Market research

Castor oil and fractions market in Thailand

$Castor oil and fractions market in Thailand$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for castor oil and fractions in Thailand increased from 22 731 tons in 2018 to a peak of 25 087 tons in 2019. After this high point, the market contracted over the following years, falling to 20 342 tons by 2023.

Domestic production remained between 4 900 and 5 700 tons annually, while imports, which constitute the bulk of supply, declined from 21 982 tons in 2018 to 16 704 tons in 2023, driving the overall reduction in market volume.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2023
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Thailand
  1. 5.1.1. Annual dynamics of production in Thailand in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Thailand in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Thailand in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Thailand by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Thailand in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Thailand by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Thailand, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Thailand by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Thailand in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Thailand by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Thailand in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Thailand by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Thailand, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Thailand by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Thailand in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Thailand by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Thailand in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Thailand by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Thailand, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Thailand by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Thailand in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Thailand by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Thailand in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Thailand by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Thailand, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Thailand by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production castor oil and fractions in Thailand

In kind, 2017-2020, t

From 2017 to 2020, Thailand ranked as the world's fifth-largest producer of castor oil and fractions.

Top producers of castor oil and fractions, 2017-2020

Source: SHEV.io

World map of production of castor oil and fractions, 2017-2020

Source: SHEV.io

Thailand's production of castor oil and fractions grew for the second year in a row in 2020, reaching 5 700 tonnes—a 5.6% increase compared to the previous year. However, over the 2017–2020 period, overall production fell by 16.2%, averaging an annual decline of 5.7%. The lowest production level was in 2018 at 4 900 tonnes, which also saw the sharpest drop of 27.9%. In contrast, 2019 recorded the largest increase at 10.2%.

Annual dynamics of production in Thailand in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(27.9%)	10.2%	5.6%	(5.7%)

Source: SHEV.io

In value, 2017-2020, K $ US

In 2020, the value of castor oil and fractions produced in Thailand was 8 035 thousand US dollars, down significantly by 17.9% from the year before. From 2017 to 2020, production value decreased by 25.7%, with a compound annual growth rate of -9.4%. The lowest value occurred in 2018 at 7 650 thousand US dollars, marking the steepest decline of 29.3%. The highest increase was in 2019 at 27.9%.

Annual dynamics of production in Thailand in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(29.3%)	27.9%	(17.9%)	(9.4%)

Source: SHEV.io

Exports castor oil and fractions from Thailand

Exports in kind, t

Export volumes showed considerable volatility from 2017 to 2020. The lowest point was in 2019 at 85 tonnes, which saw a 98.0% decline. In 2020, exports rebounded sharply to 3 534 tonnes, a dramatic increase of 4,070.2% year-over-year. The peak was in 2017, creating a 79-fold difference between the highest and lowest years.

Annual dynamics of product's exports from Thailand in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(38.1%)	(98.0%)	4 070.2%	(19.2%)

Source: SHEV.io

Between 2017 and 2020, China and Indonesia were the primary destinations for Thailand's castor oil and fractions exports, together accounting for 92.3% of total export volume, while other markets played a minor role.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Thailand in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

Export values were highly volatile during the 2017–2020 period. The lowest value was in 2019 at 154 thousand US dollars, with a 97.6% decline. In 2020, export value surged to 4 981 thousand US dollars, up 3,144.8% from the previous year. The peak in 2017 resulted in a 69-fold variation compared to the 2019 low.

Annual dynamics of product's exports from Thailand in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(39.2%)	(97.6%)	3 144.8%	(22.4%)

Source: SHEV.io

From 2017 to 2020, China and Indonesia dominated Thailand's castor oil and fractions exports in value terms, jointly representing 91.8% of total export value, with the remainder distributed among smaller markets.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Thailand in value, 2017-2020

Source: SHEV.io

Imports castor oil and fractions to Thailand

Imports in kind, t

After two years of decline, Thailand's imports of castor oil and fractions rose in 2020 to approximately 20 657 tonnes, a 4.5% increase from the previous year. Over the 2017–2020 period, imports decreased by 13.6%, with an annualized rate of -4.8%. The lowest volume was in 2019 at 19 771 tonnes, which also saw the largest decline of 10.1%.

Annual dynamics of product's imports to Thailand in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(8.1%)	(10.1%)	4.5%	(4.8%)

Source: SHEV.io

Between 2017 and 2020, India was the nearly exclusive source for Thailand's imports of castor oil and fractions in volume terms, accounting for 100.0% of total imports.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Thailand in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

In 2020, the value of Thailand's castor oil and fractions imports was 24 289 thousand US dollars, down sharply by 24.3% from the year before. From 2017 to 2020, import value fell by 32.3%, with an annualized decline of 12.2%. The largest increase occurred in 2019 at 4.3%.

Annual dynamics of product's imports to Thailand in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(14.1%)	4.3%	(24.3%)	(12.2%)

Source: SHEV.io

From 2017 to 2020, India was the sole significant supplier for Thailand's castor oil and fractions imports in value terms, holding a 100.0% share of total import flows.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Thailand in value, 2017-2020

Source: SHEV.io