Vietnam: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Vietnam

The Vietnamese acrylic acid esters market reduced markedly to $X in 2022, with a decrease of -18.5% 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 slight growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +29.6% against 2020 indices. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Acrylic Acid Esters Exports

Exports from Vietnam

In 2022, overseas shipments of esters of acrylic acid were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 34%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, acrylic acid esters exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for acrylic acid esters exports from Vietnam, accounting for a 90% share of total exports. Moreover, acrylic acid esters exports to Thailand exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. The third position in this ranking was held by China (X kg), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-26.8% per year) and China (-10.8% per year).

In value terms, the largest markets for acrylic acid esters exported from Vietnam were Thailand ($X), China ($X) and Malaysia ($X), together accounting for 98% of total exports.

In terms of the main countries of destination, China, with a CAGR of +23.6%, 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 a decline.

Export Prices by Country

In 2022, the average acrylic acid esters export price amounted to $X per ton, remaining constant against the previous year. In general, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2020 an increase of 6.7%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 China ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+38.5%), while the prices for the other major destinations experienced a decline.

Acrylic Acid Esters Imports

Imports into Vietnam

In 2022, imports of esters of acrylic acid into Vietnam declined to X tons, waning by -6.9% on 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 38%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, acrylic acid esters imports fell significantly to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 92%. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

China (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of acrylic acid esters imports to Vietnam, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +35.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Taiwan (Chinese) ($X) appeared to be the largest acrylic acid esters suppliers to Vietnam, together accounting for 71% of total imports.

Among the main suppliers, China, with a CAGR of +26.8%, saw the highest rates of growth with regard to 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

The average acrylic acid esters import price stood at $X per ton in 2022, reducing by -18.3% against the previous year. In general, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 65% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined remarkably in the following year.

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 Saudi Arabia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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