Thailand: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Thailand

In 2021, after five years of decline, there was significant growth in the Thai zinc ores and concentrates market, when its value increased by 10% to $X. Overall, consumption, however, showed a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Zinc Ores And Concentrates in Thailand

In value terms, zinc ores and concentrates production expanded notably to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt downturn. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports from Thailand

In 2021, exports of zinc ores and concentrates from Thailand shrank markedly to X tons, which is down by -51% against the previous year. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 70% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, zinc ores and concentrates exports reduced rapidly to $X in 2021. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 71% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for zinc ores and concentrates exports from Thailand, with a 66% share of total exports. Moreover, zinc ores and concentrates exports to South Korea exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+4.6% per year) and Canada (+1,152.4% per year).

In value terms, Canada ($X) emerged as the key foreign market for zinc ores and concentrates exports from Thailand, comprising 51% of total exports. The second position in the ranking was held by South Korea ($X), with a 23% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +553.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-7.5% per year) and Taiwan (Chinese) (-4.5% per year).

Export Prices by Country

The average zinc ores and concentrates export price stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the export price, however, recorded a perceptible contraction. The growth pace was the most rapid in 2019 when the average export price increased by 42%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to South Korea ($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 Hong Kong SAR (+64.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Zinc Ores And Concentrates

Imports into Thailand

In 2021, the amount of zinc ores and concentrates imported into Thailand soared to X tons, jumping by 308% compared with the previous year. Over the period under review, imports, however, recorded a sharp shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 33,348%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, zinc ores and concentrates imports surged to $X in 2021. Overall, imports, however, saw a dramatic contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 18,619%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bangladesh (X tons) constituted the largest supplier of zinc ores and concentrates to Thailand, accounting for a 54% share of total imports. Moreover, zinc ores and concentrates imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was held by Lao People's Democratic Republic (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bangladesh was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+224.0% per year) and Lao People's Democratic Republic (-7.0% per year).

In value terms, Bangladesh ($X), Japan ($X) and Lao People's Democratic Republic ($X) were the largest zinc ores and concentrates suppliers to Thailand, with a combined 82% share of total imports. Poland and Myanmar lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, Poland, with a CAGR of +251.1%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average zinc ores and concentrates import price amounted to $X per ton, waning by -53.2% against the previous year. In general, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 98% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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