Thailand: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Thailand

The Thai metal-reinforced rubber hose market declined to $X in 2022, with a decrease of -11.3% against the previous year. In general, consumption, however, continues to indicate noticeable growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Metal-Reinforced Rubber Hose Production in Thailand

In value terms, metal-reinforced rubber hose production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 25% against the previous year. Metal-reinforced rubber hose production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Metal-Reinforced Rubber Hose Exports

Exports from Thailand

In 2022, shipments abroad of rubber hose reinforced with metal increased by 1.3% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, metal-reinforced rubber hose exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Germany (X tons) and Italy (X tons) were the main destinations of metal-reinforced rubber hose exports from Thailand, together comprising 69% 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 Italy (with a CAGR of +180.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for rubber hose reinforced with metal exports from Thailand, comprising 36% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by Argentina, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+47.1% per year) and Argentina (+19.3% per year).

Export Prices by Country

The average metal-reinforced rubber hose export price stood at $X per ton in 2022, growing by 6.2% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 8.7% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to the United Arab Emirates ($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 Italy (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal-Reinforced Rubber Hose Imports

Imports into Thailand

In 2022, approx. X tons of rubber hose reinforced with metal were imported into Thailand; reducing by -11.1% against the previous year. In general, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 +50.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 69%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, metal-reinforced rubber hose imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +59.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest metal-reinforced rubber hose supplier to Thailand, with a 49% share of total imports. Moreover, metal-reinforced rubber hose imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.1% per year) and Malaysia (+4.7% per year).

In value terms, the largest metal-reinforced rubber hose suppliers to Thailand were China ($X), Japan ($X) and Malaysia ($X), with a combined 75% share of total imports. The United States, India, Singapore, Taiwan (Chinese), Italy, South Korea and Turkey lagged somewhat behind, together accounting for a further 21%.

South Korea, with a CAGR of +42.3%, recorded the highest growth rate of the value of imports, in terms of 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 metal-reinforced rubber hose import price amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the import price, however, showed a slight descent. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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