Thailand: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Thailand

The Thai polyethylene glycol and polyether market dropped dramatically to $X in 2021, reducing by -47.9% against the previous year. Over the period under review, consumption showed a abrupt setback. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Thailand

In value terms, polyethylene glycol and polyether production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 78% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Thailand

Polyethylene glycol and polyether exports from Thailand surged to X tons in 2021, with an increase of 38% against 2020 figures. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 305% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, polyethylene glycol and polyether exports surged to $X in 2021. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2015 when exports increased by 202%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) was the main destination for polyethylene glycol and polyether exports from Thailand, accounting for a 35% share of total exports. Moreover, polyethylene glycol and polyether exports to China exceeded the volume sent to the second major destination, India (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+57.4% per year) and Indonesia (+32.1% per year).

In value terms, China ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Thailand, comprising 33% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+51.5% per year) and Indonesia (+22.1% per year).

Export Prices by Country

The average polyethylene glycol and polyether export price stood at $X per ton in 2021, rising by 43% against the previous year. Overall, the export price, however, showed a slight descent. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Vietnam ($X per ton), while the average price for exports to Australia ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.4%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Thailand

In 2021, supplies from abroad of polyethylene glycols and polyethers in primary forms increased by 14% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol and polyether imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Singapore (X tons) and the United States (X tons) were the main suppliers of polyethylene glycol and polyether imports to Thailand, together accounting for 64% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +5.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest polyethylene glycol and polyether suppliers to Thailand were China ($X), Singapore ($X) and the United States ($X), with a combined 68% share of total imports.

Among the main suppliers, Singapore, with a CAGR of +9.9%, saw 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

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, increasing by 22% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Singapore ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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