Vietnam: Camel-Back Strips Market 2024

Camel-Back Strips Market Size in Vietnam

The Vietnamese camel-back strips market soared to $X in 2021, growing by 24% against the previous year. Over the period under review, consumption posted a notable expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Camel-Back Strips Production in Vietnam

In value terms, camel-back strips production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 36%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Camel-Back Strips Exports

Exports from Vietnam

In 2021, camel-back strips exports from Vietnam contracted rapidly to X tons, shrinking by -33% against the previous year. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 798% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, camel-back strips exports declined notably to $X in 2021. Overall, exports saw a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 902% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Indonesia (X kg) were the main destinations of camel-back strips exports from Vietnam, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +21.9%), while the other leaders experienced a decline.

In value terms, South Korea ($X) remains the key foreign market for camel-back strips for retreading rubber tires exports from Vietnam, comprising 83% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea stood at -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+25.6% per year) and Indonesia (-31.1% per year).

Export Prices by Country

The average camel-back strips export price stood at $X per ton in 2021, rising by 20% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Camel-Back Strips Imports

Imports into Vietnam

In 2021, approx. X kg of camel-back strips for retreading rubber tires were imported into Vietnam; dropping by -81.7% against 2020. Over the period under review, imports recorded a sharp curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 1,090%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, camel-back strips imports shrank rapidly to $X in 2021. Overall, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 3,337%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) constituted the largest supplier of camel-back strips to Vietnam, with a 81% share of total imports. Moreover, camel-back strips imports from the United States exceeded the figures recorded by the second-largest supplier, China (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -40.7%.

In value terms, China ($X) constituted the largest supplier of camel-back strips for retreading rubber tires to Vietnam, comprising 32% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +73.8%.

Import Prices by Country

In 2021, the average camel-back strips import price amounted to $X per ton, dropping by -29.6% against the previous year. Overall, the import price, however, continues to indicate a significant increase. The pace of growth appeared the most rapid in 2013 an increase of 309% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then dropped notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.7%).

Source: IndexBox Platform

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