Waxes; Artificial, Prepared Price in Thailand - 2023
Contents:
- Waxes; Artificial, Prepared Price in Thailand (CIF) - 2022
- Waxes; Artificial, Prepared Price in Thailand (FOB) - 2023
- Waxes; Artificial, Prepared Imports in Thailand
- Waxes; Artificial, Prepared Exports in Thailand
Waxes; Artificial, Prepared Price in Thailand (CIF) - 2022
In 2022, the average waxes; artificial, prepared import price amounted to $3,326 per ton, rising by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($6,648 per ton), while the price for Iran ($1,272 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Waxes; Artificial, Prepared Price in Thailand (FOB) - 2023
In July 2023, the average waxes; artificial, prepared export price amounted to $1,561 per ton, remaining relatively unchanged against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 an increase of 16% month-to-month. As a result, the export price attained the peak level of $1,837 per ton. From February 2023 to July 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was the United States ($3,722 per ton), while the average price for exports to Lao People's Democratic Republic ($1,102 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.
Waxes; Artificial, Prepared Imports in Thailand
After three years of growth, purchases abroad of waxes; artificial, prepared decreased by -3% to 30K tons in 2022. The total import volume increased at an average annual rate of +10.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of 31K tons, and then contracted in the following year.
In value terms, waxes; artificial, prepared imports skyrocketed to $99M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +21.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Waxes; Artificial, Prepared in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.6 | 9.6 | 14.3 | 20.6 | 46.1% |
| Malaysia | 10.4 | 10.6 | 13.9 | 20.0 | 24.4% |
| Germany | 7.7 | 8.1 | 10.6 | 10.3 | 10.2% |
| Singapore | 5.0 | 5.0 | 7.2 | 9.2 | 22.5% |
| South Korea | 4.4 | 4.3 | 4.8 | 8.5 | 24.5% |
| Japan | 6.8 | 6.6 | 9.0 | 7.5 | 3.3% |
| United States | 4.5 | 4.5 | 5.3 | 7.5 | 18.6% |
| Netherlands | 2.6 | 2.3 | 4.3 | 2.9 | 3.7% |
| Indonesia | 0.4 | 0.7 | 1.2 | 2.1 | 73.8% |
| Vietnam | N/A | 0.8 | 1.1 | 1.7 | 45.8% |
| Taiwan (Chinese) | 1.5 | 1.2 | 1.2 | 1.5 | 0.0% |
| Iran | 0.4 | 0.2 | 0.8 | 0.5 | 7.7% |
| Saudi Arabia | 0.4 | 0.4 | 0.5 | 0.4 | 0.0% |
| Others | 5.2 | 5.2 | 6.8 | 6.6 | 8.3% |
| Total | 55.9 | 59.5 | 80.9 | 99.4 | 21.2% |
Top Suppliers of Waxes; Artificial, Prepared to Thailand in 2022:
- Malaysia (7.7K tons)
- China (7.0K tons)
- Singapore (2.9K tons)
- South Korea (2.5K tons)
- Germany (2.2K tons)
- Japan (1.5K tons)
- United States (1.1K tons)
- Indonesia (1.0K tons)
- Vietnam (0.6K tons)
- Netherlands (0.5K tons)
- Taiwan (Chinese) (0.5K tons)
- Iran (0.4K tons)
- Saudi Arabia (0.3K tons)
Waxes; Artificial, Prepared Exports in Thailand
In 2022, the amount of waxes; artificial, prepared exported from Thailand stood at 56K tons, with an increase of 4.9% against 2021 figures. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +16.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 30%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, waxes; artificial, prepared exports surged to $87M in 2022. The total export value increased at an average annual rate of +8.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Waxes; Artificial, Prepared in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 31.0 | 23.7 | 28.9 | 27.7 | -3.7% |
| Vietnam | 5.1 | 6.4 | 5.7 | 8.0 | 16.2% |
| Indonesia | 4.1 | 5.0 | 5.5 | 7.2 | 20.6% |
| Malaysia | 2.8 | 2.8 | 4.6 | 6.4 | 31.7% |
| India | 3.7 | 4.0 | 3.4 | 5.8 | 16.2% |
| United States | 2.7 | 3.1 | 3.5 | 4.1 | 14.9% |
| Taiwan (Chinese) | 1.8 | 2.1 | 2.2 | 4.0 | 30.5% |
| Japan | 2.0 | 1.6 | 1.9 | 2.8 | 11.9% |
| South Korea | 1.3 | 1.0 | 1.9 | 2.2 | 19.2% |
| Lao People's Democratic Republic | 1.0 | 0.8 | 1.3 | 1.9 | 23.9% |
| Spain | 1.0 | 1.0 | 0.6 | 1.9 | 23.9% |
| Australia | 0.9 | 0.9 | 1.3 | 1.8 | 26.0% |
| Cambodia | 1.6 | 1.5 | 1.6 | 1.0 | -14.5% |
| Others | 9.1 | 8.6 | 11.0 | 12.3 | 10.6% |
| Total | 68.3 | 62.6 | 73.4 | 87.1 | 8.4% |
Top Export Markets for Waxes; Artificial, Prepared from Thailand in 2022:
- China (20.7K tons)
- Vietnam (4.7K tons)
- Malaysia (4.4K tons)
- Indonesia (4.3K tons)
- India (3.1K tons)
- Taiwan (Chinese) (2.4K tons)
- Lao People's Democratic Republic (1.7K tons)
- Japan (1.6K tons)
- South Korea (1.5K tons)
- United States (1.3K tons)
- Spain (1.1K tons)
- Australia (1.0K tons)
- Cambodia (1.0K tons)
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