Vietnam: Natural Polymers Market 2024

Natural Polymers Market Size in Vietnam

In 2021, the Vietnamese natural polymers market was finally on the rise to reach $X after two years of decline. In general, consumption, however, faced a abrupt contraction. Natural polymers consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Natural Polymers Production in Vietnam

In value terms, natural polymers production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 63% against the previous year. Natural polymers production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Natural Polymers Exports

Exports from Vietnam

In 2021, natural polymers exports from Vietnam soared to X tons, with an increase of 27% compared with the year before. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 343% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, natural polymers exports soared to $X in 2021. In general, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 186%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for natural polymers exports from Vietnam, accounting for a 94% share of total exports. Moreover, natural polymers exports to China exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at +107.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+37.8% per year) and Cambodia (-10.4% per year).

In value terms, China ($X) remains the key foreign market for natural and modified natural polymers in primary forms exports from Vietnam, comprising 85% of total exports. The second position in the ranking was held by Japan ($X), with a 7.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +106.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+42.5% per year) and Cambodia (-6.4% per year).

Export Prices by Country

In 2021, the average natural polymers export price amounted to $X per ton, falling by -4.7% against the previous year. Over the period under review, the export price showed a perceptible decline. The growth pace was the most rapid in 2018 an increase of 53% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Cote d'Ivoire (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Polymers Imports

Imports into Vietnam

Natural polymers imports into Vietnam surged to X tons in 2021, with an increase of 66% compared with the previous year's figure. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 73%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, natural polymers imports surged to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.8% 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 -14.2% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 58%. 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 tons) constituted the largest natural polymers supplier to Vietnam, with a 65% share of total imports. Moreover, natural polymers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by the Philippines (X tons), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+19.5% per year) and the Philippines (+29.3% per year).

In value terms, China ($X) constituted the largest supplier of natural and modified natural polymers in primary forms to Vietnam, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by the Philippines, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.4% per year) and the Philippines (+17.5% per year).

Import Prices by Country

In 2021, the average natural polymers import price amounted to $X per ton, declining by -28.1% against the previous year. Overall, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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