Product Code: ETC041526 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Thailand Iron Castings Market is expected to register a CAGR of around 6.5% during the forecast period of 2025-2031. The country???s automotive industry, along with its industrialization and urbanization development projects, are primarily driving the market growth in the region. Moreover, strong economic performance of the country has also supported in increasing investments from foreign companies for expansion purposes that further facilitates technological advancements and enhances production capability. However, rising raw material prices due to high import costs is likely to impede market growth over the forecast period.
Thailand has become one of Asia???s leading automotive industries with several multinational companies investing heavily in it due to tax exemptions granted by government authorities under its Board Investment (BOI). This has increased demand for iron castings as these components help reduce weight and improve fuel efficiency while enhancing vehicle performance at lower cost compared to other metals used for manufacturing engine components like aluminum or steel alloys. Rising number of construction projects across residential as well as commercial sectors is creating an upsurge in demand for iron castings owing to their strength characteristics which enable them to withstand extreme temperatures and pressure conditions during operations making them suitable choice among manufacturers across various end-use industries such as transportation, power generation equipment etc..
As most countries have imposed strict regulations against importing certain commodities from abroad, this is leading to increase in costs related to import activities thus hampering profitability margins and thereby affecting overall market size especially that pertain towards small entrants who rely heavily on such imports from foreign suppliers but cannot afford these higher price points being charged by them thus hindering their progress within local markets.
The Thailand iron castings market has experienced a significant decline in demand due to the Covid-19 pandemic. The temporary closure of factories, disruption in supply chains and reduction in consumer spending have all contributed to the slowdown of production and sales.
Major players operating within the industry such as Thailand Foundry & Engineering Co., Ltd., Bangpla Foundry Co., Ltd., Hua Seng Hong Industries Co. Ltd., Rajburana Industry (1989) Co.Ltd, and Advance Iron Casting Factory Limited are among those affected by this crisis. These companies are currently focusing on cost minimization strategies, such as cutting back on production output and workforce layoffs, while also exploring potential opportunities for business growth post-Covid-19 recovery period.
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 Iron Castings Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Iron Castings Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Iron Castings Market - Industry Life Cycle |
3.4 Thailand Iron Castings Market - Porter's Five Forces |
3.5 Thailand Iron Castings Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Thailand Iron Castings Market Revenues & Volume Share, By End-User, 2021 & 2031F |
4 Thailand Iron Castings Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Iron Castings Market Trends |
6 Thailand Iron Castings Market, By Types |
6.1 Thailand Iron Castings Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Thailand Iron Castings Market Revenues & Volume, By Product, 2021-2031F |
6.1.3 Thailand Iron Castings Market Revenues & Volume, By Gray Iron, 2021-2031F |
6.1.4 Thailand Iron Castings Market Revenues & Volume, By Ductile Iron, 2021-2031F |
6.1.5 Thailand Iron Castings Market Revenues & Volume, By Malleable Iron, 2021-2031F |
6.2 Thailand Iron Castings Market, By End-User |
6.2.1 Overview and Analysis |
6.2.2 Thailand Iron Castings Market Revenues & Volume, By Automobile, 2021-2031F |
6.2.3 Thailand Iron Castings Market Revenues & Volume, By Industrial Machinery, 2021-2031F |
6.2.4 Thailand Iron Castings Market Revenues & Volume, By Infrastructure and Construction Machines, 2021-2031F |
6.2.5 Thailand Iron Castings Market Revenues & Volume, By Power, 2021-2031F |
6.2.6 Thailand Iron Castings Market Revenues & Volume, By Others, 2021-2031F |
7 Thailand Iron Castings Market Import-Export Trade Statistics |
7.1 Thailand Iron Castings Market Export to Major Countries |
7.2 Thailand Iron Castings Market Imports from Major Countries |
8 Thailand Iron Castings Market Key Performance Indicators |
9 Thailand Iron Castings Market - Opportunity Assessment |
9.1 Thailand Iron Castings Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Thailand Iron Castings Market Opportunity Assessment, By End-User, 2021 & 2031F |
10 Thailand Iron Castings Market - Competitive Landscape |
10.1 Thailand Iron Castings Market Revenue Share, By Companies, 2024 |
10.2 Thailand Iron Castings Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |