Vietnam: Copper Wire Market 2024

Copper Wire Market Size in Vietnam

The Vietnamese copper wire market dropped rapidly to $X in 2021, shrinking by -18.7% against the previous year. Over the period under review, consumption showed a abrupt decrease. Copper wire consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Copper Wire Production in Vietnam

In value terms, copper wire production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep setback. The pace of growth was the most pronounced in 2020 when the production volume increased by 95%. Copper wire production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports from Vietnam

For the fourth year in a row, Vietnam recorded growth in overseas shipments of copper wire, which increased by 41% to X tons in 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 152% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, copper wire exports soared to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 135%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Thailand (X tons) was the main destination for copper wire exports from Vietnam, accounting for a 59% share of total exports. Moreover, copper wire exports to Thailand exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+46.8% per year) and the United States (+11.3% per year).

In value terms, Thailand ($X) remains the key foreign market for copper wire exports from Vietnam, comprising 59% of total exports. The second position in the ranking was held by China ($X), with a 28% share of total exports. It was followed by the United States, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+45.4% per year) and the United States (+9.4% per year).

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, rising by 40% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked 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 export markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Thailand ($X per ton), while the average price for exports to Germany ($X per ton) and the United States ($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 the Philippines (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports

Imports into Vietnam

In 2021, overseas purchases of copper wire increased by 15% to X tons, rising for the sixth year in a row after two years of decline. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, copper wire imports soared to $X in 2021. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 92% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

Thailand (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of copper wire imports to Vietnam, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +67.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Indonesia ($X) constituted the largest copper wire suppliers to Vietnam, with a combined 75% share of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +69.3%, 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

The average copper wire import price stood at $X per ton in 2021, with an increase of 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform