The export value of ammonia from Thailand stood at 1,730.0 Thousand US Dollars in 2023. Year-on-year variations over the last two years show positive trends with a 4.58% increase in 2022 and a 4.29% increase in 2023. Over the last five years, the compound annual growth rate (CAGR) was calculated at 5.5%. The forecasted data ahead suggests a steady upward trend, with an expected export value of 2,101.8 Thousand US Dollars by 2028, representing a forecast 5-year CAGR of 3.06% and an overall growth rate of 16.24%.
Looking at the historical data, the ammonia export from Thailand has experienced significant growth, marked by periods of both sharp increases and occasional declines. The notable spikes were in 2014 and 2021, with significant year-on-year increases of 60.82% and 26.39% respectively. While there was a notable dip in 2020 with a 12.63% decrease, the subsequent recovery has been positive.
Future trends to watch for include potential market expansion in Asia driven by industrial demand, fluctuations in global ammonia prices, and regulatory changes impacting the chemical industry. Innovation in production technology and environmental regulation could also influence future export performance.
