Thailand: Sulphites Market 2024

Sulphites Market Size in Thailand

The Thai sulphites market soared to $X in 2022, picking up by 33% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sulphites Production in Thailand

In value terms, sulphites production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sulphites Exports

Exports from Thailand

In 2022, sulphites exports from Thailand contracted to X tons, with a decrease of -12.1% on the year before. Overall, total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 19%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, sulphites exports surged to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +35.7% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 38% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Australia (X tons), Tanzania (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of sulphites exports from Thailand, together accounting for 34% of total exports. The Philippines, India, Indonesia, the United States, Saudi Arabia, Canada, Pakistan, Japan, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +16.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sulphites exported from Thailand were Australia ($X), the Philippines ($X) and Tanzania ($X), together comprising 31% of total exports.

Among the main countries of destination, Tanzania, with a CAGR of +25.0%, recorded the highest rates of growth with regard to 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

In 2022, the average sulphites export price amounted to $X per ton, picking up by 43% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Canada ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) and Tanzania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into Thailand

Sulphites imports into Thailand dropped slightly to X tons in 2022, declining by -1.9% on the previous year's figure. In general, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2017 when imports increased by 90%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sulphites imports surged to $X in 2022. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 104%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest sulphites supplier to Thailand, with a 82% share of total imports. Moreover, sulphites imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.8% per year) and Taiwan (Chinese) (+2.3% per year).

In value terms, China ($X) constituted the largest supplier of sulphites to Thailand, comprising 71% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.1% per year) and Taiwan (Chinese) (+11.9% per year).

Import Prices by Country

In 2022, the average sulphites import price amounted to $X per ton, jumping by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 28%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :