Thailand: Market for Iron Or Steel Liquid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Liquid Fuel Domestic Appliances in Thailand

After two years of growth, the Thai metal liquid fuel appliances market decreased by -33.8% to $X in 2022. In general, consumption recorded a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Iron Or Steel Liquid Fuel Domestic Appliances in Thailand

In value terms, metal liquid fuel appliances production expanded slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 70%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

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Exports of Iron Or Steel Liquid Fuel Domestic Appliances

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of iron or steel liquid fuel domestic appliances, when their volume decreased by -43.7% to X units. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 1,127% against the previous year. As a result, the exports attained the peak of X units, and then contracted markedly in the following year.

In value terms, metal liquid fuel appliances exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,179%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X units) was the main destination for metal liquid fuel appliances exports from Thailand, accounting for a 85% share of total exports. Moreover, metal liquid fuel appliances exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold. The third position in this ranking was held by Australia (X units), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +143.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+11.0% per year) and Australia (-63.5% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel liquid fuel domestic appliances exports from Thailand, comprising 80% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 9.8% share of total exports. It was followed by Australia, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +115.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+164.7% per year) and Australia (+46.9% per year).

Export Prices by Country

In 2022, the average metal liquid fuel appliances export price amounted to $X per unit, surging by 65% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2013 an increase of 1,562%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+302.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron Or Steel Liquid Fuel Domestic Appliances

Imports into Thailand

For the third year in a row, Thailand recorded growth in overseas purchases of iron or steel liquid fuel domestic appliances, which increased by 148% to X units in 2022. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 726% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, metal liquid fuel appliances imports skyrocketed to $X in 2022. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2016 with an increase of 433%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main metal liquid fuel appliances supplier to Thailand, accounting for a 97% share of total imports. It was followed by South Korea (X units), with a 2% share of total imports. Italy (X units) ranked third in terms of total imports with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+63.6% per year) and Italy (-48.0% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel liquid fuel domestic appliances to Thailand, comprising 79% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.3% share of total imports. It was followed by South Korea, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.0% per year) and South Korea (+26.9% per year).

Import Prices by Country

The average metal liquid fuel appliances import price stood at $X per unit in 2022, falling by -9.2% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 336%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+90.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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