Vietnam: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Vietnam

The Vietnamese aromatic hydrocarbon mixtures market dropped significantly to $X in 2022, reducing by -32% 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, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Aromatic hydrocarbon mixtures consumption peaked at $X in 2021, and then fell notably in the following year.

Aromatic Hydrocarbon Mixtures Exports

Exports from Vietnam

Aromatic hydrocarbon mixtures exports from Vietnam rose rapidly to X tons in 2022, with an increase of 12% on the previous year. Over the period under review, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 when exports increased by 184% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures exports stood at $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 142% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons), Cambodia (X tons) and China (X tons) were the main destinations of aromatic hydrocarbon mixtures exports from Vietnam, together accounting for 65% of total exports. Bangladesh, Myanmar, Sri Lanka and the Philippines lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +45.4%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Cambodia ($X) and Bangladesh ($X) constituted the largest markets for aromatic hydrocarbon mixtures exported from Vietnam worldwide, together comprising 64% of total exports. China, Myanmar, Sri Lanka and the Philippines lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Myanmar, with a CAGR of +19.4%, 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

In 2022, the average aromatic hydrocarbon mixtures export price amounted to $X per ton, leveling off at the previous year. In general, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Myanmar ($X per ton), while the average price for exports to China ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-3.1%), while the prices for the other major destinations experienced a decline.

Aromatic Hydrocarbon Mixtures Imports

Imports into Vietnam

In 2022, imports of naphthalene and other aromatic hydrocarbon mixtures into Vietnam contracted remarkably to X tons, which is down by -42% compared with the year before. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 72%. Imports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, aromatic hydrocarbon mixtures imports reduced markedly to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 83%. Imports peaked at $X in 2021, and then fell rapidly in the following year.

Imports by Country

South Korea (X tons), Singapore (X tons) and Thailand (X tons) were the main suppliers of aromatic hydrocarbon mixtures imports to Vietnam, with a combined 82% share of total imports. Japan, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +82.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic hydrocarbon mixtures suppliers to Vietnam were South Korea ($X), Singapore ($X) and Thailand ($X), together accounting for 82% of total imports. Japan, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 15%.

Japan, with a CAGR of +91.7%, saw the highest rates of growth with regard to the value of imports, in terms of 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 aromatic hydrocarbon mixtures import price stood at $X per ton in 2022, rising by 33% against the previous year. In general, the import price, however, showed a slight decline. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Singapore ($X per ton) and South Korea ($X per ton), while the price for Thailand ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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