Thailand: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Thailand

In 2022, the Thai vegetable waxes market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, saw a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Waxes Production in Thailand

In value terms, vegetable waxes production stood at $X in 2022 estimated in export price. In general, production, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Waxes Exports

Exports from Thailand

In 2022, shipments abroad of vegetable waxes decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, vegetable waxes exports surged to $X in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for vegetable waxes exports from Thailand, with a X% share of total exports. Moreover, vegetable waxes exports to China exceeded the volume sent to the second major destination, Myanmar (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Vietnam (X% per year).

In value terms, China ($X) remains the key foreign market for vegetable waxes exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average vegetable waxes export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Myanmar (X%), while the prices for the other major destinations experienced a decline.

Vegetable Waxes Imports

Imports into Thailand

After two years of growth, supplies from abroad of vegetable waxes decreased by X% to X tons in 2022. Over the period under review, imports saw a deep downturn. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable waxes imports shrank to $X in 2022. In general, imports showed a pronounced contraction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vegetable waxes to Thailand, accounting for a X% share of total imports. Moreover, vegetable waxes imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Brazil (X% per year).

In value terms, China ($X), Brazil ($X) and the United States ($X) constituted the largest vegetable waxes suppliers to Thailand, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average vegetable waxes import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average 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 Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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