Vietnam: Activated Carbon Market 2024

Activated Carbon Market Size in Vietnam

In 2022, the Vietnamese activated carbon market decreased by -3.9% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption continues to indicate a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Activated Carbon Production in Vietnam

In value terms, activated carbon production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Activated Carbon Exports

Exports from Vietnam

In 2022, exports of activated carbon from Vietnam declined modestly to X tons, with a decrease of -2.4% on 2021. In general, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 59%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, activated carbon exports contracted to $X in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Japan (X tons), China (X tons) and Indonesia (X tons) were the main destinations of activated carbon exports from Vietnam, together comprising 36% of total exports. Taiwan (Chinese), Russia, Sri Lanka, Australia, South Korea, Kazakhstan, the United States, Thailand, Germany and Turkey lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +47.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for activated carbon exported from Vietnam were Japan ($X), China ($X) and Indonesia ($X), with a combined 28% share of total exports. Taiwan (Chinese), Russia, Kazakhstan, Australia, Sri Lanka, South Korea, Turkey, the United States, Thailand and Germany lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, Turkey, with a CAGR of +54.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average activated carbon export price amounted to $X per ton, with a decrease of -7.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Activated Carbon Imports

Imports into Vietnam

In 2022, purchases abroad of activated carbon decreased by -9.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, activated carbon imports dropped to $X in 2022. Overall, imports, however, saw resilient growth. The growth pace was the most rapid in 2014 with an increase of 30%. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest activated carbon supplier to Vietnam, accounting for a 56% share of total imports. Moreover, activated carbon imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+17.2% per year) and Japan (+16.1% per year).

In value terms, China ($X) constituted the largest supplier of activated carbon to Vietnam, comprising 47% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+17.3% per year) and Japan (+14.3% per year).

Import Prices by Country

In 2022, the average activated carbon import price amounted to $X per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 41% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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