Thailand: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Thailand

In 2023, the Thai gum or wood oils market decreased by X% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, saw a noticeable slump. Gum or wood oils consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from Thailand

In 2023, overseas shipments of gum, wood or sulphate turpentine oils, pine oil and other alike increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate tangible growth. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, gum or wood oils exports fell to $X in 2023. Overall, exports, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of gum or wood oils exports from Thailand, with a combined X% share of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Myanmar ($X) and Lao People's Democratic Republic ($X) constituted the largest markets for gum or wood oils exported from Thailand worldwide, with a combined X% share of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average gum or wood oils export price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into Thailand

In 2023, supplies from abroad of gum, wood or sulphate turpentine oils, pine oil and other alike was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, gum or wood oils imports contracted modestly to $X in 2023. Overall, imports, however, recorded a mild downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of gum or wood oils imports to Thailand, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest gum or wood oils suppliers to Thailand were China ($X), the United States ($X) and Japan ($X), with a combined X% share of total imports.

In terms of 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 mixed trend patterns.

Import Prices by Country

The average gum or wood oils import price stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform