Vietnam: Fluorspar Market 2024

Fluorspar Market Size in Vietnam

The Vietnamese fluorspar market rose rapidly to $X in 2021, picking up by 13% against the previous year. In general, consumption, however, continues to indicate a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Fluorspar Production in Vietnam

In value terms, fluorspar production declined rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 45%. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Fluorspar Exports

Exports from Vietnam

In 2021, overseas shipments of fluorspar decreased by -9.9% to X tons, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 256% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, fluorspar exports fell to $X in 2021. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 231%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Canada (X tons) and Germany (X tons) were the main destinations of fluorspar exports from Vietnam, with a combined 40% share of total exports. The United Arab Emirates, India, Japan, Belgium, Italy, China and the Netherlands lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fluorspar exported from Vietnam were the United States ($X), the United Arab Emirates ($X) and Germany ($X), with a combined 38% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +32.1%, 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

In 2021, the average fluorspar export price amounted to $X per ton, shrinking by -3.1% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluorspar export price increased by +52.3% against 2016 indices. The growth pace was the most rapid in 2020 an increase of 45% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Canada ($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 Netherlands (+87.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fluorspar Imports

Imports into Vietnam

In 2021, the amount of fluorspar imported into Vietnam skyrocketed to X tons, with an increase of 121% against 2020. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 505%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, fluorspar imports surged to $X in 2021. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 557%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest fluorspar supplier to Vietnam, accounting for a 61% share of total imports. Moreover, fluorspar imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Pakistan (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled +120.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+67.9% per year) and Pakistan (+46.6% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of fluorspar to Vietnam, comprising 60% of total imports. The second position in the ranking was taken by Italy ($X), with a 22% share of total imports. It was followed by Pakistan, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) amounted to +89.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+68.7% per year) and Pakistan (+51.9% per year).

Import Prices by Country

In 2021, the average fluorspar import price amounted to $X per ton, with an increase of 7.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 26%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per ton) and Pakistan ($X per ton), while the price for China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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