In 2023, the import of polymers of propylene to Thailand stood at $438.47 million. Between 2022 and 2023, we observed a year-on-year rise of 0.9%. Over the last five years (2018-2023), the Compound Annual Growth Rate (CAGR) was 0.99%. Historically, the data reveals fluctuations, with notable decreases between 2013 and 2016, followed by some recovery and growth in the subsequent years.
Key variations over the last two years are highlighted by a growth of 6.24% in 2022 and a smaller increase of 0.9% in 2023.
Looking ahead, the forecast for 2028 suggests a moderate growth with a five-year CAGR of 0.73%, implying an overall growth rate of 3.71% from 2024 to 2028.
Future trends to watch for include:
- Global economic conditions impacting raw material costs
- Technological advancements in production and processing of polymers
- Environmental regulations and shifts towards sustainable alternatives
