
Thailand - Abrasives (Natural) - Market Analysis, Forecast, Size, Trends and Insights
Thailand: Abrasives Market 2023
Abrasives Market Size in Thailand
The Thai abrasives market soared to $X in 2021, picking up by 62% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.
Abrasives Exports
Exports from Thailand
In 2021, overseas shipments of abrasives (natural) decreased by -70.7% to X tons, falling for the third consecutive year after two years of growth. In general, exports recorded a significant contraction. The most prominent rate of growth was recorded in 2017 with an increase of 1,378% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.
In value terms, abrasives exports reduced markedly to $X in 2021. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 1,025% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.
Exports by Country
Lao People's Democratic Republic (X tons) was the main destination for abrasives exports from Thailand, with a 53% share of total exports. Moreover, abrasives exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The Philippines (X tons) ranked third in terms of total exports with a 14% share.
From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic totaled -13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+58.5% per year) and the Philippines (+182.0% per year).
In value terms, the United Arab Emirates ($X) emerged as the key foreign market for abrasives (natural) exports from Thailand, comprising 69% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 20% share of total exports. It was followed by the Philippines, with a 7.1% share.
From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +37.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-10.7% per year) and the Philippines (+171.3% per year).
Export Prices by Country
In 2021, the average abrasives export price amounted to $X per ton, increasing by 183% against the previous year. In general, the export price showed a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Hong Kong SAR ($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 Ukraine (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.
Abrasives Imports
Imports into Thailand
In 2021, approx. X tons of abrasives (natural) were imported into Thailand; with an increase of 60% compared with 2020. Overall, imports continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 83% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.
In value terms, abrasives imports skyrocketed to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.
Imports by Country
In 2021, Indonesia (X tons) constituted the largest supplier of abrasives to Thailand, with a 41% share of total imports. Moreover, abrasives imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Japan (X tons), with an 18% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.9% per year) and Japan (-1.1% per year).
In value terms, the largest abrasives suppliers to Thailand were Japan ($X), Indonesia ($X) and India ($X), together accounting for 65% of total imports. China, the United States, Australia and Turkey lagged somewhat behind, together comprising a further 29%.
In terms of the main suppliers, the United States, with a CAGR of +22.6%, 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
The average abrasives import price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the abrasives market 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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