Thailand: Platinum Market 2024

Platinum Market Size in Thailand

The Thai platinum market dropped slightly to $X in 2022, falling by X% against the previous year. Overall, consumption showed a mild descent. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Platinum Production in Thailand

In value terms, platinum production declined to $X in 2022 estimated in export price. In general, production continues to indicate a mild descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Platinum production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Platinum Exports

Exports from Thailand

In 2022, shipments abroad of platinum decreased by X% to X kg, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X kg. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, platinum exports shrank dramatically to $X in 2022. Over the period under review, exports, however, showed moderate growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined significantly in the following year.

Exports by Country

Germany (X kg), Canada (X kg) and Japan (X kg) were the main destinations of platinum exports from Thailand, together accounting for X% of total exports. The UK, Vietnam, Guatemala, Hong Kong SAR and the Netherlands lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X), Germany ($X) and the UK ($X) constituted the largest markets for platinum exported from Thailand worldwide, with a combined X% share of total exports. Vietnam, Hong Kong SAR, Canada, Guatemala and the Netherlands lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average platinum export price amounted to $X per kg, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per kg in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

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

Platinum Imports

Imports into Thailand

In 2022, platinum imports into Thailand reduced rapidly to X tons, shrinking by X% against 2021 figures. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, platinum imports reduced to $X in 2022. In general, imports showed a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X kg) constituted the largest platinum supplier to Thailand, with a X% share of total imports. Moreover, platinum imports from Japan exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X kg), fourfold. The third position in this ranking was held by Germany (X kg), with a X% share.

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

In value terms, Japan ($X) constituted the largest supplier of platinum to Thailand, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Germany (X% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, increasing by X% against the previous year. Over the period under review, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per kg in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per kg), while the price for the UK ($X per kg) was amongst the lowest.

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

Source: IndexBox Platform

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