Thailand

In value terms, synthetic organic colouring matters production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports from Thailand

In 2022, approx. X tons of other synthetic organic colouring matters were exported from Thailand; falling by -39.8% on the previous year. Overall, exports showed a pronounced setback. The pace of growth appeared the most rapid in 2021 when exports increased by 31% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, synthetic organic colouring matters exports dropped dramatically to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 45% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for synthetic organic colouring matters exports from Thailand, with a 22% share of total exports. Moreover, synthetic organic colouring matters exports to China exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was taken by India (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.6% per year) and India (+2.4% per year).

In value terms, China ($X) remains the key foreign market for other synthetic organic colouring matters exports from Thailand, comprising 33% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports. It was followed by India, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+2.7% per year) and India (+2.5% per year).

Export Prices by Country

The average synthetic organic colouring matters export price stood at $X per ton in 2022, surging by 36% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic organic colouring matters export price increased by +40.5% against 2020 indices. The growth pace was the most rapid in 2013 when the average export price increased by 37% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Brazil (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Thailand

After two years of growth, overseas purchases of other synthetic organic colouring matters decreased by -13.8% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, synthetic organic colouring matters imports declined to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Malaysia (X tons) were the main suppliers of synthetic organic colouring matters imports to Thailand, with a combined 81% share of total imports. Taiwan (Chinese), Japan, Pakistan, Singapore, Spain, South Korea and Germany lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +33.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic colouring matters suppliers to Thailand were China ($X), India ($X) and Japan ($X), together comprising 67% of total imports. Germany, Taiwan (Chinese), South Korea, Malaysia, Pakistan, Singapore and Spain lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Pakistan, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average synthetic organic colouring matters import price amounted to $X per ton, growing by 6.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2019 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($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 (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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