Thailand: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Thailand

The Thai market for prepared glues and other prepared adhesives skyrocketed to $X in 2021, rising by 25% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Prepared Glues And Other Prepared Adhesives in Thailand

In value terms, production of prepared glues and other prepared adhesives surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.3% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 44% against the previous year. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Thailand

In 2021, approx. X tons of prepared glues and other prepared adhesives were exported from Thailand; approximately reflecting the previous year's figure. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 25% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of prepared glues and other prepared adhesives stood at $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 28%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons), South Korea (X tons) and Myanmar (X tons) were the main destinations of exports of prepared glues and other prepared adhesives from Thailand, with a combined 40% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +51.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared glues and other prepared adhesives exported from Thailand were Japan ($X), Vietnam ($X) and South Korea ($X), with a combined 40% share of total exports.

South Korea, with a CAGR of +46.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for prepared glues and other prepared adhesives amounted to $X per ton, with an increase of 13% against the previous year. In general, the export price, however, showed a slight curtailment. The pace of growth was the most pronounced in 2015 when the average export price increased by 37%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, 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 Japan ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Thailand

For the sixth year in a row, Thailand recorded growth in overseas purchases of prepared glues and other prepared adhesives, which increased by 18% to X tons in 2021. Overall, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 31% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of prepared glues and other prepared adhesives surged to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.6% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest prepared glues and other prepared adhesives supplier to Thailand, with a 56% share of total imports. Moreover, imports of prepared glues and other prepared adhesives from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+17.5% per year) and Indonesia (+48.5% per year).

In value terms, China ($X) constituted the largest supplier of prepared glues and other prepared adhesives to Thailand, comprising 42% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Malaysia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.3% per year) and Malaysia (+11.0% per year).

Import Prices by Country

The average import price for prepared glues and other prepared adhesives stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price, however, continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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