Thailand: Sails Market 2025

Sails Market Size in Thailand

The Thai sails market declined to $X in 2022, almost unchanged from the previous year. In general, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Sails Production in Thailand

In value terms, sails production reduced slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -12.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 65% 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.

Sails Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of sails, when their volume decreased by -5.3% to X tons. In general, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.3% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 41% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, sails exports fell to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 61%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

The United States (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of sails exports from Thailand, together comprising 54% of total exports. Australia, France, Norway, China and Spain lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +45.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Australia ($X) constituted the largest markets for sails exported from Thailand worldwide, with a combined 55% share of total exports. The Netherlands, Norway, France, Spain and China lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, China, with a CAGR of +21.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sails export price stood at $X per ton in 2022, falling by -6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 26%. The export price peaked at $X per ton in 2021, and then fell in the following year.

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 Norway ($X per ton), while the average price for exports to China ($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 Cambodia (+33.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sails Imports

Imports into Thailand

In 2022, overseas purchases of sails increased by 27% to X tons, rising for the third year in a row after two years of decline. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 265% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, sails imports surged to $X in 2022. Overall, imports recorded a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the Philippines (X tons) and Sri Lanka (X tons) were the main suppliers of sails imports to Thailand, with a combined 91% share of total imports. Fiji, Hong Kong SAR, Australia and Spain lagged somewhat behind, together comprising a further 7.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Fiji (with a CAGR of +438.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), China ($X) and Sri Lanka ($X) were the largest sails suppliers to Thailand, together accounting for 89% of total imports.

The Philippines, with a CAGR of +178.8%, saw the highest growth rate of 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 sails import price amounted to $X per ton, increasing by 72% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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