Thailand: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Thailand

The Thai potassium hydroxide market reached $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, saw a noticeable descent. Potassium hydroxide consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Potassium Hydroxide Production in Thailand

In value terms, potassium hydroxide production amounted to $X in 2022 estimated in export price. In general, production, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 38%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Potassium Hydroxide Exports

Exports from Thailand

After two years of growth, shipments abroad of potassium hydroxide (caustic potash) decreased by -22.4% to X tons in 2022. In general, exports, however, showed strong growth. The growth pace was the most rapid in 2015 with an increase of 270% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, potassium hydroxide exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 157%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for potassium hydroxide exports from Thailand, accounting for a 86% share of total exports. Moreover, potassium hydroxide exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), ninefold. Malaysia (X tons) ranked third in terms of total exports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+11.6% per year) and Malaysia (-20.4% per year).

In value terms, Singapore ($X) remains the key foreign market for potassium hydroxide (caustic potash) exports from Thailand, comprising 78% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 9.2% share of total exports. It was followed by Vietnam, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+7.0% per year) and Vietnam (+2.5% per year).

Export Prices by Country

The average potassium hydroxide export price stood at $X per ton in 2022, increasing by 56% against the previous year. Overall, the export price, however, showed a perceptible slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Singapore ($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 Vietnam (+8.6%), while the prices for the other major destinations experienced a decline.

Potassium Hydroxide Imports

Imports into Thailand

In 2022, after four years of growth, there was significant decline in supplies from abroad of potassium hydroxide (caustic potash), when their volume decreased by -15.8% to X tons. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 74% against the previous year. Imports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, potassium hydroxide imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of potassium hydroxide imports to Thailand, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +33.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest potassium hydroxide suppliers to Thailand were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 89% of total imports.

In terms of the main suppliers, China, with a CAGR of +29.7%, recorded 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 potassium hydroxide import price stood at $X per ton in 2022, rising by 39% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium hydroxide import price increased by +40.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 54%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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