Vietnam: Market for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning 2024

Market Size for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Vietnam

In 2021, the Vietnamese market for other synthetic tow and staple not carded, combed or otherwise processed for spinning was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -29.7% against 2017 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Vietnam

In value terms, production of other synthetic tow and staple not carded, combed or otherwise processed for spinning rose remarkably to $X in 2021 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.3% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 108% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth failed to regain momentum.

Exports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Exports from Vietnam

In 2021, shipments abroad of other synthetic tow and staple not carded, combed or otherwise processed for spinning increased by 42% to X tons, rising for the fifth consecutive year after three years of decline. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2013 when exports increased by 257%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2013 when exports increased by 389%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Vietnam, with a 77% share of total exports. Moreover, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning to the UK exceeded the volume sent to the second major destination, Bangladesh (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+7.9% per year) and the United States (+68.2% per year).

In value terms, the UK ($X) remains the key foreign market for other synthetic tow and staple not carded, combed or otherwise processed for spinning exports from Vietnam, comprising 76% of total exports. The second position in the ranking was taken by the United States ($X), with a 5.5% share of total exports. It was followed by China, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+48.8% per year) and China (+41.6% per year).

Export Prices by Country

In 2021, the average export price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, approximately mirroring the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for other synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by -39.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 62% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 Canada (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Imports into Vietnam

In 2021, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning into Vietnam expanded remarkably to X tons, rising by 7.3% on the year before. Over the period under review, imports continue to indicate a slight increase. The most prominent rate of growth was recorded in 2016 when imports increased by 114% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning shrank slightly to $X in 2021. Overall, imports enjoyed a modest expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 136%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest other synthetic tow and staple not carded, combed or otherwise processed for spinning supplier to Vietnam, accounting for a 56% share of total imports. Moreover, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+17.9% per year) and Indonesia (+48.0% per year).

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest other synthetic tow and staple not carded, combed or otherwise processed for spinning suppliers to Vietnam, together accounting for 84% of total imports.

Japan, with a CAGR of +23.9%, 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 import price for other synthetic tow and staple not carded, combed or otherwise processed for spinning stood at $X per ton in 2021, dropping by -8.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 39%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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