Thailand: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Thailand

The Thai iron oxide pigment market contracted slightly to $X in 2022, waning by X% against the previous year. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Iron Oxide Pigment Production in Thailand

In value terms, iron oxide pigment production dropped to $X in 2022 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

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Iron Oxide Pigment Exports

Exports from Thailand

In 2022, exports of iron oxide pigments from Thailand declined notably to X tons, with a decrease of X% compared with the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, iron oxide pigment exports skyrocketed to $X in 2022. Over the period under review, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Japan (X tons) and Australia (X tons) were the main destinations of iron oxide pigment exports from Thailand, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron oxide pigment exported from Thailand were China ($X), Japan ($X) and Myanmar ($X), with a combined X% share of total exports. Vietnam, Australia and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Australia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a noticeable descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

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

Iron Oxide Pigment Imports

Imports into Thailand

After two years of growth, supplies from abroad of iron oxide pigments decreased by X% to X tons in 2022. Overall, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, iron oxide pigment imports rose markedly to $X in 2022. Over the period under review, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron oxide pigment to Thailand, with a X% share of total imports. Moreover, iron oxide pigment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of iron oxide pigments to Thailand, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with an X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average iron oxide pigment import price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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