Thailand - Formic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Formic Acid, Its Salts and Esters in Thailand - 2023
Contents:
- Price for Formic Acid, Its Salts and Esters in Thailand (CIF) - 2023
- Price for Formic Acid, Its Salts and Esters in Thailand (FOB) - 2023
- Imports of Formic Acid, Its Salts and Esters in Thailand
- Exports of Formic Acid, Its Salts and Esters in Thailand
Price for Formic Acid, Its Salts and Esters in Thailand (CIF) - 2023
In November 2023, the average import price for formic acid, its salts and esters amounted to $658 per ton, falling by -8.8% against the previous month. Over the period under review, the import price continues to indicate a mild descent. The pace of growth was the most pronounced in January 2023 an increase of 16% against the previous month. Over the period under review, average import prices reached the peak figure at $853 per ton in May 2023; however, from June 2023 to November 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was China ($647 per ton), while the price for Taiwan (Chinese) stood at $632 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.8%).
Price for Formic Acid, Its Salts and Esters in Thailand (FOB) - 2023
In November 2023, the average export price for formic acid, its salts and esters amounted to $192 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 131% against the previous month. Over the period under review, the average export prices hit record highs at $314 per ton in December 2022; however, from January 2023 to November 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Vietnam ($853 per ton), while the average price for exports to Lao People's Democratic Republic totaled $151 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+0.1%).
Imports of Formic Acid, Its Salts and Esters in Thailand
In 2022, the amount of formic acid, its salts and esters imported into Thailand shrank remarkably to 11K tons, waning by -43.6% on 2021 figures. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 when imports increased by 110%. As a result, imports attained the peak of 19K tons, and then reduced dramatically in the following year.
In value terms, imports of formic acid, its salts and esters plummeted to $11M in 2022. Overall, imports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 225%. As a result, imports reached the peak of $17M, and then dropped rapidly in the following year.
| Import of Formic Acid, Its Salts and Esters in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.1 | 3.0 | 11.2 | 9.2 | 21.7% |
| Taiwan (Chinese) | 0.3 | 0.1 | 0.2 | 0.3 | 0.0% |
| Finland | 0.3 | 0.2 | 0.4 | 0.3 | 0.0% |
| Germany | 1.4 | 0.6 | 0.4 | 0.3 | -40.2% |
| Others | 0.8 | 1.4 | 5.0 | 0.8 | 0.0% |
| Total | 7.8 | 5.3 | 17.2 | 10.9 | 11.8% |
Top Suppliers of Formic Acid, Its Salts and Esters to Thailand in 2022:
- China (9.7K tons)
- Taiwan (Chinese) (0.5K tons)
- Germany (0.3K tons)
- Finland (0.2K tons)
Exports of Formic Acid, Its Salts and Esters in Thailand
For the fourth year in a row, Thailand recorded growth in overseas shipments of formic acid, its salts and esters, which increased by 53% to 4.8K tons in 2022. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 277%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, exports of formic acid, its salts and esters surged to $1.1M in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 65% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Formic Acid, Its Salts and Esters in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lao People's Democratic Republic | 3.7 | 267 | 401 | 921 | 529.1% |
| Myanmar | 161 | 91.0 | 295 | 82.0 | -20.1% |
| Others | 113 | 98.6 | 19.8 | 114 | 0.3% |
| Total | 278 | 457 | 716 | 1,117 | 59.0% |
Top Export Markets for Formic Acid, Its Salts and Esters from Thailand in 2022:
- Lao People's Democratic Republic (4.6K tons)
- Myanmar (0.1K tons)
This report provides an in-depth analysis of the market for formic acid, its salts and esters in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143250 - Formic acid, its salts and esters
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
267
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