Report Update Nov 1, 2024

Vietnam - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Vietnam

The Vietnamese market for processed petroleum oils and distillates contracted to $X in 2022, waning by -10.6% 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). Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Vietnam

In 2022, the amount of processed petroleum oils and distillates exported from Vietnam fell to X tons, which is down by -9.7% compared with the year before. Overall, exports showed a mild setback. The pace of growth was the most pronounced in 2019 with an increase of 112%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports declined rapidly to $X in 2022. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 64% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for processed petroleum oils and distillates exports from Vietnam, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled +226.2%.

In value terms, Myanmar ($X) emerged as the key foreign market for processed petroleum oils and distillates exports from Vietnam.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to +192.2%.

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, falling by -10.8% against the previous year. Over the period under review, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 134% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to -2.4% per year.

Imports of Processed Petroleum Oils and Distillates

Imports into Vietnam

Processed petroleum oils and distillates imports into Vietnam declined to X tons in 2022, dropping by -10.5% on the previous year's figure. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +13.3% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 51% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, processed petroleum oils and distillates imports declined to $X in 2022. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Singapore (X tons), China (X tons) and Brunei Darussalam (X tons) were the main suppliers of processed petroleum oils and distillates imports to Vietnam, together accounting for 95% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +513.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and Brunei Darussalam ($X) were the largest processed petroleum oils and distillates suppliers to Vietnam, with a combined 95% share of total imports.

Among the main suppliers, Brunei Darussalam, with a CAGR of +436.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2017 when the average import price increased by 103% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Brunei Darussalam ($X per ton) and Singapore ($X per ton), while the price for China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for processed petroleum oils and distillates in the world?

The countries with the highest volumes of in 2021 were the United States, Saudi Arabia and Russia, with a combined 32% share of global consumption. Iraq, Canada, Iran, India, China, the United Arab Emirates, Brazil, Kuwait, Mexico and Venezuela lagged somewhat behind, together comprising a further 35%.

What are the largest producers of processed petroleum oils and distillates in the world?

The countries with the highest volumes of in 2021 were the United States, Saudi Arabia and Russia, with a combined 35% share of global production. These countries were followed by Iraq, India, Iran, Canada, China, the United Arab Emirates, Kuwait, Brazil, Venezuela and Mexico, which together accounted for a further 36%.

What are the leading suppliers of processed petroleum oils and distillates to Vietnam?

In value terms, the largest processed petroleum oils and distillates suppliers to Vietnam were Malaysia, Singapore and China, with a combined 68% share of total imports.

What are the leading importers of processed petroleum oils and distillates from Vietnam?

In value terms, Cambodia, China and Malaysia appeared to be the largest markets for processed petroleum oils and distillates exported from Vietnam worldwide, together comprising 77% of total exports. Lao People's Democratic Republic, Singapore, South Korea and Russia lagged somewhat behind, together accounting for a further 19%.

What is the average export price for processed petroleum oils and distillates in Vietnam?

The average export price for processed petroleum oils and distillates stood at $546 per ton in 2021, growing by 20% against the previous year.

What is the average import price for processed petroleum oils and distillates in Vietnam?

The average import price for processed petroleum oils and distillates stood at $508 per ton in 2021, picking up by 27% against the previous year.

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023