Thailand: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Thailand

The Thai reaction initiators and accelerators market rose to $X in 2022, growing by 4.5% against the previous year. Overall, consumption continues to indicate a prominent increase. Reaction initiators and accelerators consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Thailand

In value terms, reaction initiators and accelerators production surged to $X in 2022 estimated in export price. Overall, production recorded significant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 513%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Thailand

For the fourth consecutive year, Thailand recorded growth in overseas shipments of reaction initiators, reaction accelerators and catalytic preparations, which increased by 21% to X tons in 2022. In general, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 89%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, reaction initiators and accelerators exports fell to $X in 2022. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 326%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Japan (X tons), South Korea (X tons) and Indonesia (X tons) were the main destinations of reaction initiators and accelerators exports from Thailand, together comprising 70% of total exports.

From 2012 to 2022, 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 +37.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for reaction initiators, reaction accelerators and catalytic preparations exports from Thailand, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports. It was followed by South Korea, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +62.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+56.2% per year) and South Korea (+51.9% per year).

Export Prices by Country

The average reaction initiators and accelerators export price stood at $X per ton in 2022, shrinking by -25.9% against the previous year. In general, the export price, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 166%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Taiwan (Chinese) (+32.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Thailand

Reaction initiators and accelerators imports into Thailand shrank modestly to X tons in 2022, therefore, remained relatively stable against 2021 figures. The total import volume increased at an average annual rate of +3.3% 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 2019 when imports increased by 24% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, reaction initiators and accelerators imports reduced to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 67% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of reaction initiators and accelerators to Thailand, with a 36% share of total imports. Moreover, reaction initiators and accelerators imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.3% per year) and Japan (+6.2% per year).

In value terms, Japan ($X) constituted the largest supplier of reaction initiators, reaction accelerators and catalytic preparations to Thailand, comprising 65% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total imports. It was followed by the United States, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+36.0% per year) and the United States (+7.5% per year).

Import Prices by Country

In 2022, the average reaction initiators and accelerators import price amounted to $X per ton, declining by -7.6% against the previous year. Over the period under review, the import price, however, showed resilient growth. The pace of growth was the most pronounced in 2020 an increase of 59%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

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 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 Malaysia (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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