Plastics industry companies have always been very optimistic about the Southeast Asian market. Due to factors such as land costs, many companies have moved production to Thailand, Vietnam, Indonesia and other countries. The advantage of Thailand is that the country has no foreign currency remittance restrictions for foreign companies, no export requirements, no localization requirements for raw materials, and no shareholding restrictions in manufacturing. However, the total value of plastics industry exports this year has dropped a lot from last year.
The plastics industry is another potential industry in Thailand. In addition to meeting domestic demand, it can also export to major trading partners such as Japan, the United States, Australia, Indonesia and China. In 2014, the export volume of plastic products with the Thai tariff number 3916-3926 was about 1.1 million tons, with a total value of 225.503 billion baht, an increase of 12.4% year-on-year.
Research shows that in 2015, the total value of Thailand's plastic products exports will shrink by 1.9% or decrease to 1200.20 billion baht in 2014, due to lower oil prices and weaker purchasing power of major trading markets, especially Japan, Indonesia and the Philippines, due to the economic slowdown. Plastic products that may shrink and have the greatest impact on the overall export of plastic products will be plastic sheets, sheets, films, foils, flat strips and plastic products for packaging goods, while office plastic products and plastic furniture are expected to achieve good growth. Thailand's recycled plastics industry will continue to grow in 2015. The main reason may be that more large domestic and overseas manufacturers invest in recycled plastics, which have extensive expertise and experience in plastic waste treatment, especially waste sorting.
It is expected that in the next 1-3 years, primary plastics production will be the main driving force for the Thai plastics industry, and high-tech plastic products or bio-plastics will be the main driving factors for the Thai plastics industry.
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