Vietnam: Market for Inorganic Oxygen Compounds Of Non-Metals 2024

Market Size for Inorganic Oxygen Compounds Of Non-Metals in Vietnam

The Vietnamese market for inorganic oxygen compounds of non-metals fell slightly to $X in 2021, remaining stable 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, posted a buoyant expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Exports of Inorganic Oxygen Compounds Of Non-Metals

Exports from Vietnam

In 2021, shipments abroad of inorganic oxygen compounds of non-metals decreased by -5.9% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports saw a abrupt descent. The growth pace was the most rapid in 2017 with an increase of 291%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, inorganic oxygen compounds of non-metals exports skyrocketed to $X in 2021. Over the period under review, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 240%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for inorganic oxygen compounds of non-metals exports from Vietnam, with a 65% share of total exports. Moreover, inorganic oxygen compounds of non-metals exports to Malaysia exceeded the volume sent to the second major destination, India (X tons), twofold. The Philippines (X kg) ranked third in terms of total exports with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+4.6% per year) and the Philippines (-47.3% per year).

In value terms, Malaysia ($X) remains the key foreign market for inorganic oxygen compounds of non-metals exports from Vietnam, comprising 50% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports. It was followed by the Philippines, with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+15.6% per year) and the Philippines (-35.2% per year).

Export Prices by Country

The average export price for inorganic oxygen compounds of non-metals stood at $X per ton in 2021, picking up by 71% against the previous year. Over the period under review, the export price showed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 the United States (+44.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Inorganic Oxygen Compounds Of Non-Metals

Imports into Vietnam

In 2021, inorganic oxygen compounds of non-metals imports into Vietnam dropped to X tons, which is down by -9.7% on 2020. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 162%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, inorganic oxygen compounds of non-metals imports reached $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 with an increase of 121% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and South Korea (X tons) were the main suppliers of inorganic oxygen compounds of non-metals imports to Vietnam, with a combined 92% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of inorganic oxygen compounds of non-metals to Vietnam, comprising 58% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+33.7% per year) and Malaysia (+16.0% per year).

Import Prices by Country

In 2021, the average import price for inorganic oxygen compounds of non-metals amounted to $X per ton, growing by 20% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 84% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

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 Austria ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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