Vietnam: Hollow Drill Bar Market 2025

Hollow Drill Bar Market Size in Vietnam

The Vietnamese hollow drill bar market surged to $X in 2021, with an increase of 70% against the previous year. Overall, consumption, however, recorded a deep setback. Hollow drill bar consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Hollow Drill Bar Production in Vietnam

In value terms, hollow drill bar production contracted significantly to $X in 2021 estimated in export price. In general, production continues to indicate a dramatic curtailment. Hollow drill bar production peaked at $X in 2020, and then declined remarkably in the following year.

Hollow Drill Bar Exports

Exports from Vietnam

Hollow drill bar exports from Vietnam shrank remarkably to X tons in 2021, falling by -54.9% against the year before. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 707% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hollow drill bar exports shrank rapidly to $X in 2021. Over the period under review, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 1,007%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for hollow drill bar exports from Vietnam, accounting for a 55% share of total exports. Moreover, hollow drill bar exports to Indonesia exceeded the volume sent to the second major destination, Cambodia (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+24.8% per year) and South Korea (+28.6% per year).

In value terms, the largest markets for hollow drill bar exported from Vietnam were Cambodia ($X), Indonesia ($X) and Thailand ($X), with a combined 65% share of total exports.

Among the main countries of destination, Thailand, with a CAGR of +63.4%, saw the highest rates of growth with regard to 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

The average hollow drill bar export price stood at $X per ton in 2021, which is down by -13.9% against the previous year. In general, the export price, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2017 an increase of 109%. The export price peaked at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Indonesia ($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 Thailand (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hollow Drill Bar Imports

Imports into Vietnam

In 2021, imports of hollow drill bars and rods into Vietnam soared to X tons, jumping by 834% compared with the year before. In general, imports, however, recorded a abrupt descent. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hollow drill bar imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a abrupt decline. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of hollow drill bar imports to Vietnam, with a combined 75% share of total imports. South Korea, Myanmar, Thailand, the United States and the UK lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of +1,112.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hollow drill bar suppliers to Vietnam were Japan ($X), China ($X) and South Korea ($X), together accounting for 74% of total imports. Taiwan (Chinese), Myanmar, the United States, Thailand and the UK lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Myanmar, with a CAGR of +3,594.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hollow drill bar import price amounted to $X per ton, dropping by -10.7% against the previous year. Over the period under review, the import price saw a mild decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+204.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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