Market Size of Thailand Plastics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Plastic Market Analysis
The plastics market in Thailand is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19. The production of plastics was reduced due to disruptions in the supply chain. However, the sector has been recovering well since restrictions were lifted. The rise in the level of industrial activities is likely to positively impact the studied market.
- Over the short term, increasing usage of plastics in building and construction, and rising demand for food and beverage packaging, are some factors driving the market growth.
- On the flip side, stringent government regulations resulting in the plastic ban are expected to hinder market growth during the forecast period.
- Increasing investments in biodegradable plastics will likely create opportunities for the market in the coming years.
Thailand Plastic Industry Segmentation
Plastics are semi-synthetic or synthetic materials, with polymer as the vital ingredient. It is also defined as polymers having long carbon chains. Plastic has the capability of being molded or shaped generally by the application of pressure and heat. The raw materials used to produce plastics include cellulose, coal, natural gas, salt, crude oil, etc. The Thailand plastics market is segmented by type and application. By type, the market is segmented into traditional plastics, engineering plastics, and bioplastics. By application, the market is segmented into packaging, electrical and electronics, building and construction, automotive and transportation, furniture and bedding, and other applications. The report offers the market sizes and forecasts for each segment on the basis of value (USD million).
| Type | |||||||||
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| Bioplastics |
| Application | |
| Packaging | |
| Electrical and Electronics | |
| Building and Construction | |
| Automotive and Transportation | |
| Furniture and Bedding | |
| Other Applications |
Thailand Plastics Market Size Summary
The plastics market in Thailand is experiencing a recovery and is expected to grow steadily over the forecast period, driven by increased industrial activities and rising demand in sectors such as building and construction, as well as food and beverage packaging. Despite the challenges posed by stringent government regulations and plastic bans, the market is poised for growth due to the increasing investments in biodegradable plastics. The automotive industry, a significant consumer of engineering plastics, is also contributing to market expansion, with the demand for lightweight and high-performance materials that enhance fuel efficiency and reduce emissions. The presence of a robust automotive supply chain, with numerous companies and major players, further supports the market's growth prospects.
Polyethylene Terephthalate (PET) and polyolefins are among the most widely used materials in the plastic packaging industry, valued for their recyclability, strength, and versatility. The demand for PET is expected to rise, supported by initiatives from companies like Indorama Ventures, which is expanding its recycling operations to meet the needs of environmentally conscious consumers. The automotive sector's increasing reliance on engineering plastics for various components, coupled with the growth of electric vehicles, is anticipated to boost the demand for plastics in Thailand. The market is partially consolidated, with major players like Indorama Ventures, SCG Chemicals, and HMC Polymers leading the industry, further reinforcing the market's growth trajectory.
Thailand Plastics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Usage of Plastics in Building and Construction
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1.1.2 Rising Demand from Food and Beverage Packaging
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1.2 Restraints
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1.2.1 Stringent Government Regulations Resulting in Plastic Ban
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Traditional Plastics
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2.1.1.1 Polyethylene
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2.1.1.2 Polypropylene
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2.1.1.3 Polystyrene
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2.1.1.4 Polyvinyl Chloride
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2.1.2 Engineering Plastics
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2.1.2.1 Polyethylene Terephthalate (PET)
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2.1.2.2 Polyamides
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2.1.2.3 Polycarbonates
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2.1.2.4 Styrene Copolymers (ABS and SAN)
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2.1.2.5 Polybutylene Terephthalate (PBT)
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2.1.2.6 Polymethyl Methacrylate (PMMA)
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2.1.2.7 Other Engineering Plastics
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2.1.3 Bioplastics
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2.2 Application
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2.2.1 Packaging
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2.2.2 Electrical and Electronics
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2.2.3 Building and Construction
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2.2.4 Automotive and Transportation
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2.2.5 Furniture and Bedding
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2.2.6 Other Applications
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Thailand Plastics Market Size FAQs
What is the current Thailand Plastics Market size?
The Thailand Plastics Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Thailand Plastics Market?
Indorama Ventures Public Company Limited, SCG Chemicals Co., Ltd., INEOS Styrolution Group GmbH, THAI PLASTIC INDUSTRIES CO., LTD. and COVESTRO AG are the major companies operating in the Thailand Plastics Market.
