Thailand Plastics Market - Growth, Trends and Forecasts (2020 - 2025)

The market is segmented by Type (Traditional Plastics, Engineering Plastics, and Bioplastics), and Application (Packaging, Electrical & Electronics, Building & Construction, Automotive & Transportation, Furniture & Bedding, and Other Applications).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

Greater Than 4 %

Major Players:

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Market Overview

The Thailand plastics market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. Key factors driving the market growth include rapid use of plastic in building and construction.

  • Stringent government regulations resulting in plastic ban are expected to hinder the market growth during the forecast period.
  • The packaging application dominated the market and is expected to grow during the forecast period.

Scope of the Report

The Thailand plastics market report includes:

Type
Traditional Plastics
Polyethylene
Polypropylene
Polystyrene
Polyvinyl Chloride
Engineering Plastics
Polyethylene Terephthalate (PET)
Polyamides
Polycarbonates
Styrene Copolymers (ABS and SAN)
Polybutylene Terephthalate (PBT)
Polymethyl Methacrylate (PMMA)
Other Engineering Plastics
Bioplastics
Application
Packaging
Electrical and Electronics
Building and Construction
Automotive and Transportation
Furniture and Bedding
Other Applications

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Key Market Trends

Injection Molding Technology to Dominate the Market

  • Injection molding is mostly done using virgin or high-quality processing resins. High-performance plastic pallets are usually injection molded. Injection molding is a relatively capital-consuming process, but offers the advantage of high-speed processes.
  • Therefore, injection molding is found to be beneficial in the bulk production of plastic pallets. Injection molding processes are used in wire spools, packaging, bottle caps, automotive dashboards, pocket combs, etc.
  • The explosive growth of local automotive, packaging, and chemical processing industries, across the world, is expected to provide a favorable market for injection molding.
  • Owing to the advantageous geographical location of Thailand, with easy access to the rapidly growing Asia-Pacific end users, the consumption of injection molded plastic pallets is expected to increase drastically. However, China leads the market, and holds a competitive edge, thereby hindering the growth of the market to an extent.
  • Owing to the increasing demand from various end-user industries, the market for injection molding is projected to increase over the forecast period.

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Increasing Demand from Electrical and Electronics Industry

  • There are several applications of plastics in electrical and electronics, some of them include use of plastics in all forms of display products, audio devices, cables and wires, circuit breakers and switch gears, fuse boxes, switches and knobs, transformers, food processing units, electrical kettles, refrigerator, microwave grills, and numerous other electronic goods. Apart from safety, durability, and efficiency in electrical and electronics products, plastics provide resistivity from electrical sources and mechanical shocks.
  • Use of plastics in electronic products have been existing since the longest time. New innovations and continuous development of smaller circuit boards and components are taking place almost every day, and the demand for high-performance plastics is increasing, owing to the property of plastics to withstand stress in assembling operations. Plastics help in increasing the functionality of the circuit in use, while also contributing to the decreasing size of the circuit.
  • Electronic products, like HDD, monolithic IC, semiconductor, PCBA, and other IC, are registering a healthy growth.
  • This was primarily due to the increasing global demand for electronic products, such as ICs, which are essential components of advanced technology and are used in smartphones and tablets. In addition, semiconductors are being developed as components for smart devices and the focus is being given to smaller-sized and highly durable electronic components. Moreover, HDDs are developed for greater capacity, primarily for utilization in cloud storage.
  • With the increasing demand for computer accessories and components and electronics, the demand for plastics is expected to increase at a favorable rate.

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Competitive Landscape

The Thailand plastics market is partially consolidated in nature. The major companies include Indorama Ventures Public Company Limited, SCG Chemicals Co., Ltd., and INEOS Styrolution Group GmbH, among others.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapid Use of Plastic in Building and Construction

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Government Regulations Resulting in Plastic Ban

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Regulatory Policy Analysis

    6. 4.6 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Traditional Plastics

        1. 5.1.1.1 Polyethylene

        2. 5.1.1.2 Polypropylene

        3. 5.1.1.3 Polystyrene

        4. 5.1.1.4 Polyvinyl Chloride

      2. 5.1.2 Engineering Plastics

        1. 5.1.2.1 Polyethylene Terephthalate (PET)

        2. 5.1.2.2 Polyamides

        3. 5.1.2.3 Polycarbonates

        4. 5.1.2.4 Styrene Copolymers (ABS and SAN)

        5. 5.1.2.5 Polybutylene Terephthalate (PBT)

        6. 5.1.2.6 Polymethyl Methacrylate (PMMA)

        7. 5.1.2.7 Other Engineering Plastics

      3. 5.1.3 Bioplastics

    2. 5.2 Application

      1. 5.2.1 Packaging

      2. 5.2.2 Electrical and Electronics

      3. 5.2.3 Building and Construction

      4. 5.2.4 Automotive and Transportation

      5. 5.2.5 Furniture and Bedding

      6. 5.2.6 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Indorama Ventures Public Company Limited

      2. 6.4.2 Thai Plastic Industries Co. Ltd

      3. 6.4.3 SCG Chemicals Co., Ltd.

      4. 6.4.4 PTT Global Chemical Public Company Limited

      5. 6.4.5 Covestro AG

      6. 6.4.6 HMC Polymers Thailand

      7. 6.4.7 INEOS Styrolution Group GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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