Vietnam: Metal Washer Market 2025

Metal Washer Market Size in Vietnam

The Vietnamese metal washer market contracted to $X in 2021, waning by -5.1% against the previous year. Over the period under review, consumption recorded a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Washer Production in Vietnam

In value terms, metal washer production soared to $X in 2021 estimated in export price. In general, production, however, saw a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 99% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Metal Washer Exports

Exports from Vietnam

In 2021, shipments abroad of iron or steel washers was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports continue to indicate a measured expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal washer exports skyrocketed to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for metal washer exports from Vietnam, accounting for a 42% share of total exports. Moreover, metal washer exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.4% per year) and the Netherlands (+47.6% per year).

In value terms, Japan ($X) remains the key foreign market for iron or steel washers exports from Vietnam, comprising 41% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Thailand, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.3% per year) and Thailand (+20.0% per year).

Export Prices by Country

In 2021, the average metal washer export price amounted to $X per ton, with a decrease of -4.9% against the previous year. In general, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2013 when the average export price increased by 149% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to the Netherlands ($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 Turkey (+42.4%), while the prices for the other major destinations experienced a decline.

Metal Washer Imports

Imports into Vietnam

In 2021, supplies from abroad of iron or steel washers increased by 0.1% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, imports saw prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 130% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, metal washer imports rose remarkably to $X in 2021. In general, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 25%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal washer to Vietnam, with a 73% share of total imports. Moreover, metal washer imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.2% per year) and South Korea (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel washers to Vietnam, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.3% per year) and Japan (+5.1% per year).

Import Prices by Country

The average metal washer import price stood at $X per ton in 2021, picking up by 7.1% against the previous year. Overall, the import price posted notable growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 138%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained 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 Japan ($X per ton), while the price for China ($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 (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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