Reference
·Primary source
Thai chemical and petrochemical sector revenue (2020-2024)
~THB 1.6T (2024)
Thailand's chemical and petrochemical sector recorded an estimated THB 1.55-1.65 trillion (~USD 44-47B) in gross sector revenue in 2024 per the Department of Industrial Works (DIW), Federation of Thai Industries (FTI) Petrochemical Industry Club, and NESDC National Accounts. The series spiked through 2022 on energy-price-driven margin expansion, then de-rated 2023-2024 as cracker margins compressed under Chinese olefin oversupply. Map Ta Phut anchors roughly two thirds of sector output, with PTTGC (SET:PTTGC), IRPC (SET:IRPC), Thai Oil (SET:TOP), SCG Chemicals (SCGC, SET:SCGP for packaging arm), and Indorama Ventures (SET:IVL) as the largest revenue contributors.
Figure in context
Thailand's chemical and petrochemical sector recorded an estimated THB 1.55-1.65 trillion (~USD 44-47B) in gross sector revenue in 2024 per the Department of Industrial Works (DIW), Federation of Thai Industries (FTI) Petrochemical Industry Club, and NESDC National Accounts. The series spiked through 2022 on energy-price-driven margin expansion, then de-rated 2023-2024 as cracker margins compressed under Chinese olefin oversupply. Map Ta Phut anchors roughly two thirds of sector output, with PTTGC (SET:PTTGC), IRPC (SET:IRPC), Thai Oil (SET:TOP), SCG Chemicals (SCGC, SET:SCGP for packaging arm), and Indorama Ventures (SET:IVL) as the largest revenue contributors.
Interpretation notes
What this tells you
Thailand's chemical and petrochemical sector recorded an estimated THB 1.55-1.65 trillion (~USD 44-47B) in gross sector revenue in 2024 per the Department of Industrial Works (DIW), Federation of Thai Industries (FTI) Petrochemical Industry Club, and NESDC National Accounts. The series spiked through 2022 on energy-price-driven margin expansion, then de-rated 2023-2024 as cracker margins compressed under Chinese olefin oversupply. Map Ta Phut anchors roughly two thirds of sector output, with PTTGC (SET:PTTGC), IRPC (SET:IRPC), Thai Oil (SET:TOP), SCG Chemicals (SCGC, SET:SCGP for packaging arm), and Indorama Ventures (SET:IVL) as the largest revenue contributors.
What not to do with it
Values in THB trillions. Sector revenue is sensitive to naphtha and natural gas feedstock prices; 2022 spike reflects post-COVID demand and Russia-Ukraine energy shock.
Related figures
Adjacent numbers that add context without drowning the value.
PTT Global Chemical (PTTGC) revenue (2020-2024)
PTTGC, SET annual filings, Allnex acquisition disclosures
Indorama Ventures (IVL) EBITDA (2020-2024)
Indorama Ventures, IVL quarterly earnings releases, Bloomberg Intelligence chemicals coverage
Thai ethylene cracker capacity utilisation (2020-2024)
S&P Global Chemicals / IHS Markit, PTTGC and SCGC quarterly operating reports, Petrochemicals Asia
China ethylene capacity at structural closure risk
S&P Global Chemicals, IHS Markit Olefins Outlook, PTTGC FY2024 investor presentation, SCGC FY2024 deck
EU CBAM Phase 2 Thai polymer exposure
European Commission CBAM regulation EU 2023/956, Thai Customs export statistics, IVL/PTTGC/SCGC investor disclosures, FTI Petrochemical Industry Club
SCGC Long Son Petrochemicals (LSP) Vietnam operating loss
SCG, SCGC investor presentation, Bangkok Post petrochemical coverage
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