Thailand: Zinc Market 2024

Zinc Market Size in Thailand

The Thai zinc market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption saw a strong increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Zinc Production in Thailand

In value terms, zinc production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.0% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 49%. Zinc production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports from Thailand

In 2021, approx. X tons of zinc were exported from Thailand; with a decrease of -31.6% on 2020. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2020 when exports increased by 72% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, zinc exports fell to $X in 2021. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 37%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for zinc exports from Thailand, with a 42% share of total exports. Moreover, zinc exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-17.6% per year) and Japan (+37.4% per year).

In value terms, the largest markets for zinc exported from Thailand were China ($X), Indonesia ($X) and Vietnam ($X), together comprising 66% of total exports.

In terms of the main countries of destination, China, with a CAGR of +40.5%, 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 zinc export price amounted to $X per ton, growing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Thailand

In 2021, supplies from abroad of zinc increased by 25% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 88% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, zinc imports soared to $X in 2021. In general, imports recorded significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 114%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), South Korea (X tons) and India (X tons) were the main suppliers of zinc imports to Thailand, together comprising 57% of total imports. Australia, Peru, Canada and the United Arab Emirates lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +208.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and India ($X) constituted the largest zinc suppliers to Thailand, together comprising 57% of total imports. These countries were followed by Australia, Peru, Canada and the United Arab Emirates, which together accounted for a further 33%.

The United Arab Emirates, with a CAGR of +201.5%, saw the highest growth rate of 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 zinc import price stood at $X per ton in 2021, rising by 23% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 37%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Australia ($X per ton), while the price for the United Arab Emirates ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :