Thailand: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in Thailand

In 2021, the Thai metal pickling preparations market decreased by -11.5% to $X for the first time since 2018, thus ending a two-year rising trend. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +14.7% against 2017 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Metal Pickling Preparations Production in Thailand

In value terms, metal pickling preparations production shrank to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Metal Pickling Preparations Exports

Exports from Thailand

In 2021, after two years of decline, there was significant growth in overseas shipments of pickling preparations for metal surfaces, when their volume increased by 19% to X tons. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 41% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal pickling preparations exports surged to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 45% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and Singapore (X tons) were the main destinations of metal pickling preparations exports from Thailand, together accounting for 67% of total exports. Malaysia, the Philippines, Lao People's Democratic Republic, Cambodia and India lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +24.5%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for pickling preparations for metal surfaces exports from Thailand, comprising 42% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports. It was followed by Malaysia, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.4% per year) and Malaysia (+1.5% per year).

Export Prices by Country

The average metal pickling preparations export price stood at $X per ton in 2021, picking up by 16% against the previous year. Overall, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 70%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Indonesia ($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 India (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Pickling Preparations Imports

Imports into Thailand

After two years of decline, supplies from abroad of pickling preparations for metal surfaces increased by 6.2% to X tons in 2021. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 41%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, metal pickling preparations imports soared to $X in 2021. In general, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 46% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal pickling preparations to Thailand, with a 40% share of total imports. Moreover, metal pickling preparations imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.4% per year) and Taiwan (Chinese) (-2.4% per year).

In value terms, Japan ($X), Singapore ($X) and South Korea ($X) constituted the largest metal pickling preparations suppliers to Thailand, together comprising 72% of total imports.

Among the main suppliers, Singapore, with a CAGR of +16.1%, 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 2021, the average metal pickling preparations import price amounted to $X per ton, growing by 9.3% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal pickling preparations import price increased by +76.9% against 2016 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 41%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :