Thailand: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Thailand

In 2022, the Thai polycarboxylic acid market decreased by -12.7% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Polycarboxylic Acid Production in Thailand

In value terms, polycarboxylic acid production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24%. Polycarboxylic acid production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Polycarboxylic Acid Exports

Exports from Thailand

In 2022, the amount of polycarboxylic acids exported from Thailand declined to X tons, reducing by -2.1% against the previous year. In general, exports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2021 when exports increased by 21%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polycarboxylic acid exports surged to $X in 2022. Overall, exports showed a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 70% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Egypt (X tons) and Vietnam (X tons) were the main destinations of polycarboxylic acid exports from Thailand, with a combined 62% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +79.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polycarboxylic acid exported from Thailand were India ($X), Egypt ($X) and Vietnam ($X), together comprising 62% of total exports.

Egypt, with a CAGR of +73.5%, saw the highest rates of growth with regard to 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 2022, the average polycarboxylic acid export price amounted to $X per ton, growing by 27% against the previous year. In general, the export price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 40%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and Oman ($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 Japan (-1.6%), while the prices for the other major destinations experienced a decline.

Polycarboxylic Acid Imports

Imports into Thailand

In 2022, after two years of growth, there was significant decline in supplies from abroad of polycarboxylic acids, when their volume decreased by -9.7% to X tons. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, polycarboxylic acid imports stood at $X in 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 +69.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), South Korea (X tons) and Malaysia (X tons) were the main suppliers of polycarboxylic acid imports to Thailand, together accounting for 55% of total imports. Taiwan (Chinese), Japan, Canada, the United States and Germany lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +65.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Taiwan (Chinese) ($X) were the largest polycarboxylic acid suppliers to Thailand, together comprising 53% of total imports. South Korea, Japan, Canada, Germany and the United States lagged somewhat behind, together accounting for a further 43%.

Canada, with a CAGR of +69.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polycarboxylic acid import price stood at $X per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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