Vietnam: Lithium-Ion Accumulator Market 2024

Lithium-Ion Accumulator Market Size in Vietnam

After five years of growth, the Vietnamese lithium-ion accumulator market decreased by -11.8% to $X in 2021. Over the period under review, consumption, however, recorded significant growth. Lithium-ion accumulator consumption peaked at $X in 2020, and then contracted in the following year.

Lithium-Ion Accumulator Exports

Exports from Vietnam

In 2021, the amount of lithium-ion accumulators exported from Vietnam surged to X units, growing by 61% compared with 2020. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lithium-ion accumulator exports skyrocketed to $X in 2021. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2014 with an increase of 62%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

China (X units), the United States (X units) and India (X units) were the main destinations of lithium-ion accumulator exports from Vietnam, together accounting for 55% of total exports. South Korea, Brazil, Japan, Thailand, Hong Kong SAR, Malaysia, Kenya and Germany lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +116.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and India ($X) constituted the largest markets for lithium-ion accumulator exported from Vietnam worldwide, together comprising 52% of total exports. These countries were followed by South Korea, Brazil, Japan, Thailand, Malaysia, Hong Kong SAR, Kenya and Germany, which together accounted for a further 29%.

In terms of the main countries of destination, Thailand, with a CAGR of +78.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lithium-ion accumulator export price stood at $X per unit in 2021, waning by -18.7% against the previous year. In general, the export price continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2014 an increase of 20% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to India ($X per unit) and the United States ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium-Ion Accumulator Imports

Imports into Vietnam

For the eighth year in a row, Vietnam recorded growth in supplies from abroad of lithium-ion accumulators, which increased by 10% to X units in 2021. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 169% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, lithium-ion accumulator imports shrank slightly to $X in 2021. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 270% against the previous year. Imports peaked at $X in 2020, and then fell modestly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest lithium-ion accumulator supplier to Vietnam, accounting for a 70% share of total imports. Moreover, lithium-ion accumulator imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), ninefold. The third position in this ranking was taken by Hong Kong SAR (X units), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.7% per year) and Hong Kong SAR (+273.8% per year).

In value terms, China ($X) constituted the largest supplier of lithium-ion accumulators to Vietnam, comprising 73% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.3% share of total imports. It was followed by Hong Kong SAR, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.9% per year) and Hong Kong SAR (+246.6% per year).

Import Prices by Country

The average lithium-ion accumulator import price stood at $X per unit in 2021, with a decrease of -10.6% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the average import price increased by 45% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Malaysia ($X per unit) and Hong Kong SAR ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform