Vietnam: Direct Dye Market 2024

Direct Dye Market Size in Vietnam

The Vietnamese direct dye market surged to $X in 2021, picking up by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a buoyant increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Direct Dye Exports

Exports from Vietnam

In 2021, the amount of direct dyes and preparations based thereon exported from Vietnam shrank to X tons, which is down by -6.8% against the previous year. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2016 when exports increased by 309% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, direct dye exports fell to $X in 2021. In general, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 148%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Cambodia (X kg), Lao People's Democratic Republic (X kg) and Taiwan (Chinese) (X kg) were the main destinations of direct dye exports from Vietnam, with a combined 88% share of total exports. These countries were followed by China and India, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +33.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for direct dyes and preparations based thereon exports from Vietnam, comprising 78% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 9.7% share of total exports. It was followed by Taiwan (Chinese), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia amounted to +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+7.9% per year) and Taiwan (Chinese) (-16.6% per year).

Export Prices by Country

The average direct dye export price stood at $X per ton in 2021, leveling off at the previous year. Over the period under review, the export price saw a perceptible contraction. The growth pace was the most rapid in 2015 when the average export price increased by 102% 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 ($X per ton), while the average price for exports to China ($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 Burundi (+62.9%), while the prices for the other major destinations experienced more modest paces of growth.

Direct Dye Imports

Imports into Vietnam

In 2021, direct dye imports into Vietnam rose sharply to X tons, with an increase of 6.4% compared with the year before. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, direct dye imports soared to $X in 2021. Overall, imports saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 49%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest direct dye supplier to Vietnam, accounting for a 51% share of total imports. Moreover, direct dye imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+27.1% per year) and Taiwan (Chinese) (+10.6% per year).

In value terms, China ($X) constituted the largest supplier of direct dyes and preparations based thereon to Vietnam, comprising 50% of total imports. The second position in the ranking was held by India ($X), with a 23% share of total imports. It was followed by Taiwan (Chinese), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+29.8% per year) and Taiwan (Chinese) (+9.4% per year).

Import Prices by Country

The average direct dye import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.3%. The growth pace was the most rapid in 2013 when the average import price increased by 23%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and Indonesia ($X per ton), while the price for Singapore ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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