Vietnam: Vulcanised Rubber Mats Market 2024

Vulcanised Rubber Mats Market Size in Vietnam

In 2021, the Vietnamese vulcanised rubber mats market decreased by -5.7% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Vulcanised Rubber Mats Production in Vietnam

In value terms, vulcanised rubber mats production rose remarkably to $X in 2021 estimated in export price. In general, production, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Vulcanised Rubber Mats Exports

Exports from Vietnam

In 2021, overseas shipments of floor coverings and mats of vulcanised rubber increased by 46% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 69% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, vulcanised rubber mats exports skyrocketed to $X in 2021. Overall, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 68% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons), Japan (X tons) and Denmark (X tons) were the main destinations of vulcanised rubber mats exports from Vietnam, with a combined 45% share of total exports. These countries were followed by Sweden, Taiwan (Chinese), Spain, Germany, China and Guatemala, which together accounted for a further 8.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +64.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Denmark ($X) appeared to be the largest markets for vulcanised rubber mats exported from Vietnam worldwide, together comprising 63% of total exports. These countries were followed by Sweden, Spain, Germany, Taiwan (Chinese), China and Guatemala, which together accounted for a further 10%.

Among the main countries of destination, Sweden, with a CAGR of +75.4%, saw the highest growth rate of 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 mats export price amounted to $X per ton, with a decrease of -5.3% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 13%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Guatemala ($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 the United States (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Mats Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in overseas purchases of floor coverings and mats of vulcanised rubber, when their volume decreased by -21.6% to X tons. In general, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 82%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber mats imports dropped to $X in 2021. Overall, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 66%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest vulcanised rubber mats supplier to Vietnam, with a 63% share of total imports. Moreover, vulcanised rubber mats imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+8.7% per year) and Taiwan (Chinese) (+30.4% per year).

In value terms, China ($X) constituted the largest supplier of floor coverings and mats of vulcanised rubber to Vietnam, comprising 63% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.1% per year) and Taiwan (Chinese) (+25.0% per year).

Import Prices by Country

The average vulcanised rubber mats import price stood at $X per ton in 2021, surging by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2013 an increase of 25%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Hong Kong SAR ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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