Thailand: Iron Household Articles Market 2024

Iron Household Articles Market Size in Thailand

The Thai iron household articles market surged to $X in 2021, jumping by 23% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Iron household articles consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Iron Household Articles Production in Thailand

In value terms, iron household articles production surged to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Iron Household Articles Exports

Exports from Thailand

In 2021, approx. X tons of table, kitchen or household articles and parts of iron were exported from Thailand; increasing by 12% on 2020 figures. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 106% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, iron household articles exports soared to $X in 2021. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 107%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for iron household articles exports from Thailand, with a 64% share of total exports. Moreover, iron household articles exports to the United States exceeded the volume sent to the second major destination, Cambodia (X tons), fivefold. Japan (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+60.2% per year) and Japan (+8.6% per year).

In value terms, the United States ($X) remains the key foreign market for table, kitchen or household articles and parts of iron exports from Thailand, comprising 41% of total exports. The second position in the ranking was held by Japan ($X), with a 15% share of total exports. It was followed by Australia, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+7.9% per year) and Australia (+24.5% per year).

Export Prices by Country

In 2021, the average iron household articles export price amounted to $X per ton, rising by 3.8% against the previous year. In general, the export price, however, recorded a deep slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 4.1%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.0%), while the prices for the other major destinations experienced a decline.

Iron Household Articles Imports

Imports into Thailand

In 2021, approx. X tons of table, kitchen or household articles and parts of iron were imported into Thailand; surging by 40% against the previous year's figure. In general, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 50%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron household articles imports rose rapidly to $X in 2021. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of iron household articles to Thailand, accounting for a 77% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.2% per year) and Taiwan (Chinese) (+4.4% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to Thailand, comprising 79% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.4% per year) and Taiwan (Chinese) (+0.2% per year).

Import Prices by Country

In 2021, the average iron household articles import price amounted to $X per ton, with a decrease of -18.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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