Vietnam: Dental Fitting Market 2024

Dental Fitting Market Size in Vietnam

The Vietnamese dental fitting market reduced modestly to $X in 2022, which is down by -4.1% against the previous year. In general, consumption showed a mild shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Dental Fitting Production in Vietnam

In value terms, dental fitting production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 37%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Dental Fitting Exports

Exports from Vietnam

In 2022, exports of dental fittings from Vietnam fell notably to X tons, with a decrease of -18.8% compared with 2021 figures. In general, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2014 when exports increased by 142% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, dental fitting exports reduced to $X in 2022. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 154%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for dental fitting exports from Vietnam, accounting for a 79% share of total exports. Moreover, dental fitting exports to the United States exceeded the volume sent to the second major destination, France (X kg), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +10.7%.

In value terms, the United States ($X) remains the key foreign market for dental fittings exports from Vietnam, comprising 95% of total exports. The second position in the ranking was taken by France ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.2% per year) and Bolivia (-69.6% per year).

Export Prices by Country

The average dental fitting export price stood at $X per kg in 2022, jumping by 17% against the previous year. Overall, the export price posted a prominent expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 96%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to France ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+809.6%), while the prices for the other major destinations experienced mixed trend patterns.

Dental Fitting Imports

Imports into Vietnam

In 2022, approx. X tons of dental fittings were imported into Vietnam; which is down by -13.6% on 2021. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 112%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, dental fitting imports dropped slightly to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 100% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Switzerland (X tons) and the United States (X tons) were the main suppliers of dental fitting imports to Vietnam, together accounting for 59% of total imports. France, Mexico, Italy, Germany and Singapore lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +95.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and Switzerland ($X) constituted the largest dental fitting suppliers to Vietnam, with a combined 63% share of total imports. Mexico, France, Germany, Singapore and Italy lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Mexico, with a CAGR of +144.6%, recorded 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 dental fitting import price amounted to $X per kg, picking up by 13% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dental fitting import price increased by +106.0% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 30%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+28.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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