Thailand: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Thailand

The Thai polymethyl methacrylate market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the total consumption indicated mild growth 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, consumption decreased by -29.8% against 2018 indices. Polymethyl methacrylate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Polymethyl Methacrylate Production in Thailand

In value terms, polymethyl methacrylate production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% 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 2017 when the production volume increased by 22%. Polymethyl methacrylate production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Thailand

In 2022, exports of polymethyl methacrylate in primary forms from Thailand stood at X tons, growing by 8.6% compared with the previous year's figure. In general, exports posted a remarkable increase. The growth pace was the most rapid in 2021 when exports increased by 114%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, polymethyl methacrylate exports fell slightly to $X in 2022. Overall, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 54%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for polymethyl methacrylate exports from Thailand, with a 77% share of total exports. Moreover, polymethyl methacrylate exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), sevenfold. The third position in this ranking was taken by Vietnam (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +58.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-3.1% per year) and Vietnam (+2.8% per year).

In value terms, Indonesia ($X), China ($X) and Vietnam ($X) appeared to be the largest markets for polymethyl methacrylate exported from Thailand worldwide, together accounting for 81% of total exports.

In terms of the main countries of destination, China, with a CAGR of +28.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, waning by -11.7% against the previous year. In general, the export price saw a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 5.8% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Thailand

In 2022, supplies from abroad of polymethyl methacrylate in primary forms increased by 21% to X tons, rising for the second consecutive year after two years of decline. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +79.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, polymethyl methacrylate imports surged to $X in 2022. In general, 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 +73.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), Singapore (X tons) and Japan (X tons) were the main suppliers of polymethyl methacrylate imports to Thailand, together accounting for 66% of total imports. China, Saudi Arabia, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +47.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polymethyl methacrylate suppliers to Thailand were South Korea ($X), Japan ($X) and Singapore ($X), with a combined 64% share of total imports. China, Saudi Arabia, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Saudi Arabia, with a CAGR of +50.5%, 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

In 2022, the average polymethyl methacrylate import price amounted to $X per ton, growing by 2.2% against the previous year. In general, the import price, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2014 an increase of 13%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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