Thailand: Wood Milling Machine Market 2022

Wood Milling Machine Market Size in Thailand

After two years of decline, the Thai wood milling machine market increased by 43% to $X in 2021. Over the period under review, consumption, however, continues to indicate a deep slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Wood Milling Machine Exports

Exports from Thailand

In 2021, approx. X units of planing, milling or moulding machines were exported from Thailand; shrinking by -5.4% against 2020 figures. In general, exports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 61% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood milling machine exports declined notably to $X in 2021. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 81% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X units), Myanmar (X units) and the United States (X units) were the main destinations of wood milling machine exports from Thailand, with a combined 73% share of total exports.

From 2012 to 2021, the biggest increases were in Myanmar (with a CAGR of +77.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Singapore ($X) and Japan ($X) were the largest markets for wood milling machine exported from Thailand worldwide, with a combined 80% share of total exports. Myanmar, Malaysia, Vietnam, Lao People's Democratic Republic, China and Congo lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Myanmar, with a CAGR of +45.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wood milling machine export price amounted to $X per unit, shrinking by -17% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 48%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Congo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Milling Machine Imports

Imports into Thailand

In 2021, purchases abroad of planing, milling or moulding machines increased by 39% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a abrupt contraction. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wood milling machine imports surged to $X in 2021. In general, imports, however, continue to indicate a drastic downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest wood milling machine supplier to Thailand, with a 62% share of total imports. Moreover, wood milling machine imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sevenfold. The third position in this ranking was held by Japan (X units), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+27.2% per year) and Japan (-23.0% per year).

In value terms, China ($X) constituted the largest supplier of wood milling machine to Thailand, comprising 55% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Singapore, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-8.9% per year) and Singapore (+23.2% per year).

Import Prices by Country

The average wood milling machine import price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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