Vietnam: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Vietnam

The Vietnamese market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) skyrocketed to $X in 2021, with an increase of 43% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +98.7% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Vietnam

In value terms, LCD or LED indicator panel production rose markedly to $X in 2021 estimated in export price. In general, production, however, recorded a mild reduction. The growth pace was the most rapid in 2017 when the production volume increased by 45%. Production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Vietnam

In 2021, shipments abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) increased by 3% to X units, rising for the fifth year in a row after three years of decline. In general, exports, however, recorded a slight decline. The growth pace was the most rapid in 2013 with an increase of 111% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, LCD or LED indicator panel exports rose significantly to $X in 2021. Over the period under review, exports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 84% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for LCD or LED indicator panel exports from Vietnam, accounting for a 56% share of total exports. Moreover, LCD or LED indicator panel exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), fourfold. The third position in this ranking was taken by Denmark (X units), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+57.8% per year) and Denmark (+246.7% per year).

In value terms, the United States ($X) remains the key foreign market for LCD or LED indicator panel exports from Vietnam, comprising 79% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.6% share of total exports. It was followed by Denmark, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+36.1% per year) and Denmark (+219.9% per year).

Export Prices by Country

In 2021, the average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, increasing by 8.5% against the previous year. Overall, the export price, however, recorded a slight slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 30%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per unit), while the average price for exports to Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Vietnam

For the third year in a row, Vietnam recorded growth in overseas purchases of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), which increased by 215% to X units in 2021. In general, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, LCD or LED indicator panel imports surged to $X in 2021. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2020 with an increase of 89%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) was the main LCD or LED indicator panel supplier to Vietnam, accounting for a 92% share of total imports. It was followed by the United Arab Emirates (X units), with a 2.6% share of total imports. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +47.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+292.3% per year) and Taiwan (Chinese) (+51.5% per year).

In value terms, China ($X) constituted the largest supplier of LCD or LED indicator panel to Vietnam, comprising 85% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by Taiwan (Chinese), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +40.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+302.4% per year) and Taiwan (Chinese) (+44.9% per year).

Import Prices by Country

In 2021, the average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, falling by -41.3% against the previous year. Over the period under review, the import price showed a pronounced slump. The growth pace was the most rapid in 2018 when the average import price increased by 8.8%. The import price peaked at $X per unit in 2020, and then contracted notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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