Vietnam: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Vietnam

The Vietnamese market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X in 2021, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed resilient growth. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Vietnam

Exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Vietnam dropped remarkably to X tons in 2021, declining by -21.2% on the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 73% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) declined to $X in 2021. Overall, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 45% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Vietnam, together comprising 61% of total exports. Cambodia, Bangladesh, China and South Korea lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +55.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) were the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Vietnam worldwide, with a combined 62% share of total exports. These countries were followed by Cambodia, Bangladesh, China and South Korea, which together accounted for a further 30%.

In terms of the main countries of destination, Cambodia, with a CAGR of +41.2%, saw 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

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, surging by 13% against the previous year. Overall, the export price, however, continues to indicate a noticeable setback. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and China ($X per ton), while the average price for exports to Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.4%), while the prices for the other major destinations experienced a decline.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Vietnam

After nine years of growth, purchases abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -4.8% to X tons in 2021. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 26%. Over the period under review, imports of attained the peak figure at X tons in 2020, and then declined modestly in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 22%. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Vietnam, with a combined 53% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +27.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and South Korea ($X) were the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Vietnam, with a combined 53% share of total imports.

Malaysia, with a CAGR of +21.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, growing by 5.1% against the previous year. Over the period under review, the import price, however, showed a deep reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and China ($X per ton), while the price for Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform