Vietnam: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Vietnam

The Vietnamese vulcanised rubber erases market skyrocketed to $X in 2021, jumping by 60% 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, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.6% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Vulcanised Rubber Erases Exports

Exports from Vietnam

In 2021, approx. X tons of erasers of vulcanised rubber were exported from Vietnam; reducing by -15.8% on the year before. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 697% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, vulcanised rubber erases exports shrank slightly to $X in 2021. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 756% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Indonesia (X tons) and Italy (X tons) were the main destinations of vulcanised rubber erases exports from Vietnam, together comprising 79% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +1,153.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vulcanised rubber erases exported from Vietnam were Japan ($X), Indonesia ($X) and Italy ($X), with a combined 78% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +556.5%, 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

In 2021, the average vulcanised rubber erases export price amounted to $X per ton, surging by 16% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber erases export price decreased by -16.8% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 62% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Cambodia ($X per ton) and Indonesia ($X per ton), while the average price for exports to Italy ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Erases Imports

Imports into Vietnam

In 2021, overseas purchases of erasers of vulcanised rubber increased by 56% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, vulcanised rubber erases imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 55% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vulcanised rubber erases to Vietnam, with a 83% share of total imports. Moreover, vulcanised rubber erases imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.3% per year) and South Korea (+34.7% per year).

In value terms, China ($X) constituted the largest supplier of erasers of vulcanised rubber to Vietnam, comprising 83% of total imports. The second position in the ranking was held by Japan ($X), with a 5.4% share of total imports. It was followed by South Korea, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.1% per year) and South Korea (+38.0% per year).

Import Prices by Country

In 2021, the average vulcanised rubber erases import price amounted to $X per ton, with a decrease of -12.2% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 an increase of 50%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then declined in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and South Korea ($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 (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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