Thailand Rubber Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on Thailand Rubber Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Introduction to Thailand Rubber Industry
Rubber is an essential commodity; it has become an integral part of our daily lives regardless of our profession. As such, the global rubber market continues to expand in 2018, as research shows that global natural rubber production increased by 1.1% compared to the same period last year to 12.4 million tons in 2016, while rubber consumption increased by 3.8%. On an annualized basis, compared to the same period last year, it was 12.6 million tons, indicating a gap of 200 thousand tons between the demand and supply of rubber. This growth can be attributed to an increase in the output of rubber of a small Southeast Asian country, Thailand.
In 2017, Thailand was the world’s leading natural rubber exporting country, exporting a 36.2 percent share of the natural rubber exported worldwide, based on export value. This goes to show just how important the rubber is to the country. Rubber is one of Thailand’s most significant agricultural exporting industries. As of present, Thailand was the world’s highest producer as well. Its another famous export, rice, is eclipsed by rubber, which brings in more income to the GDP. The major driver regarding the production are a million small-scale farmers which contribute heavily to the booming business. The increase in demand for rubber is key to driving more input from the country. Rubber has many uses, is required in the manufacturing of many industrial and consumer products, such as tires, gloves, elastics, and hoses to name just a few important applications. Thailand is blessed with a tropical climate, and coupled with advanced cultivation methods, results in an ideal region to grow rubber in. Tires are the main product for domestic consumption. A strong manufacturing sector enables Thailand to produce various value-added products of rubber, which helps in generating a good chunk of revenue.
Rubber is mainly divided into natural and synthetic kind. Thailand’s expertise lies in producing natural rubber. It forms the bulk of the production, consumption, and export. Its synthetic rubber production is less than the demand, and so it has to import for domestic use. This provides a high potential for producers of synthetic rubber to make a mark on that market. Rubber is also heavily used in the petrochemical industry and many international companies like Dow, JBE, SCG and UBE Group have picked the country to be its manufacturing base.
The northern region is home to a majority of plantations. They have to be large in size, but more than a million small-scale ones have contributed immensely to the booming business. A Rubber City in the southern region has been given a go-ahead to be established, serving as a hub for all rubber products. Its location is a competitive advantage as it is home to many of the country’s latex plantations, accounting for over 70% of the supply of national gross latex. This location also has the infrastructure needed to support businesses regarding exports such as inland waterways and airports.
The top rubber companies in Thailand are IR Bangkok Thailand, K.S.Machukil, Rondex Thailand, Bangkok Synthetics, Union Pioneer, Sri Trang Agro-Industry and Longtex Rubber. Prominent synthetic producers include Siam Fukoku, United Asphalt, and BRT Elastomer.
Major Trade Partners
The largest countries are China, Malaysia, Europe, Japan, and South Korea.
The report contains a comprehensive analysis on:
- Thailand Rubber Industry Segments
- Thailand Rubber Industry Drivers, Restraints and Opportunities
- Thailand Rubber Industry Size & Forecast 2016 to 2023
- Supply & Demand Value Chain
- Thailand Rubber Industry Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage