Thailand: Zirconium Market 2025

Zirconium Market Size in Thailand

The Thai zirconium market skyrocketed to $X in 2022, picking up by 30% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Zirconium Production in Thailand

In value terms, zirconium production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. Zirconium production peaked in 2022 and is expected to retain growth in the immediate term.

Zirconium Exports

Exports from Thailand

In 2021, approx. X kg of zirconium were exported from Thailand; growing by 118% compared with 2020. Overall, exports, however, continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 1,156% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, zirconium exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X kg) was the main destination for zirconium exports from Thailand, with a 92% share of total exports. Moreover, zirconium exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Australia (X kg), more than tenfold.

From 2017 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-41.0% per year) and Hong Kong SAR (-76.2% per year).

In value terms, Lao People's Democratic Republic ($X), Australia ($X) and Hong Kong SAR ($X) appeared to be the largest markets for zirconium exported from Thailand worldwide.

In terms of the main countries of destination, Lao People's Democratic Republic, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average zirconium export price stood at $X per ton in 2021, jumping by 303% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+36.6%).

Zirconium Imports

Imports into Thailand

In 2022, the amount of zirconium imported into Thailand dropped markedly to X tons, falling by -88.3% compared with the previous year. In general, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 212%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, zirconium imports rose significantly to $X in 2022. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 92%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X tons) was the main zirconium supplier to Thailand, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +9.5%.

In value terms, Germany ($X) constituted the largest supplier of zirconium to Thailand.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +14.1%.

Import Prices by Country

The average zirconium import price stood at $X per ton in 2022, picking up by 865% against the previous year. Over the period under review, the import price enjoyed a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Germany.

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +4.3% per year.

Source: IndexBox Platform

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