Vietnam: Phosphinates And Phosphonates Market 2024

Phosphinates And Phosphonates Market Size in Vietnam

The Vietnamese phosphinates and phosphonates market declined to $X in 2022, dropping by -12.2% against the previous year. Over the period under review, consumption recorded a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phosphinates And Phosphonates Production in Vietnam

In value terms, phosphinates and phosphonates production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by 19%. Phosphinates and phosphonates production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Phosphinates And Phosphonates Exports

Exports from Vietnam

In 2021, overseas shipments of phosphinates (hypophosphites) and phosphonates (phosphites) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports enjoyed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, phosphinates and phosphonates exports surged to $X in 2021. Overall, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons), Thailand (X tons) and Cambodia (X tons) were the main destinations of phosphinates and phosphonates exports from Vietnam.

From 2014 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +190.9%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Cambodia ($X) constituted the largest markets for phosphinates and phosphonates exported from Vietnam worldwide.

Cambodia, with a CAGR of +306.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phosphinates and phosphonates export price stood at $X per ton in 2021, increasing by 40% against the previous year. In general, export price indicated a perceptible increase from 2014 to 2021: its price increased at an average annual rate of +3.7% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, phosphinates and phosphonates export price increased by +33.7% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+39.7%), while the prices for the other major destinations experienced mixed trend patterns.

Phosphinates And Phosphonates Imports

Imports into Vietnam

In 2022, approx. X tons of phosphinates (hypophosphites) and phosphonates (phosphites) were imported into Vietnam; surging by 3.2% compared with 2021. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 510% against the previous year. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, phosphinates and phosphonates imports dropped to $X in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 392%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of phosphinates and phosphonates to Vietnam, accounting for a 55% share of total imports. Moreover, phosphinates and phosphonates imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was taken by Thailand (X tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +55.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+146.7% per year) and Thailand (+50.7% per year).

In value terms, China ($X) constituted the largest supplier of phosphinates (hypophosphites) and phosphonates (phosphites) to Vietnam, comprising 64% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.6% share of total imports. It was followed by Italy, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +52.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+127.8% per year) and Italy (+237.3% per year).

Import Prices by Country

In 2022, the average phosphinates and phosphonates import price amounted to $X per ton, shrinking by -15.4% against the previous year. In general, the import price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43%. The import price peaked at $X per ton in 2012; however, from 2013 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 China ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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