Thailand: Mineral Wool Market 2024

Mineral Wool Market Size in Thailand

The Thai mineral wool market fell slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, the total consumption indicated resilient growth 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. Mineral wool consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Mineral Wool Production in Thailand

In value terms, mineral wool production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Mineral wool production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Mineral Wool Exports

Exports from Thailand

For the third year in a row, Thailand recorded growth in overseas shipments of slag wool, rock wool and similar mineral wools and mixtures, which increased by X% to X tons in 2022. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, mineral wool exports surged to $X in 2022. In general, exports recorded a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for mineral wool exports from Thailand, with a X% share of total exports. Moreover, mineral wool exports to Vietnam exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Lao People's Democratic Republic (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Lao People's Democratic Republic (X% per year).

In value terms, Vietnam ($X) remains the key foreign market for slag wool, rock wool and similar mineral wools and mixtures exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Cambodia (X% per year).

Export Prices by Country

The average mineral wool export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Thailand

In 2022, imports of slag wool, rock wool and similar mineral wools and mixtures into Thailand fell dramatically to X tons, waning by X% compared with the previous year. Over the period under review, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, mineral wool imports declined to $X in 2022. In general, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mineral wool to Thailand, accounting for a X% share of total imports. Moreover, mineral wool imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, Japan ($X), China ($X) and Malaysia ($X) were the largest mineral wool suppliers to Thailand, together accounting for X% of total imports. The Netherlands, India, France and Vietnam lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mineral wool import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price 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, mineral wool import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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