Vietnam: Cyclohexanone And Methylcyclohexanones Market 2024

Cyclohexanone And Methylcyclohexanones Market Size in Vietnam

After two years of decline, the Vietnamese cyclohexanone and methylcyclohexanones market increased by 21% to $X in 2021. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.6% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Cyclohexanone And Methylcyclohexanones Exports

Exports from Vietnam

In 2021, shipments abroad of cyclohexanone and methylcyclohexanones decreased by -22.9% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 5,092%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, cyclohexanone and methylcyclohexanones exports fell notably to $X in 2021. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 7,948%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons), New Zealand (X tons) and Thailand (X tons) were the main destinations of cyclohexanone and methylcyclohexanones exports from Vietnam, together accounting for 96% of total exports. These countries were followed by Myanmar, which accounted for a further 3.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +136.4%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for cyclohexanone and methylcyclohexanones exports from Vietnam, comprising 72% of total exports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total exports. It was followed by New Zealand, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia totaled +53.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (0.0% per year) and New Zealand (0.0% per year).

Export Prices by Country

In 2021, the average cyclohexanone and methylcyclohexanones export price amounted to $X per ton, which is down by -24.7% against the previous year. Overall, the export price, however, showed a notable expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 92% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to New Zealand ($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 (+90.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclohexanone And Methylcyclohexanones Imports

Imports into Vietnam

For the third year in a row, Vietnam recorded decline in overseas purchases of cyclohexanone and methylcyclohexanones, which decreased by -6.5% to X tons in 2021. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 when imports increased by 92% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, cyclohexanone and methylcyclohexanones imports surged to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest cyclohexanone and methylcyclohexanones supplier to Vietnam, with a 68% share of total imports. Moreover, cyclohexanone and methylcyclohexanones imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.6% per year) and Japan (+62.3% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of cyclohexanone and methylcyclohexanones to Vietnam, comprising 69% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Japan, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.3% per year) and Japan (+46.9% per year).

Import Prices by Country

In 2021, the average cyclohexanone and methylcyclohexanones import price amounted to $X per ton, rising by 62% against the previous year. In general, the import price, however, showed a slight decline. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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