Thailand: Abrasives Market 2022

Abrasives Market Size in Thailand

The Thai abrasives market skyrocketed to $X in 2021, with an increase of X% 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 recorded a relatively flat trend pattern. Abrasives consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Abrasives Exports

Exports from Thailand

For the fourth year in a row, Thailand recorded decline in shipments abroad of abrasives (natural), which decreased by -X% to X tons in 2021. Overall, exports faced a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, abrasives exports declined sharply to $X in 2021. In general, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained 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), Hong Kong SAR (X tons) and the Philippines (X tons) were the main destinations of abrasives exports from Thailand, together accounting for X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +X%), while the other leaders experienced mixed trend patterns.

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for abrasives exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

In 2021, the average abrasives export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Hong Kong SAR ($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 the Philippines (+X%), 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 X% against the previous year's figure. Overall, imports showed mild growth. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, abrasives imports skyrocketed to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked 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, accounting for a X% 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 X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and Japan (-X% per year).

In value terms, Japan ($X), Indonesia ($X) and India ($X) appeared to be the largest abrasives suppliers to Thailand, together comprising X% of total imports. China, the United States, Australia and Turkey lagged somewhat behind, together accounting for a further X the main suppliers, the United States, with a CAGR of +X%, saw 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, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average 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 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 (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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