Vietnam: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Vietnam

In 2022, after three years of growth, there was decline in the Vietnamese glass fibre and article market, when its value decreased by X% to $X. Over the period under review, consumption, however, showed strong growth. Over the period under review, the market attained the peak level at $X in 2021, and then contracted slightly in the following year.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Vietnam

In 2022, glass fibre and article exports from Vietnam dropped notably to X tons, falling by X% against 2021 figures. Overall, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, glass fibre and article exports declined dramatically to $X in 2022. In general, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Myanmar (X tons) was the main destination for glass fibre and article exports from Vietnam, accounting for a X% share of total exports. Moreover, glass fibre and article exports to Myanmar exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fivefold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for glass fibres and glass fibre articles exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price showed a buoyant increase. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

Imports of Glass Fibres and Glass Fibre Articles

Imports into Vietnam

In 2022, supplies from abroad of glass fibres and glass fibre articles decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, glass fibre and article imports contracted to $X in 2022. Overall, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass fibre and article to Vietnam, with a X% share of total imports. Moreover, glass fibre and article 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 X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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