Vietnam: Metal Wool Market 2025

Metal Wool Market Size in Vietnam

The Vietnamese metal wool market soared to $X in 2022, rising by 19% against the previous year. Overall, consumption recorded a measured expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Metal Wool Production in Vietnam

In value terms, metal wool production surged to $X in 2022 estimated in export price. In general, production saw perceptible growth. The most prominent rate of growth was recorded in 2020 with an increase of 140%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Metal Wool Exports

Exports from Vietnam

In 2022, metal wool exports from Vietnam surged to X tons, picking up by 16% compared with the previous year. The total export volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal wool exports rose rapidly to $X in 2022. Over the period under review, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 55%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for metal wool exports from Vietnam, with a 70% share of total exports. Moreover, metal wool exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by Nigeria (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.5% per year) and Nigeria (+1.8% per year).

In value terms, Japan ($X) remains the key foreign market for iron or steel wool exports from Vietnam, comprising 69% of total exports. The second position in the ranking was held by the United States ($X), with an 18% share of total exports. It was followed by Panama, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+30.2% per year) and Panama (+36.5% per year).

Export Prices by Country

In 2022, the average metal wool export price amounted to $X per ton, shrinking by -3.3% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool export price increased by +42.3% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Nigeria ($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 Saudi Arabia (+66.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into Vietnam

In 2022, metal wool imports into Vietnam amounted to X tons, growing by 6.5% against the previous year's figure. Over the period under review, imports, however, continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 38%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal wool imports reached $X in 2022. In general, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 19%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal wool to Vietnam, with a 61% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-8.0% per year) and Japan (+0.6% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Vietnam, comprising 61% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.2% per year) and Thailand (-7.5% per year).

Import Prices by Country

The average metal wool import price stood at $X per ton in 2022, falling by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2021 an increase of 11%. As a result, import price attained the peak level of $X per ton, and then declined 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 South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :