Vietnam: Plastic Headgear Market 2024

Plastic Headgear Market Size in Vietnam

In 2022, after two years of growth, there was significant decline in the Vietnamese plastic headgear market, when its value decreased by -34.6% to $X. Overall, consumption, however, posted a notable increase. Plastic headgear consumption peaked at $X in 2021, and then declined dramatically in the following year.

Plastic Headgear Production in Vietnam

In value terms, plastic headgear production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14%. Plastic headgear production peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Headgear Exports

Exports from Vietnam

Plastic headgear exports from Vietnam rose notably to X units in 2022, increasing by 12% compared with 2021 figures. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 44% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic headgear exports stood at $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 66%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Japan (X units) and Poland (X units) were the main destinations of plastic headgear exports from Vietnam, together accounting for 75% of total exports. These countries were followed by Germany, Cambodia, Mexico, Italy, Taiwan (Chinese) and Saudi Arabia, which together accounted for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +73.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Poland ($X) and Japan ($X) appeared to be the largest markets for plastic headgear exported from Vietnam worldwide, together accounting for 77% of total exports. These countries were followed by Germany, Mexico, Cambodia, Taiwan (Chinese), Italy and Saudi Arabia, which together accounted for a further 9%.

Cambodia, with a CAGR of +61.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 plastic headgear export price amounted to $X per unit, shrinking by -7.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 25% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.6%), while the prices for the other major destinations experienced a decline.

Plastic Headgear Imports

Imports into Vietnam

In 2022, overseas purchases of headgear of rubber or plastic decreased by -37.2% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 595% against the previous year. Imports peaked at X units in 2021, and then dropped dramatically in the following year.

In value terms, plastic headgear imports fell markedly to $X in 2022. Overall, imports, however, recorded moderate growth. The pace of growth appeared the most rapid in 2017 when imports increased by 441%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plastic headgear to Vietnam, with a 88% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 2.7% share of total imports. France (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+26.1% per year) and France (+1.1% per year).

In value terms, China ($X) constituted the largest supplier of headgear of rubber or plastic to Vietnam, comprising 86% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.2% share of total imports. It was followed by France, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+26.7% per year) and France (+1.4% per year).

Import Prices by Country

The average plastic headgear import price stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the import price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 35%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 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 Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :