Thailand: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Thailand

The Thai sodium phosphates market contracted significantly to $X in 2021, waning by -39.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded strong growth. Over the period under review, the market attained the maximum level at $X in 2020, and then fell rapidly in the following year.

Sodium Phosphates Exports

Exports from Thailand

Sodium phosphates exports from Thailand expanded remarkably to X tons in 2021, picking up by 11% compared with 2020. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 59%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, sodium phosphates exports skyrocketed to $X in 2021. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 447% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), the Philippines (X tons) and Pakistan (X tons) were the main destinations of sodium phosphates exports from Thailand, with a combined 49% share of total exports. These countries were followed by the United States, Indonesia, Australia, Japan, Italy, India, Mexico, Spain, Vietnam and Ghana, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +158.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Philippines ($X) and Pakistan ($X) constituted the largest markets for sodium phosphates exported from Thailand worldwide, together accounting for 46% of total exports. Indonesia, the United States, Australia, Japan, India, Mexico, Ghana, Spain, Vietnam and Italy lagged somewhat behind, together comprising a further 44%.

Mexico, with a CAGR of +165.4%, recorded 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

The average sodium phosphates export price stood at $X per ton in 2021, increasing by 14% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 475% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Phosphates Imports

Imports into Thailand

In 2021, approx. X tons of phosphates of mono- or di-sodium were imported into Thailand; with a decrease of -25% on the previous year. In general, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 59%. Imports peaked at X tons in 2020, and then dropped remarkably in the following year.

In value terms, sodium phosphates imports rose slightly to $X in 2021. Overall, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 59%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of sodium phosphates to Thailand, with a 97% share of total imports. It was followed by Germany (X tons), with a 2.5% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.2%.

In value terms, China ($X) constituted the largest supplier of phosphates of mono- or di-sodium to Thailand, comprising 89% of total imports. The second position in the ranking was held by Germany ($X), with an 8.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +13.0%.

Import Prices by Country

In 2021, the average sodium phosphates import price amounted to $X per ton, jumping by 37% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 41%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.7%).

Source: IndexBox Platform

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