Vietnam: Market for Mattresses of cellular rubber or plastics 2024

Market Size for Mattresses of cellular rubber or plastics in Vietnam

The Vietnamese market for mattresses of cellular rubber or plastics was finally on the rise to reach $X in 2022, after four years of decline. In general, consumption, however, showed a drastic downturn. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Mattresses of cellular rubber or plastics in Vietnam

In value terms, production of mattresses of cellular rubber or plastics declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 9.1%. Production of peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Mattresses of cellular rubber or plastics

Exports from Vietnam

After four years of growth, overseas shipments of mattresses of cellular rubber or plastics decreased by -31.2% to X units in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 167%. As a result, the exports attained the peak of X units, and then fell rapidly in the following year.

In value terms, exports of mattresses of cellular rubber or plastics dropped notably to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 99%. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

The United States (X units) was the main destination for exports of mattresses of cellular rubber or plastics from Vietnam, with a 67% share of total exports. Moreover, exports of mattresses of cellular rubber or plastics to the United States exceeded the volume sent to the second major destination, South Korea (X units), sixfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+12.9% per year) and Taiwan (Chinese) (+22.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for mattresses of cellular rubber or plastics exports from Vietnam, comprising 67% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+11.0% per year) and Taiwan (Chinese) (+19.9% per year).

Export Prices by Country

In 2022, the average export price for mattresses of cellular rubber or plastics amounted to $X per unit, rising by 9.2% against the previous year. In general, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2017 an increase of 23%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per unit) and China ($X per unit), while the average price for exports to Canada ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-1.7%), while the prices for the other major destinations experienced a decline.

Imports of Mattresses of cellular rubber or plastics

Imports into Vietnam

In 2022, the amount of mattresses of cellular rubber or plastics imported into Vietnam fell rapidly to X units, reducing by -20.3% against the previous year. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 264% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2021, and then fell notably in the following year.

In value terms, imports of mattresses of cellular rubber or plastics reduced remarkably to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 260%. Over the period under review, imports of reached the maximum at $X in 2021, and then shrank sharply in the following year.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Belgium (X units) were the main suppliers of imports of mattresses of cellular rubber or plastics to Vietnam, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +71.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Belgium ($X) constituted the largest mattresses of cellular rubber or plastics suppliers to Vietnam, together accounting for 97% of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +80.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for mattresses of cellular rubber or plastics amounted to $X per unit, dropping by -4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2017 when the average import price increased by 25% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then dropped modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per unit) and Taiwan (Chinese) ($X per unit), while the price for Belgium ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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