Vietnam: Market for Button Blanks & Button Moulds 2024

Market Size for Button Blanks & Button Moulds in Vietnam

After two years of growth, the Vietnamese button blanks and moulds market decreased by -30.7% to $X in 2022. Overall, consumption, however, posted a mild expansion. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Production of Button Blanks & Button Moulds in Vietnam

In value terms, button blanks and moulds production stood at $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 50%. Button blanks and moulds production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Button Blanks & Button Moulds

Exports from Vietnam

In 2022, overseas shipments of button blanks & button moulds increased by 10% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed perceptible growth. The growth pace was the most rapid in 2015 when exports increased by 62% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, button blanks and moulds exports stood at $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 46% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for button blanks and moulds exports from Vietnam, accounting for a 54% share of total exports. Moreover, button blanks and moulds exports to Italy exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was taken by the Philippines (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+2.9% per year) and the Philippines (+43.5% per year).

In value terms, Italy ($X) emerged as the key foreign market for button blanks & button moulds exports from Vietnam, comprising 47% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by the Philippines, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.7% per year) and the Philippines (+43.3% per year).

Export Prices by Country

In 2022, the average button blanks and moulds export price amounted to $X per ton, which is down by -6.3% against the previous year. Overall, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2019 an increase of 5.6% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 South Korea (+2.8%), while the prices for the other major destinations experienced a decline.

Imports of Button Blanks & Button Moulds

Imports into Vietnam

In 2022, approx. X tons of button blanks & button moulds were imported into Vietnam; waning by -37% on the previous year's figure. Over the period under review, imports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2021 when imports increased by 272% against the previous year. As a result, imports reached the peak of X tons, and then declined significantly in the following year.

In value terms, button blanks and moulds imports declined dramatically to $X in 2022. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 329% against the previous year. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

South Korea (X tons), India (X tons) and China (X tons) were the main suppliers of button blanks and moulds imports to Vietnam, together comprising 67% of total imports. Fiji, Taiwan (Chinese), Hong Kong SAR, Indonesia and Japan lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +13.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Korea ($X) and China ($X) appeared to be the largest button blanks and moulds suppliers to Vietnam, with a combined 75% share of total imports.

Among the main suppliers, India, with a CAGR of +29.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average button blanks and moulds import price amounted to $X per ton, declining by -2.1% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, button blanks and moulds import price increased by +74.6% against 2016 indices. The pace of growth appeared the most rapid in 2018 an increase of 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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