Vietnam: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in Vietnam

The Vietnamese industrial monocarboxylic fatty acids market fell modestly to $X in 2021, which is down by -2.4% against the previous year. Overall, consumption, however, saw a deep slump. Industrial monocarboxylic fatty acids consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in Vietnam

In value terms, industrial monocarboxylic fatty acids production declined slightly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 57%. Industrial monocarboxylic fatty acids production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Vietnam

In 2021, industrial monocarboxylic fatty acids exports from Vietnam surged to X tons, with an increase of 26% compared with the previous year. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 68% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. In general, exports showed a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 80%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Vietnam, with a 64% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fourfold. The third position in this ranking was held by South Korea (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+6.4% per year) and South Korea (-4.7% per year).

In value terms, China ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from Vietnam, comprising 64% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 18% share of total exports. It was followed by South Korea, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+9.3% per year) and South Korea (-2.1% per year).

Export Prices by Country

The average industrial monocarboxylic fatty acids export price stood at $X per ton in 2021, with an increase of 9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2018 when the average export price increased by 12% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Malaysia ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Vietnam

In 2021, approx. X tons of industrial monocarboxylic fatty acids were imported into Vietnam; picking up by 19% on the previous year. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 85% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports soared to $X in 2021. Overall, imports saw resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 95%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of industrial monocarboxylic fatty acids imports to Vietnam, with a combined 89% share of total imports. These countries were followed by Egypt, Japan and South Korea, which together accounted for a further 7%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +221.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial monocarboxylic fatty acids suppliers to Vietnam were Malaysia ($X), Indonesia ($X) and China ($X), together accounting for 89% of total imports. Egypt, Japan and South Korea lagged somewhat behind, together comprising a further 7%.

In terms of the main suppliers, Egypt, with a CAGR of +359.9%, recorded 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

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, surging by 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+43.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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