Vietnam: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Vietnam

In 2021, after two years of growth, there was significant decline in the Vietnamese rubber-to-metal and moulded article market, when its value decreased by -9.5% to $X. Overall, consumption saw a slight decline. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Rubber-to-Metal and Moulded Articles in Vietnam

In value terms, rubber-to-metal and moulded article production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of 28% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Vietnam

In 2021, overseas shipments of rubber-to-metal and moulded articles were finally on the rise to reach X tons after three years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main destinations of rubber-to-metal and moulded article exports from Vietnam, together comprising 71% of total exports. South Korea, Taiwan (Chinese), Indonesia, the Netherlands and Hong Kong SAR lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +51.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rubber-to-metal and moulded article exported from Vietnam were the United States ($X), China ($X) and Japan ($X), together accounting for 71% of total exports. South Korea, Taiwan (Chinese), Indonesia, the Netherlands and Hong Kong SAR lagged somewhat behind, together comprising a further 15%.

The Netherlands, with a CAGR of +59.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rubber-to-metal and moulded article export price stood at $X per ton in 2021, shrinking by -11.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2020 an increase of 19%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Indonesia ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($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 Japan (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Vietnam

Rubber-to-metal and moulded article imports into Vietnam surged to X tons in 2021, jumping by 27% compared with 2020. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, rubber-to-metal and moulded article imports skyrocketed to $X in 2021. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of rubber-to-metal and moulded article imports to Vietnam, with a combined 72% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +22.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest rubber-to-metal and moulded article suppliers to Vietnam, together accounting for 72% of total imports.

China, with a CAGR of +19.7%, saw 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

The average rubber-to-metal and moulded article import price stood at $X per ton in 2021, surging by 1.6% against the previous year. Over the period under review, the import price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 5.4% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the price for Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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