Vietnam: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Vietnam

The Vietnamese ketone and quinone market expanded markedly to $X in 2021, growing by 8.4% 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). Over the period under review, consumption enjoyed a remarkable increase. Ketone and quinone consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Ketone And Quinone Exports

Exports from Vietnam

In 2021, the amount of ketones and quinones exported from Vietnam surged to X tons, with an increase of 54% compared with the previous year. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 7,838% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, ketone and quinone exports soared to $X in 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 3,993%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Cambodia (X tons) was the main destination for ketone and quinone exports from Vietnam, with a 53% share of total exports. Moreover, ketone and quinone exports to Cambodia exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was taken by Lao People's Democratic Republic (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia amounted to +70.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and Lao People's Democratic Republic (+122.4% per year).

In value terms, Cambodia ($X) emerged as the key foreign market for ketones and quinones exports from Vietnam, comprising 49% of total exports. The second position in the ranking was held by Canada ($X), with a 14% share of total exports. It was followed by Lao People's Democratic Republic, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value to Cambodia stood at +67.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and Lao People's Democratic Republic (+100.0% per year).

Export Prices by Country

The average ketone and quinone export price stood at $X per ton in 2021, reducing by -24.7% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 55%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, the countries with the highest prices were Canada ($X per ton) and New Zealand ($X per ton), while the average price for exports to Malaysia ($X per ton) and Lao People's Democratic Republic ($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 Australia (+19.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ketone And Quinone Imports

Imports into Vietnam

For the tenth year in a row, Vietnam recorded growth in supplies from abroad of ketones and quinones, which increased by 9.9% to X tons in 2021. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, ketone and quinone imports expanded significantly to $X in 2021. In general, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of ketone and quinone imports to Vietnam, with a combined 79% share of total imports. These countries were followed by Singapore, Thailand and South Korea, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +72.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ketone and quinone suppliers to Vietnam were China ($X), Taiwan (Chinese) ($X) and Japan ($X), together accounting for 77% of total imports. Singapore, South Korea and Thailand lagged somewhat behind, together accounting for a further 18%.

Thailand, with a CAGR of +49.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ketone and quinone import price amounted to $X per ton, approximately equating the previous year. In general, the import price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 12%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for Thailand ($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 (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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