Vietnam: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2024

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Vietnam

In 2022, the Vietnamese nickel and lithium accumulators market decreased by -67.4% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, continues to indicate modest growth. Over the period under review, the market hit record highs at $X in 2021, and then declined rapidly in the following year.

Production of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Vietnam

In value terms, nickel and lithium accumulators production amounted to less than $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with a decrease of 99.9% against the previous year. Nickel and lithium accumulators production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Vietnam

For the seventh year in a row, Vietnam recorded growth in shipments abroad of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators, which increased by 61% to X units in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 100%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, nickel and lithium accumulators exports skyrocketed to $X in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X units), China (X units) and the United States (X units) were the main destinations of nickel and lithium accumulators exports from Vietnam, with a combined 34% share of total exports. Australia, Romania, India, South Korea, Japan, Ireland and Hong Kong SAR lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +388.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators exports from Vietnam, comprising 25% of total exports. The second position in the ranking was held by China ($X), with a 9.4% share of total exports. It was followed by Romania, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+26.3% per year) and Romania (+301.6% per year).

Export Prices by Country

In 2022, the average nickel and lithium accumulators export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 40%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.3%), while the prices for the other major destinations experienced a decline.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Vietnam

After five years of growth, overseas purchases of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators decreased by -0.1% to X units in 2022. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 305% against the previous year. Imports peaked at X units in 2021, and then contracted slightly in the following year.

In value terms, nickel and lithium accumulators imports dropped slightly to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 210% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of nickel and lithium accumulators to Vietnam, with a 75% share of total imports. Moreover, nickel and lithium accumulators imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+45.2% per year) and Germany (+125.4% per year).

In value terms, China ($X) constituted the largest supplier of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators to Vietnam, comprising 79% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +37.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.3% per year) and Hong Kong SAR (+34.8% per year).

Import Prices by Country

The average nickel and lithium accumulators import price stood at $X per unit in 2022, falling by -4.5% against the previous year. Overall, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2015 when the average import price increased by 65%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+21.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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