Thailand: Starch Manufacture Residues Market 2024

Starch Manufacture Residues Market Size in Thailand

In 2022, the Thai starch manufacture residues market decreased by -12.7% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption, however, posted a notable expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Starch Manufacture Residues Production in Thailand

In value terms, starch manufacture residues production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Starch Manufacture Residues Exports

Exports from Thailand

In 2022, shipments abroad of residues of starch manufacture increased by 20% to X tons, rising for the third consecutive year after three years of decline. Overall, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2021 when exports increased by 49%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, starch manufacture residues exports surged to $X in 2022. Over the period under review, exports, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 90%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), China (X tons) and New Zealand (X tons) were the main destinations of starch manufacture residues exports from Thailand, with a combined 100% share of total exports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +35.7%), while shipments for the other leaders experienced a decline.

In value terms, South Korea ($X), China ($X) and New Zealand ($X) appeared to be the largest markets for starch manufacture residues exported from Thailand worldwide, with a combined 99% share of total exports.

Among the main countries of destination, New Zealand, with a CAGR of +38.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average starch manufacture residues export price amounted to $X per ton, surging by 12% against the previous year. Overall, the export price recorded noticeable growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 56%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($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 South Korea (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Manufacture Residues Imports

Imports into Thailand

In 2022, supplies from abroad of residues of starch manufacture increased by 12% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.2% 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 2014 with an increase of 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, starch manufacture residues imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +69.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest starch manufacture residues supplier to Thailand, accounting for a 72% share of total imports. Moreover, starch manufacture residues imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +1.5%.

In value terms, the United States ($X) constituted the largest supplier of residues of starch manufacture to Thailand, comprising 73% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +3.8%.

Import Prices by Country

The average starch manufacture residues import price stood at $X per ton in 2022, rising by 9.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 24%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.3%).

Source: IndexBox Platform

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