Thailand: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Thailand

For the third year in a row, the Thai polyethylene in primary forms market recorded decline in sales value, which decreased by 0% to less than $X in 2021. Overall, consumption saw a perceptible curtailment. The pace of growth was the most pronounced in 2018 with an increase of 6.5% against the previous year. Polyethylene in primary forms consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Polyethylene in Primary Forms in Thailand

In value terms, polyethylene in primary forms production amounted to $X in 2021 estimated in export price. In general, production, however, faced a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene in Primary Forms

Exports from Thailand

In 2021, the amount of polyethylene in primary forms exported from Thailand expanded remarkably to X tons, increasing by 5.4% compared with 2020 figures. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 11%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms exports totaled less than $X in 2021. Over the period under review, exports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Guadeloupe (X tons) and Tonga (X tons) were the main destinations of polyethylene in primary forms exports from Thailand.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guadeloupe (with a CAGR of 0.0%).

From 2012 to 2021, the average annual rate of growth in terms of value to No country was relatively modest.

Export Prices by Country

In 2019, the average polyethylene in primary forms export price amounted to $X per ton, reducing by -17.2% against the previous year. In general, the export price showed a noticeable downturn. The growth pace was the most rapid in 2018 an increase of 8.6%. The export price peaked at $X per ton in 2014; however, from 2015 to 2019, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2019, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and India ($X per ton), while the average price for exports to China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to India (-2.7%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into Thailand

In 2019, supplies from abroad of polyethylene in primary forms increased by 4.5% to X tons, rising for the fifth year in a row after two years of decline. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 11%. Imports peaked in 2019 and are expected to retain growth in years to come.

In value terms, polyethylene in primary forms imports dropped to $X in 2019. Over the period under review, imports, however, showed a slight contraction. The pace of growth was the most pronounced in 2017 with an increase of 8.5% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2019, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of polyethylene in primary forms imports to Thailand, with a combined 52% share of total imports. Singapore, Qatar, Japan, Brazil and Kuwait lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2019, the biggest increases were recorded for Brazil (with a CAGR of +134.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Malaysia ($X) and the United States ($X) constituted the largest polyethylene in primary forms suppliers to Thailand, with a combined 51% share of total imports. These countries were followed by Singapore, Qatar, Japan, Brazil and Kuwait, which together accounted for a further 35%.

Brazil, with a CAGR of +111.2%, 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 mixed trend patterns.

Import Prices by Country

In 2019, the average polyethylene in primary forms import price amounted to $X per ton, dropping by -14.5% against the previous year. Over the period under review, the import price saw a pronounced descent. The pace of growth appeared the most rapid in 2014 when the average import price increased by 7.2% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2019, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Brazil ($X per ton), while the price for Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Kuwait (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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