Vietnam: Modelling Pastes Market 2024

Modelling Pastes Market Size in Vietnam

In 2021, the Vietnamese modelling pastes market decreased by -23.9% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, posted prominent growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Modelling Pastes Exports

Exports from Vietnam

After two years of growth, overseas shipments of modelling pastes, dental wax and dental impression compounds decreased by -21.7% to X tons in 2021. In general, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 183% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank dramatically in the following year.

In value terms, modelling pastes exports dropped to $X in 2021. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 131% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

The Philippines (X tons), Australia (X tons) and Kuwait (X tons) were the main destinations of modelling pastes exports from Vietnam, with a combined 42% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +60.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for modelling pastes exported from Vietnam were Australia ($X), Kuwait ($X) and the UK ($X), together comprising 47% of total exports.

In terms of the main countries of destination, Kuwait, with a CAGR of +137.3%, recorded the highest rates of growth with regard to 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 modelling pastes export price stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+80.5%), while the prices for the other major destinations experienced more modest paces of growth.

Modelling Pastes Imports

Imports into Vietnam

After four years of growth, purchases abroad of modelling pastes, dental wax and dental impression compounds decreased by -28.2% to X tons in 2021. Overall, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 108% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then contracted remarkably in the following year.

In value terms, modelling pastes imports declined dramatically to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.6% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 26% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), China (X tons) and Japan (X tons) were the main suppliers of modelling pastes imports to Vietnam, together accounting for 65% of total imports. Germany, Italy, the United States, Austria, Taiwan (Chinese) and Spain lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +46.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest modelling pastes suppliers to Vietnam were Italy ($X), China ($X) and Japan ($X), with a combined 36% share of total imports. These countries were followed by Germany, Thailand, the United States, Austria, Taiwan (Chinese) and Spain, which together accounted for a further 29%.

Austria, with a CAGR of +28.2%, saw the highest growth rate of 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 modelling pastes import price amounted to $X per ton, picking up by 16% against the previous year. Overall, the import price, however, saw a deep downturn. Over the period under review, average import prices hit record highs at $X per ton 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 Taiwan (Chinese) ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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