The import of tanning, dyeing extracts, tannins, and pigments to Thailand exhibited varying trends over the past decade. From 2013 to 2023, the annual import value fluctuated, with occasional declines but overall growth. The value stood at $1.6973 billion in 2023. Noteworthy changes include a significant drop in 2020 influenced by global disruptions and a strong rebound in 2021 with a 16.79% increase. The annual growth between 2021 and 2022 was 7.32%, and between 2022 and 2023, it was 1.88%. The 5-year CAGR leading up to 2023 averaged 1.79%.
Looking forward, the forecast period indicates continued growth, albeit at a moderate pace with a 5-year CAGR of 1.47% expected from 2024 to 2028. The import value is projected to reach $1.8564 billion by 2028, reflecting an overall growth rate of 7.55% over five years.
Future trends to watch for include potential market disruptions due to global economic changes, shifts in supply chain dynamics, advancements in pigment and dye technologies, and evolving environmental regulations impacting the industry.
