The import of Hydrogen Fluoride (Hydrofluoric Acid) to Thailand stood at $18.007 million in 2023, reflecting a steady increase from previous years. The year-on-year variation showed a 5.22% increase from 2022 to 2023. Over the last two years, the CAGR (Compound Annual Growth Rate) was 4.72%, indicating a moderate upward trend.
Looking over a longer period, the import value experienced significant fluctuations. For instance, there was a notable 73.07% increase in 2016 and a 64.61% rise in 2017. However, the trend stabilized somewhat in recent years, with more modest yearly changes. The CAGR over the last 5 years (2018-2023) was 7.41%, showcasing consistent growth.
Future import forecasts suggest a continuation of this upward trajectory at an expected CAGR of 3.61% from 2023 to 2028, predicting a growth rate of 19.39% over five years, reaching $22.669 million by 2028.
Future trends to watch for:
- Market demand fluctuations driven by industrial needs and technological advancements.
- Potential impact of regulatory changes and environmental policies on import volumes.
- Exchange rate movements which could affect international trade dynamics.
- Emerging competitive pressures from alternative compounds or suppliers.