Vietnam: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in Vietnam

In 2021, the Vietnamese market for drawn glass and blown glass was finally on the rise to reach $X after four years of decline. In general, consumption, however, continues to indicate a deep slump. The pace of growth appeared the most rapid in 2016 when the market value increased by 5.5%. Drawn glass and blown glass consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Drawn Glass And Blown Glass in Vietnam

In value terms, drawn glass and blown glass production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 20%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Drawn Glass And Blown Glass

Exports from Vietnam

In 2021, drawn glass and blown glass exports from Vietnam fell markedly to X square meters, waning by -27.6% on the previous year's figure. In general, exports, however, enjoyed a notable increase. The pace of growth was the most pronounced in 2014 with an increase of 607%. As a result, the exports attained the peak of X square meters. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, drawn glass and blown glass exports shrank remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 211%. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Cambodia (X square meters) was the main destination for drawn glass and blown glass exports from Vietnam, with a 31% share of total exports. Moreover, drawn glass and blown glass exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X square meters), twofold. Qatar (X square meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Cambodia stood at +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+41.0% per year) and Qatar (+41.2% per year).

In value terms, the largest markets for drawn glass and blown glass exported from Vietnam were Cambodia ($X), Lao People's Democratic Republic ($X) and Qatar ($X), together comprising 55% of total exports.

Among the main countries of destination, Lao People's Democratic Republic, with a CAGR of +60.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for drawn glass and blown glass stood at $X per square meter in 2021, picking up by 13% against the previous year. Over the period under review, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 72% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per square meter), while the average price for exports to Singapore ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drawn Glass And Blown Glass

Imports into Vietnam

In 2021, approx. X square meters of drawn glass and blown glass were imported into Vietnam; with a decrease of -27.3% against the previous year. Over the period under review, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 122% against the previous year. Over the period under review, imports reached the maximum at X square meters in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, drawn glass and blown glass imports dropped remarkably to $X in 2021. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by 17% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X square meters) constituted the largest drawn glass and blown glass supplier to Vietnam, with a 65% share of total imports. Moreover, drawn glass and blown glass imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X square meters), sixfold. South Korea (X square meters) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+34.4% per year) and South Korea (+99.5% per year).

In value terms, China ($X), Indonesia ($X) and South Korea ($X) constituted the largest drawn glass and blown glass suppliers to Vietnam, together accounting for 70% of total imports.

South Korea, with a CAGR of +93.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for drawn glass and blown glass amounted to $X per square meter, waning by -8.4% against the previous year. Over the period under review, the import price, however, enjoyed mild growth. The growth pace was the most rapid in 2016 an increase of 68%. Over the period under review, average import prices attained the maximum at $X per square meter in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Indonesia ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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