Vietnam: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Vietnam

The Vietnamese plastic household articles market declined to $X in 2022, waning by -7% against the previous year. The market value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Plastic Household Articles Production in Vietnam

In value terms, plastic household articles production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 31% against the previous year. Plastic household articles production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Household Articles Exports

Exports from Vietnam

In 2022, approx. X tons of household articles and toilet articles of plastics were exported from Vietnam; surging by 6.9% compared with 2021. In general, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 43% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic household articles exports fell to $X in 2022. Overall, exports showed a strong expansion. The growth pace was the most rapid in 2020 with an increase of 32%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for plastic household articles exports from Vietnam, accounting for a 47% share of total exports. Moreover, plastic household articles exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.6% per year) and South Korea (+23.4% per year).

In value terms, the United States ($X) remains the key foreign market for household articles and toilet articles of plastics exports from Vietnam, comprising 49% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by South Korea, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+5.5% per year) and South Korea (+15.4% per year).

Export Prices by Country

In 2022, the average plastic household articles export price amounted to $X per ton, declining by -12.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 32%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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 the UK ($X per ton), while the average price for exports to South Korea ($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 Australia (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Vietnam

In 2022, purchases abroad of household articles and toilet articles of plastics decreased by -1.8% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 285% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, plastic household articles imports reduced to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 384%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of plastic household articles to Vietnam, accounting for a 93% share of total imports. It was followed by Germany (X tons), with a 1.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.1% per year) and Hong Kong SAR (-27.6% per year).

In value terms, China ($X) constituted the largest supplier of household articles and toilet articles of plastics to Vietnam, comprising 89% of total imports. The second position in the ranking was held by Germany ($X), with a 1.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +39.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.7% per year) and Hong Kong SAR (-15.3% per year).

Import Prices by Country

In 2022, the average plastic household articles import price amounted to $X per ton, flattening at the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic household articles import price increased by +32.9% against 2017 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for China ($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 (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :