Market Forecast By Type (Agrochemicals, Dyes and Pigments, Construction Chemicals, Specialty Polymers, Textile Chemicals, Base Ingredients, Surfactants, Others) And Competitive Landscape
Product Code: ETC251305 | Publication Date: Aug 2022 | Updated Date: May 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Thailand Chemicals market currently, in 2023, has witnessed an HHI of 1196, Which has decreased slightly as compared to the HHI of 1544 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Report Name | Thailand Chemicals Market |
Forecast Period | 2024-2030 |
CAGR | 5.9% |
Growing Sector | The Petrochemical sector and The Food & Chemical Industry |
Thailand Chemicals Market report thoroughly covers the market type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Thailand chemicals market is securing substantial growth, influenced by various factors such as the rising demand for chemicals in various industries, including agriculture, manufacturing, and healthcare. Chemicals play a crucial role in the production of various products and are essential for economic growth.
According to 6Wresearch, the Thailand Chemicals Market size is estimated to grow at a CAGR of 5.9% during the forecast period 2024-2030. The market is driven by several growing factors such as the country`s robust industrial sector relies heavily on chemicals for manufacturing processes. The growing industrialization and expansion of various industries, such as petrochemicals, agriculture, and pharmaceuticals, are contributing to the increasing demand for chemicals. Furthermore, Thailand`s strategic location as a hub for trade in Southeast Asia makes it an attractive destination for chemical manufacturers. Additionally, investments in research and development, coupled with the adoption of advanced technologies, are fostering innovation in the chemical sector. Additionally, some emerging trends are shaping the Thailand Chemicals Market growth, including the demand for agricultural chemicals has grown rapidly in recent times due to the rising demand for food. The country's prolonged dry spells and frequent monsoons have played a significant role in this trend, forcing businesses and agriculture players to look for innovative solutions that can help them manage weather-related challenges.
The Thai government has introduced various initiatives to drive growth and investment in the chemicals industry. The Thailand Board of Investment (BOI) has launched a scheme called the 'Smart Visa' to attract foreign talent to work in the targeted industries, including the chemical industry. This visa allows highly skilled professionals to stay and work in Thailand for up to four years and offers a range of benefits, including a tax exemption. Additionally, the Eastern Economic Corridor (EEC) initiative launched aims to create a world-class industrial zone, which would include the chemicals industry. The government has also extended a range of incentives, including tax holidays, to businesses setting up operations in the EEC.
The Thailand chemicals market is diverse, with numerous key players. Among them, PTT Chemical Public Company Limited holds a significant presence. This chemical conglomerate operates across various segments, including petrochemicals, speciality chemicals, and biochemicals. PTT Chemical is renowned for its extensive product portfolio, serving diverse industries such as automotive, agriculture, and healthcare.
Thailand chemicals industry is set to grow. The growth will be driven by factors such as increasing demand for speciality chemicals, rising investment in research and development, and the favourable regulatory environment. There are also emerging trends that are likely to shape the future of the chemicals industry in Thailand. One of these is the increasing demand for environmentally friendly products, which will result in a shift towards green chemistry and sustainable manufacturing. There is also a growing interest in digitalization and automation, which will lead to increased efficiency, productivity, and flexibility in the industry.
According to Dhaval, Research Manager, 6Wresearch, the speciality polymers segment is the only growing type in the Thailand chemicals market. This growth is due to the high demand for high-performance materials in the automotive and aerospace industries.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Chemicals Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Chemicals Market Revenues & Volume, 2020 & 2030F |
3.3 Thailand Chemicals Market - Industry Life Cycle |
3.4 Thailand Chemicals Market - Porter's Five Forces |
3.5 Thailand Chemicals Market Revenues & Volume Share, By Type, 2020 & 2030F |
4 Thailand Chemicals Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Chemicals Market Trends |
6 Thailand Chemicals Market, By Types |
6.1 Thailand Chemicals Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Thailand Chemicals Market Revenues & Volume, By Type, 2020 - 2030F |
6.1.3 Thailand Chemicals Market Revenues & Volume, By Agrochemicals, 2020 - 2030F |
6.1.4 Thailand Chemicals Market Revenues & Volume, By Dyes and Pigments, 2020 - 2030F |
6.1.5 Thailand Chemicals Market Revenues & Volume, By Construction Chemicals, 2020 - 2030F |
6.1.6 Thailand Chemicals Market Revenues & Volume, By Specialty Polymers, 2020 - 2030F |
6.1.7 Thailand Chemicals Market Revenues & Volume, By Textile Chemicals, 2020 - 2030F |
6.1.8 Thailand Chemicals Market Revenues & Volume, By Base Ingredients, 2020 - 2030F |
6.1.9 Thailand Chemicals Market Revenues & Volume, By Others, 2020 - 2030F |
6.1.10 Thailand Chemicals Market Revenues & Volume, By Others, 2020 - 2030F |
7 Thailand Chemicals Market Import-Export Trade Statistics |
7.1 Thailand Chemicals Market Export to Major Countries |
7.2 Thailand Chemicals Market Imports from Major Countries |
8 Thailand Chemicals Market Key Performance Indicators |
9 Thailand Chemicals Market - Opportunity Assessment |
9.1 Thailand Chemicals Market Opportunity Assessment, By Type, 2020 & 2030F |
10 Thailand Chemicals Market - Competitive Landscape |
10.1 Thailand Chemicals Market Revenue Share, By Companies, 2023 |
10.2 Thailand Chemicals Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |