Updated Dec 10, 2022 19:10

Clay Market in Thailand

Market Overview
The Thai clay market fell to $ in , waning by -% 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $ in 2015; however, from 2016 to , consumption remained at a lower figure.

In value terms, clay production reduced to $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2011 when the production volume increased by % against the previous year. Clay production peaked at $ in 2015; however, from 2016 to , production stood at a somewhat lower figure.


Consumption
After two years of decline, consumption of clays increased by % to tons in . The total consumption volume increased at an average annual rate of +% from 2007 to ; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, consumption reached the maximum volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.

The value of the clay market in Thailand rose slightly to $ in , with an increase of % 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). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.


Consumption by Type
Fireclay ( tons) constituted the product with the largest volume of consumption, accounting for % of total volume. Moreover, fireclay exceeded the figures recorded for the second-largest type, clays for construction and industrial use ( tons), fourfold. Bentonite ( tons) ranked third in terms of total consumption with a % share.

From 2007 to , the average annual growth rate of the volume of fireclay consumptions totaled +%. With regard to the other consumed products, the following average annual rates of growth were recorded: clays for construction and industrial use (-% per year) and bentonite (+% per year).

In value terms, fireclay ($) led the market, alone. The second position in the ranking was taken by kaolin and kaolinic clays ($). It was followed by clays for construction and industrial use.

From 2007 to , the average annual rate of growth in terms of the value of fireclay markets stood at +%. With regard to the other consumed products, the following average annual rates of growth were recorded: kaolin and kaolinic clays (-% per year) and clays for construction and industrial use (+% per year).


Market Forecast
Driven by increasing demand for clay in Thailand, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Thailand remains a net importer of clay; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.