Based on the provided data, the import value of worked industrial diamonds to Thailand is forecasted to decrease significantly from 2024 to 2028. Starting from $1.886 million in 2024, it is expected to drop to $0.3859 million by 2028. The year-on-year percentage variations reflect a steady decline: a 20.5% drop from 2024 to 2025, a 25.3% decrease from 2025 to 2026, a further 33.1% drop from 2026 to 2027, and finally a drastic 48.5% decrease from 2027 to 2028.
In terms of compound annual growth rate (CAGR), the average yearly decline over these five years stands at approximately 31.6%. This downward trend suggests a continual declining demand or possible shifts in market dynamics for industrial diamonds in Thailand.
Future trends to watch for:
- Technological advancements reducing the need for imported worked industrial diamonds.
- Changes in pricing or availability of alternatives to worked industrial diamonds.
- Economic and industrial shifts within Thailand potentially influencing demand.
- Global market trends impacting supply chains and trade policies.
