Thailand: Thermoforming Machine Market 2024

Thermoforming Machine Market Size in Thailand

In 2021, the Thai thermoforming machine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Thermoforming Machine Production in Thailand

In value terms, thermoforming machine production fell markedly to $X in 2021 estimated in export price. Overall, production saw a dramatic shrinkage. Over the period under review, production attained the peak level at $X in 2020, and then reduced remarkably in the following year.

Thermoforming Machine Exports

Exports from Thailand

In 2021, the amount of thermoforming machines for working rubber or plastics exported from Thailand shrank dramatically to X units, reducing by -99.6% compared with 2020 figures. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 120,064% against the previous year. As a result, the exports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, thermoforming machine exports soared to $X in 2021. In general, exports saw a mild decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for thermoforming machine exports from Thailand, accounting for a 84% share of total exports. Moreover, thermoforming machine exports to Indonesia exceeded the volume sent to the second major destination, South Africa (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Indonesia amounted to +105.1%.

In value terms, Indonesia ($X) emerged as the key foreign market for thermoforming machines for working rubber or plastics exports from Thailand, comprising 88% of total exports. The second position in the ranking was held by South Africa ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia amounted to +111.3%.

Export Prices by Country

In 2021, the average thermoforming machine export price amounted to $X per unit, jumping by 121,061% against the previous year. Overall, the export price, however, recorded a slight curtailment. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to South Africa stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.0%).

Thermoforming Machine Imports

Imports into Thailand

In 2021, the amount of thermoforming machines for working rubber or plastics imported into Thailand fell dramatically to X units, with a decrease of -24.5% on 2020. In general, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 206%. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, thermoforming machine imports declined sharply to $X in 2021. Over the period under review, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 228% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest thermoforming machine supplier to Thailand, accounting for a 82% share of total imports. Moreover, thermoforming machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Italy (X units), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-24.4% per year) and Italy (-1.4% per year).

In value terms, China ($X) constituted the largest supplier of thermoforming machines for working rubber or plastics to Thailand, comprising 58% of total imports. The second position in the ranking was held by Japan ($X), with an 8.4% share of total imports. It was followed by the United States, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.5% per year) and the United States (-10.9% per year).

Import Prices by Country

The average thermoforming machine import price stood at $X per unit in 2021, shrinking by -21.9% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the average import price increased by 15% against the previous year. As a result, import price attained the peak level of $X per unit, and then contracted significantly in the following year.

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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+26.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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