Thailand: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Thailand

The Thai market for plastic hoses and hose fittings surged to $X in 2021, growing by 34% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Plastic Hoses and Hose Fittings in Thailand

In value terms, plastic hose and hose fitting production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -23.1% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 46% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Exports of Plastic Hoses and Hose Fittings

Exports from Thailand

In 2021, exports of plastic hoses and hose fittings from Thailand reduced to X tons, declining by -5.2% compared with the year before. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 32% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, plastic hose and hose fitting exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Lao People's Democratic Republic (X tons) and Cambodia (X tons) were the main destinations of plastic hose and hose fitting exports from Thailand, with a combined 49% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +53.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic hose and hose fitting exported from Thailand were the United States ($X), Vietnam ($X) and Japan ($X), together accounting for 42% of total exports. Indonesia, Lao People's Democratic Republic, Cambodia, Malaysia, China, South Korea, India, Maldives and Myanmar lagged somewhat behind, together comprising a further 36%.

South Korea, with a CAGR of +46.9%, saw the highest growth rate of the value of exports, in terms of 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 2021, the average export price for plastic hoses and hose fittings amounted to $X per ton, growing by 12% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Myanmar ($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 Vietnam (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Thailand

In 2021, supplies from abroad of plastic hoses and hose fittings increased by 9.3% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports posted a strong expansion. The growth pace was the most rapid in 2020 when imports increased by 85%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, plastic hose and hose fitting imports soared to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic hose and hose fitting to Thailand, with a 84% share of total imports. Moreover, plastic hose and hose fitting imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.1% per year) and South Korea (+6.2% per year).

In value terms, China ($X) constituted the largest supplier of plastic hoses and hose fittings to Thailand, comprising 46% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.3% per year) and Taiwan (Chinese) (+8.2% per year).

Import Prices by Country

In 2021, the average import price for plastic hoses and hose fittings amounted to $X per ton, increasing by 14% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($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) (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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