Thailand: Polyacetals Market 2024

Polyacetals Market Size in Thailand

In 2021, the Thai polyacetals market decreased by -36.7% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Polyacetals Production in Thailand

In value terms, polyacetals production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 14%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Polyacetals Exports

Exports from Thailand

In 2021, shipments abroad of polyacetals in primary forms increased by 10% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 22%. The exports peaked at X tons in 2017; afterwards, it flattened through to 2021.

In value terms, polyacetals exports surged to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for polyacetals exports from Thailand, with a 24% share of total exports. Moreover, polyacetals exports to China exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.6% per year) and Belgium (+24.4% per year).

In value terms, China ($X) remains the key foreign market for polyacetals in primary forms exports from Thailand, comprising 23% of total exports. The second position in the ranking was held by India ($X), with a 10% share of total exports. It was followed by Vietnam, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.8% per year) and Vietnam (+17.1% per year).

Export Prices by Country

In 2021, the average polyacetals export price amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Israel ($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 Hong Kong SAR (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polyacetals Imports

Imports into Thailand

After two years of decline, overseas purchases of polyacetals in primary forms increased by 31% to X tons in 2021. Overall, imports saw a relatively flat trend pattern. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, polyacetals imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest polyacetals supplier to Thailand, accounting for a 61% share of total imports. Moreover, polyacetals imports from Malaysia exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.0% per year) and South Korea (+18.7% per year).

In value terms, Malaysia ($X), Japan ($X) and South Korea ($X) were the largest polyacetals suppliers to Thailand, together accounting for 84% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +22.0%, 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 mixed trend patterns.

Import Prices by Country

The average polyacetals import price stood at $X per ton in 2021, increasing by 13% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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