Natural latex in primary forms market in Thailand

Earlier Report Observations

From 2018 to 2023, the domestic market volume for natural latex in Thailand fluctuated between 3.5 and 4.3 million tons. It reached a peak of 4.3 million tons in 2019, then contracted over the following two years before recovering to 4 million tons by 2023.

Thailand cemented its role as the world's leading exporter in 2021, shipping over 1.1 million tons abroad. This export orientation meant production was often prioritized for global markets. By 2024, major industry developments included Continental's significant expansion of its tire plant capacity in Rayong and the Sri Trang Group's launch of a fully traceable natural rubber product, responding to global demand for sustainability.

The industry's structure continued to be shaped by a deep reliance on migrant labor for rubber tapping and exposure to supply chain risks inherent to Southeast Asian production, factors that influenced production stability throughout the period.

Production natural latex in primary forms in Thailand

In kind, 2017-2020, K t

Thailand was the world's leading producer of natural latex in primary forms from 2017 to 2020.

Top producers of natural latex in primary forms, 2017-2020

World map of production of natural latex in primary forms, 2017-2020

Thailand's production of natural latex in primary forms grew for the third year in a row. In 2020, the country produced 4,860 thousand tonnes, showing little change from the previous year. Over the 2017-2020 period, production increased by 7.9%, with an average annual growth rate of 2.6%.

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

In value, 2017-2020, M $ US

Thailand's production value of natural latex in primary forms rebounded after two years of decline. In 2020, output was valued at 5,395 million US dollars, a significant 12.4% increase from 2019. However, from 2017 to 2020, overall production value fell by 6.9%, equivalent to an annualized decrease of 2.3%. The lowest value was recorded in 2019 at 4,798 million US dollars, with the largest drop occurring in 2018 at 13.4%.

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

Exports natural latex in primary forms from Thailand

Exports in kind, K t

Export volumes showed an unstable trend during this period. The lowest point was in 2019 at 550 thousand tonnes, while the peak was in 2018 at 1,299 thousand tonnes, representing a 2.4-fold difference. In 2020, exports totaled 1,149 thousand tonnes, a substantial 108.7% year-over-year increase. The sharpest decline occurred in 2019, falling by 57.6%.

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

From 2017 to 2020, Malaysia and China together accounted for 97.3% of Thailand's natural latex exports by volume, with other countries making up a diverse but smaller share.

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

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

Exports in value, M $ US

Export values displayed volatility over the observed years. The minimum was in 2019 at 546 million US dollars, and the maximum in 2017, with a 2.8-fold variation between them. In 2020, exports amounted to 1,275 million US dollars, marking a strong 133.7% year-over-year improvement. The most significant decrease was in 2019, dropping by 59.7%.

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

Between 2017 and 2020, Malaysia and China dominated Thailand's export value structure for natural latex, while other countries contributed the remainder.

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

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

Imports natural latex in primary forms to Thailand

Imports in kind, K t

Thailand's imports of natural latex in primary forms rose for the second consecutive year. In 2020, imports reached 2 thousand tonnes, up 30.3% from the previous year. However, over the 2017-2020 period, imports decreased by 15.3%, or an annualized 5.4%. The lowest volume was in 2018 at 1 thousand tonnes, with the largest decline that year at 41.4%.

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

From 2017 to 2020, Malaysia (45.3% of import volume), Sri Lanka (20.1%), and Vietnam (4.5%) were the key sources for Thailand's natural latex imports, together accounting for 69.9% of total flows.

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

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

Imports in value, M $ US

Thailand's import value of natural latex in primary forms increased after two years of decline. In 2020, imports were valued at 2 million US dollars, a sharp 59.6% gain compared to 2019. Overall, from 2017 to 2020, import value fell by 32.4%, with an average annual decrease of 12.2%. The minimum was in 2019 at 2 million US dollars, and the largest drop was in 2018 at 47.7%.

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

Throughout 2017-2020, Malaysia (48.5% of import value), Sri Lanka (23.6%), and Vietnam (3.8%) remained the primary markets for Thailand's natural latex imports by value, jointly representing 75.9% of total flows.

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

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