Vietnam: Market for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment 2024

Market Size for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Vietnam

The Vietnamese market for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment reduced to $X in 2022, declining by -7.5% against the previous year. Overall, consumption, however, enjoyed strong growth. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Vietnam

In value terms, production of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment shrank to $X in 2022 estimated in export price. Over the period under review, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 145% against the previous year. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Exports from Vietnam

Exports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment from Vietnam expanded rapidly to X tons in 2022, increasing by 7.1% against the year before. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 9,696%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment skyrocketed to $X in 2022. In general, exports saw temperate growth. The most prominent rate of growth was recorded in 2016 when exports increased by 14,783% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment from Vietnam, accounting for a 91% share of total exports. It was followed by Thailand (X kg), with a 2.3% share of total exports. Lao People's Democratic Republic (X kg) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+22.9% per year) and Lao People's Democratic Republic (-8.7% per year).

In value terms, Japan ($X) remains the key foreign market for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment exports from Vietnam, comprising 54% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+36.8% per year) and the United States (+32.7% per year).

Export Prices by Country

The average export price for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment stood at $X per ton in 2022, growing by 47% against the previous year. In general, the export price posted resilient growth. The pace of growth was the most pronounced in 2016 an increase of 52% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Japan ($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 Japan (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Imports into Vietnam

In 2022, approx. X tons of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment were imported into Vietnam; which is down by -25.3% against the previous year's figure. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 585%. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment fell significantly to $X in 2022. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 907% against the previous year. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

The Netherlands (X tons), Russia (X tons) and Germany (X tons) were the main suppliers of imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment to Vietnam, with a combined 57% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +105.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment to Vietnam, comprising 64% of total imports. The second position in the ranking was held by Germany ($X), with a 7.2% share of total imports. It was followed by Spain, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia totaled +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+43.7% per year) and Spain (+6.7% per year).

Import Prices by Country

The average import price for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment stood at $X per ton in 2022, falling by -26.4% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment increased by +30.2% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 47%. As a result, import price attained the peak level of $X per ton, and then shrank significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+18.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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