Thailand: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Thailand

The Thai unvulcanised rubber market expanded modestly to $X in 2021, with an increase of 2.2% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Unvulcanised Rubber Production in Thailand

In value terms, unvulcanised rubber production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible shrinkage. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Unvulcanised Rubber Exports

Exports from Thailand

In 2021, overseas shipments of unvulcanised rubber increased by 25% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, unvulcanised rubber exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), China (X tons) and India (X tons) were the main destinations of unvulcanised rubber exports from Thailand, together accounting for 68% of total exports. Spain, Australia, France, Italy and Japan lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +810.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and India ($X) constituted the largest markets for unvulcanised rubber exported from Thailand worldwide, with a combined 64% share of total exports. Spain, France, Italy, Australia and Japan lagged somewhat behind, together accounting for a further 23%.

Among the main countries of destination, Italy, with a CAGR of +940.7%, recorded 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 unvulcanised rubber export price stood at $X per ton in 2021, surging by 18% against the previous year. Over the period under review, the export price, however, saw a mild descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 33%. Over the period under review, the average export prices hit record highs 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 Japan ($X per ton), while the average price for exports to Australia ($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 Italy (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanised Rubber Imports

Imports into Thailand

In 2021, purchases abroad of unvulcanised rubber increased by 20% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 179% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, unvulcanised rubber imports skyrocketed to $X in 2021. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by 108% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Japan (X tons) constituted the largest unvulcanised rubber supplier to Thailand, with a 54% share of total imports. Moreover, unvulcanised rubber imports from Japan exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+17.1% per year) and China (+62.4% per year).

In value terms, Japan ($X) constituted the largest supplier of unvulcanised rubber to Thailand, comprising 42% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the UK, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+50.5% per year) and the UK (+11.3% per year).

Import Prices by Country

In 2021, the average unvulcanised rubber import price amounted to $X per ton, picking up by 9.5% against the previous year. In general, the import price, however, showed a deep setback. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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