Thailand: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Thailand

The Thai zirconium ore and concentrate market contracted significantly to $X in 2023, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a noticeable setback. Zirconium ore and concentrate consumption peaked at $X in 2015; however, from 2016 to 2023, consumption stood at a somewhat lower figure.

Exports of Zirconium Ores and Concentrates

Exports from Thailand

In 2023, approx. X tons of zirconium ores and concentrates were exported from Thailand; with a decrease of X% compared with the year before. Over the period under review, exports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, zirconium ore and concentrate exports reduced dramatically to $X in 2023. In general, exports saw a pronounced reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons), India (X tons) and Japan (X tons) were the main destinations of zirconium ore and concentrate exports from Thailand, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for zirconium ores and concentrates exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2023, the average annual growth rate of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

The average zirconium ore and concentrate export price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

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Imports of Zirconium Ores and Concentrates

Imports into Thailand

In 2023, the amount of zirconium ores and concentrates imported into Thailand expanded markedly to X tons, picking up by X% against the previous year. Over the period under review, imports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports surged to $X in 2023. In general, imports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Australia (X tons) were the main suppliers of zirconium ore and concentrate imports to Thailand, together comprising X% of total imports. South Africa, Vietnam, China and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zirconium ore and concentrate suppliers to Thailand were Malaysia ($X), Indonesia ($X) and Australia ($X), together comprising X% of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average zirconium ore and concentrate import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price recorded perceptible growth. The most prominent rate of growth was recorded in 2022 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform