From 2013 to 2023, Thailand's import of Bitumen and Asphalt, Asphaltites, and Asphaltic Rocks exhibited considerable fluctuations in value. Notably, a dramatic surge occurred from 2013 to 2014, marked by a year-on-year growth of 156.25%, and a continued increase into 2015. However, significant declines ensued in 2016 and 2018, with a notable dip of 46.39% in 2018. The import value partially recovered between 2019 and 2023, with the latest value standing at 4.3146 million USD in 2023. Recent years have seen a more stable yet modest growth, reflected in single-digit year-on-year changes in 2022 and 2023. The 2023 value represents a pivotal reference for both volume and value analysis.
Given the historical data, the past five years depicted an average annual growth rate (CAGR) of 8.85%, suggesting a trend of recovery and stabilization after earlier fluctuations. Looking ahead, forecasted data from 2024 to 2028 indicate a positive outlook with an estimated CAGR of 2.23%, and a cumulative growth rate of 11.68% for the period.
Future trends to watch for:
- Potential impact of global oil prices on bitumen and asphalt imports.
- Policy changes related to infrastructure and construction in Thailand.
- Technological advancements in asphalt production and its derivatives.
- Environmental regulations influencing the use and import of bitumen and asphalt products.
