Vietnam: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Vietnam

The Vietnamese market for glaziers putty, grafting putty, other mastics and painters' fillings declined dramatically to $X in 2022, reducing by -15.4% 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). Over the period under review, consumption, however, posted a strong expansion. As a result, consumption reached the peak level of $X, and then declined markedly in the following year.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from Vietnam

After two years of decline, overseas shipments of glaziers putty, grafting putty, other mastics and painters' fillings increased by 23% to X tons in 2022. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 133%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings fell modestly to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 172% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2021, and then shrank modestly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of glaziers putty, grafting putty, other mastics and painters' fillings from Vietnam, with a 43% share of total exports. Moreover, exports of glaziers putty, grafting putty, other mastics and painters' fillings to the United Arab Emirates exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), twofold. China (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +68.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+68.8% per year) and China (+71.2% per year).

In value terms, the largest markets for glaziers, grafting putty and painters' filling exported from Vietnam were Taiwan (Chinese) ($X), China ($X) and the Czech Republic ($X), with a combined 74% share of total exports.

Among the main countries of destination, the Czech Republic, with a CAGR of +149.5%, recorded 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 2022, the average export price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, dropping by -20.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 81% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to the United Arab Emirates ($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 Poland (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into Vietnam

Imports of glaziers putty, grafting putty, other mastics and painters' fillings into Vietnam declined dramatically to X tons in 2022, dropping by -17.7% compared with the previous year. Over the period under review, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 54% against the previous year. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 40% against the previous year. Over the period under review, imports of hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of glaziers, grafting putty and painters' filling to Vietnam, accounting for a 49% share of total imports. Moreover, imports of glaziers putty, grafting putty, other mastics and painters' fillings from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Thailand (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea amounted to +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and Thailand (+10.2% per year).

In value terms, South Korea ($X) constituted the largest supplier of glaziers putty, grafting putty, other mastics and painters' fillings to Vietnam, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.7% per year) and Thailand (+7.2% per year).

Import Prices by Country

In 2022, the average import price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, growing by 8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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