Thailand: Polycarbonate Market 2024

Polycarbonate Market Size in Thailand

In 2022, the Thai polycarbonate market increased by 9.9% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Polycarbonate Production in Thailand

In value terms, polycarbonate production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a slight decline. The pace of growth appeared the most rapid in 2014 when the production volume increased by 15% against the previous year. Polycarbonate production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polycarbonate Exports

Exports from Thailand

After two years of growth, overseas shipments of polycarbonates (in primary forms) decreased by -0.8% to X tons in 2022. Over the period under review, exports, however, saw a slight increase. The growth pace was the most rapid in 2014 with an increase of 12%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, polycarbonate exports stood at $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. Over the period under review, the exports reached the maximum at $X in 2018; afterwards, it flattened through to 2022.

Exports by Country

China (X tons), India (X tons) and the United States (X tons) were the main destinations of polycarbonate exports from Thailand, with a combined 70% share of total exports. Malaysia, Vietnam, Indonesia, Japan, Taiwan (Chinese), the Philippines, Hong Kong SAR, South Korea and Singapore lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, 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 +16.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for polycarbonates (in primary forms) exports from Thailand, comprising 41% of total exports. The second position in the ranking was taken by India ($X), with a 20% share of total exports. It was followed by Vietnam, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+10.3% per year) and Vietnam (+18.2% per year).

Export Prices by Country

The average polycarbonate export price stood at $X per ton in 2022, growing by 2.9% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Vietnam ($X per ton), while the average price for exports to the United States ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarbonate Imports

Imports into Thailand

Polycarbonate imports into Thailand fell to X tons in 2022, waning by -10.6% on the previous year's figure. Overall, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 37%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, polycarbonate imports fell to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 76% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of polycarbonate to Thailand, with a 59% share of total imports. Moreover, polycarbonate imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.2% per year) and South Korea (+4.5% per year).

In value terms, China ($X) constituted the largest supplier of polycarbonates (in primary forms) to Thailand, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by South Korea, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.7% per year) and South Korea (+6.4% per year).

Import Prices by Country

In 2022, the average polycarbonate import price amounted to $X per ton, falling by -2.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :