Vietnam: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Vietnam

The Vietnamese high-tenacity filament aramids yarn market reduced sharply to $X in 2022, dropping by -22.2% 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). Overall, consumption, however, continues to indicate a buoyant increase. High-tenacity filament aramids yarn consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Vietnam

After four years of decline, overseas shipments of high-tenacity filament yarn of aramids increased by 1.9% to X tons in 2022. Over the period under review, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 296%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn exports declined slightly to $X in 2022. Overall, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 200% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons) was the main destination for high-tenacity filament aramids yarn exports from Vietnam, accounting for a 72% share of total exports. Moreover, high-tenacity filament aramids yarn exports to Costa Rica exceeded the volume sent to the second major destination, Thailand (X kg), sevenfold. The third position in this ranking was held by Bangladesh (X kg), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Costa Rica totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+8.6% per year) and Bangladesh (-4.6% per year).

In value terms, Bangladesh ($X) emerged as the key foreign market for high-tenacity filament yarn of aramids exports from Vietnam, comprising 57% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 20% share of total exports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Bangladesh stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-0.8% per year) and Taiwan (Chinese) (+4.8% per year).

Export Prices by Country

The average high-tenacity filament aramids yarn export price stood at $X per ton in 2022, dropping by -5.8% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of 89%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Japan ($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 Bangladesh (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Vietnam

In 2022, imports of high-tenacity filament yarn of aramids into Vietnam contracted sharply to X tons, waning by -24.9% against the year before. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, high-tenacity filament aramids yarn imports declined remarkably to $X in 2022. Over the period under review, imports, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of high-tenacity filament aramids yarn imports to Vietnam, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +26.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament aramids yarn suppliers to Vietnam were South Korea ($X), the Netherlands ($X) and China ($X), together comprising 66% of total imports. Hong Kong SAR, the United States, the UK and Japan lagged somewhat behind, together comprising a further 33%.

Hong Kong SAR, with a CAGR of +32.3%, saw the highest rates of growth with regard to 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 high-tenacity filament aramids yarn import price stood at $X per ton in 2022, growing by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 14% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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