Vietnam: Starch Glue Market 2024

Starch Glue Market Size in Vietnam

The Vietnamese starch glue market contracted rapidly to $X in 2021, shrinking by -58.4% against the previous year. Over the period under review, consumption saw a abrupt decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Starch Glue Production in Vietnam

In value terms, starch glue production dropped remarkably to $X in 2021 estimated in export price. In general, production saw a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 417%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Starch Glue Exports

Exports from Vietnam

In 2021, the amount of glues based on starches, dextrins or other modified starches exported from Vietnam skyrocketed to X tons, surging by 20% compared with 2020 figures. In general, exports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2013 with an increase of 162%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, starch glue exports soared to $X in 2021. Overall, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 61%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), the United Arab Emirates (X tons) and China (X tons) were the main destinations of starch glue exports from Vietnam, together comprising 76% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +47.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) emerged as the key foreign market for glues based on starches, dextrins or other modified starches exports from Vietnam, comprising 43% of total exports. The second position in the ranking was held by China ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia totaled -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.1% per year) and the United Arab Emirates (-29.1% per year).

Export Prices by Country

The average starch glue export price stood at $X per ton in 2021, surging by 20% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to the United Arab Emirates ($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 Taiwan (Chinese) (+6.9%), while the prices for the other major destinations experienced a decline.

Starch Glue Imports

Imports into Vietnam

In 2021, approx. X tons of glues based on starches, dextrins or other modified starches were imported into Vietnam; reducing by -62.1% compared with 2020. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,748%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, starch glue imports dropped notably to $X in 2021. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,504%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of starch glue imports to Vietnam, with a combined 82% share of total imports. Taiwan (Chinese), Thailand and Singapore lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +71.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest starch glue suppliers to Vietnam were China ($X), South Korea ($X) and Japan ($X), with a combined 82% share of total imports. These countries were followed by Taiwan (Chinese), Thailand and Singapore, which together accounted for a further 16%.

Thailand, with a CAGR of +60.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, with an increase of 2% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 8.6%. 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, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Thailand ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-6.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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