Thailand: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Thailand

In 2021, after three years of decline, there was significant growth in the Thai market for polyethylene with a specific gravity of less than X, in primary forms, when its value increased by 12% to $X. Overall, consumption saw a relatively flat trend pattern. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Thailand

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of 14%. Production of peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Thailand

In 2021, exports of polyethylene with a specific gravity of less than X, in primary forms from Thailand stood at X tons, remaining stable against 2020. In general, exports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 28% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Over the period under review, exports, however, saw a perceptible slump. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from Thailand, accounting for a 33% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to China exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+4.1% per year) and Vietnam (+13.5% per year).

In value terms, China ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Thailand, comprising 31% of total exports. The second position in the ranking was held by Indonesia ($X), with a 15% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+3.1% per year) and Vietnam (+12.4% per year).

Export Prices by Country

In 2021, the average export price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, surging by 35% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and India ($X per ton), while the average price for exports to China ($X per ton) and Malaysia ($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 Taiwan (Chinese) (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Thailand

In 2021, after six years of growth, there was significant decline in overseas purchases of polyethylene with a specific gravity of less than X, in primary forms, when their volume decreased by -6.3% to X tons. The total import volume increased at an average annual rate of +3.2% 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 2020 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Malaysia (X tons) and Singapore (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Thailand, with a combined 61% share of total imports. These countries were followed by Qatar, the United Arab Emirates, the United States, Kuwait, South Korea, Indonesia, Japan and Brazil, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +127.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Malaysia ($X) and Singapore ($X) were the largest polyethylene with a specific gravity of less than X suppliers to Thailand, with a combined 58% share of total imports. Qatar, the United States, the United Arab Emirates, South Korea, Japan, Kuwait, Brazil and Indonesia lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, Brazil, with a CAGR of +127.9%, recorded the highest growth rate of 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 import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, with an increase of 36% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, 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 Japan ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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