Thailand: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in Thailand

In 2022, the Thai prisms and mirrors market increased by 9.9% to $X, rising for the third consecutive year after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Prisms and mirrors consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Prisms And Mirrors Production in Thailand

In value terms, prisms and mirrors production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Prisms And Mirrors Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of prisms and mirrors, when their volume decreased by -11.2% to X tons. Over the period under review, exports, however, posted a temperate increase. The pace of growth was the most pronounced in 2015 with an increase of 34% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, prisms and mirrors exports contracted rapidly to $X in 2022. In general, exports, however, posted a strong expansion. The growth pace was the most rapid in 2018 when exports increased by 109%. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Singapore (X tons) was the main destination for prisms and mirrors exports from Thailand, with a 48% share of total exports. Moreover, prisms and mirrors exports to Singapore exceeded the volume sent to the second major destination, India (X tons), fourfold. The third position in this ranking was taken by Mexico (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+8.0% per year) and Mexico (+70.9% per year).

In value terms, Singapore ($X) remains the key foreign market for prisms and mirrors exports from Thailand, comprising 78% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.8% share of total exports. It was followed by China, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-2.4% per year) and China (+13.8% per year).

Export Prices by Country

The average prisms and mirrors export price stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. In general, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by 69%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($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 the United States (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports into Thailand

Prisms and mirrors imports into Thailand shrank remarkably to X tons in 2022, with a decrease of -23.6% on 2021. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 34%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, prisms and mirrors imports expanded to $X in 2022. Overall, imports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 21%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Myanmar (X tons) were the main suppliers of prisms and mirrors imports to Thailand, together accounting for 91% of total imports. Switzerland, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 5.1%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +26.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest prisms and mirrors suppliers to Thailand were Japan ($X), China ($X) and Switzerland ($X), together accounting for 88% of total imports.

Switzerland, with a CAGR of +34.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 prisms and mirrors import price amounted to $X per ton, growing by 37% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prisms and mirrors import price increased by +70.1% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+35.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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