The Federation of Thai Industries (F.T.I.) disclosed the outlook for 15 Thai industries in 2020 analysis; see your industry is on recovering or steady or decelerating.

Recovering Industries:

Automotive market should recover from tourism and the government’s measures to help low-income people. But we still have to monitor the trade war situation and the value of the baht.

Petrochemicals will slightly improve. It is expected that China and the United States will reach an agreement in phase 1 of trade negotiations.  OPEC production controlling measures will keep the oil price stay about the same, not dropping so much.

Gems and jewelry have a good potential, especially in the Indian and US markets, including unwrought gold in Switzerland, Singapore and Australia.

Food exports will increase by 2 percent, but there is still a risk of high competition in the sugar market, baht appreciation, and livestock diseases. 

Cosmetics is growing from the trend that consumers focus on maintaining health and beauty.

Furniture has the opportunity to export to the CLMV market and grow in accordance with real estate projects in the EEC area and adjusting the marketing strategy to gain more customer groups in the secondary provinces.

Cement has a good trend from the acceleration of basic infrastructure projects and the development of the EEC area along with the potentially increasing needs from neighbouring countries.

Steady Industries:

Electronics and telecommunications are facing the uncertainty of the trade war, the decelerating global economy and the appreciation of the baht.

Plastic products are affected by oil price fluctuation and the current campaign to reduce plastic use.

Automotive parts and spare parts are affected by the concern about converting the use of internal combustion engines into electric cars. So, the use of automotive parts will be reduced by more than 3,000.

Textile and Apparel could be steady due to the uncertain economy of partners and the appreciation of the baht.

Rubber products are facing a trade war and the shrinking demand for the world rubber and the appreciation of the baht. The rubber prices are highly volatile and sensitive.

Decelerating Industries:

Steel is facing the uncertainty of the trade war, the decelerating global economy and the appreciation of the baht. In addition, steel will slow down according to the global steel demands, unfair competition from foreign countries and the continuous slowdown of the industries such as vehicles, electronics, etc.

Chemicals are facing the uncertainty of the trade war, the decelerating global economy and the appreciation of the baht.

Leather products are facing the consumer’s decreased purchasing power. However, entrepreneurs may benefit from the reduced raw material costs.