Vietnam: Electroplating Machine Market 2024

Electroplating Machine Market Size in Vietnam

The Vietnamese electroplating machine market reduced markedly to $X in 2021, waning by -40.9% 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). In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Electroplating Machine Exports

Exports from Vietnam

For the third year in a row, Vietnam recorded decline in overseas shipments of machines for electroplating, electrolysis or electrophoresis, which decreased by -26.7% to X units in 2021. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 555% against the previous year. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, electroplating machine exports reduced remarkably to $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 631%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units), the Philippines (X units) and the United States (X units) were the main destinations of electroplating machine exports from Vietnam, with a combined 79% share of total exports. Japan, Thailand, Canada, Cambodia, Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were in Cambodia (with a CAGR of +51.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electroplating machine exported from Vietnam were the Philippines ($X), China ($X) and Japan ($X), together comprising 75% of total exports.

Among the main countries of destination, Japan, with a CAGR of +124.9%, 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 electroplating machine export price stood at $X per unit in 2021, rising by 5.3% against the previous year. Over the period under review, the export price posted a buoyant increase. The growth pace was the most rapid in 2019 when the average export price increased by 71% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+43.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electroplating Machine Imports

Imports into Vietnam

In 2021, approx. X units of machines for electroplating, electrolysis or electrophoresis were imported into Vietnam; waning by -34.6% on 2020 figures. In general, imports, however, saw measured growth. The pace of growth appeared the most rapid in 2015 with an increase of 217% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, electroplating machine imports fell sharply to $X in 2021. Overall, imports saw a mild decline. The pace of growth appeared the most rapid in 2015 with an increase of 130% 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

In 2021, China (X units) constituted the largest supplier of electroplating machine to Vietnam, accounting for a 34% share of total imports. Moreover, electroplating machine imports from China exceeded the figures recorded by the second-largest supplier, India (X units), twofold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+90.7% per year) and Taiwan (Chinese) (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of electroplating machine to Vietnam, comprising 38% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 13% share of total imports. It was followed by Japan, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+63.9% per year) and Japan (-12.2% per year).

Import Prices by Country

The average electroplating machine import price stood at $X per unit in 2021, shrinking by -16.4% against the previous year. Over the period under review, the import price showed a noticeable setback. The growth pace was the most rapid in 2018 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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