Thailand: Toluene Market 2024

Toluene Market Size in Thailand

The Thai toluene market soared to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Toluene Production in Thailand

In value terms, toluene production totaled $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Toluene Exports

Exports from Thailand

After two years of growth, shipments abroad of toluene decreased by X% to X tons in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its volume 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. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, toluene exports fell to $X in 2022. Over the period under review, total exports indicated a measured expansion 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

India (X tons) was the main destination for toluene exports from Thailand, accounting for a X% share of total exports. Moreover, toluene exports to India exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, India ($X) remains the key foreign market for toluene exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

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

Export Prices by Country

In 2022, the average toluene export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Singapore ($X per ton), while the average price for exports to Malaysia ($X per ton) and Indonesia ($X per ton) were 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 a decline.

Toluene Imports

Imports into Thailand

In 2022, the amount of toluene imported into Thailand contracted remarkably to X tons, dropping by X% against the previous year's figure. Over the period under review, imports saw a precipitous curtailment. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, toluene imports dropped notably to $X in 2022. In general, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest toluene supplier to Thailand, accounting for a X% share of total imports. Moreover, toluene imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Japan (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 South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the largest toluene suppliers to Thailand were China ($X), Japan ($X) and Germany ($X), together accounting for X% of total imports. South Korea, the United States, France and the UK lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded 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

In 2022, the average toluene import price amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then declined dramatically in the following year.

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 China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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