Vietnam: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Vietnam

The Vietnamese plastic reservoir market contracted significantly to $X in 2022, declining by -28.7% 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). Overall, consumption, however, continues to indicate noticeable growth. Plastic reservoir consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Plastic Reservoir Exports

Exports from Vietnam

In 2022, shipments abroad of plastic reservoirs, tanks and vats was finally on the rise to reach X tons after two years of decline. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 175%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports rose slightly to $X in 2022. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2017 when exports increased by 123%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for plastic reservoir exports from Vietnam, with a 58% share of total exports. Moreover, plastic reservoir exports to Australia exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia totaled +55.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+54.3% per year) and the UK (+53.6% per year).

In value terms, Australia ($X) remains the key foreign market for plastic reservoirs, tanks and vats exports from Vietnam, comprising 45% of total exports. The second position in the ranking was held by Turkey ($X), with a 16% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia totaled +56.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+14.9% per year) and the UK (+71.0% per year).

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, dropping by -5.4% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 48%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped in the following year.

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 Malaysia ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Reservoir Imports

Imports into Vietnam

In 2022, the amount of plastic reservoirs, tanks and vats imported into Vietnam fell dramatically to X tons, waning by -22.7% compared with the year before. Overall, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 108%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic reservoir imports declined notably to $X in 2022. In general, imports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by 98%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Russia (X tons) and South Korea (X tons) were the main suppliers of plastic reservoir imports to Vietnam, with a combined 72% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +33.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Vietnam were China ($X), Russia ($X) and Malaysia ($X), together comprising 71% of total imports. South Korea, Indonesia, Thailand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 21%.

Indonesia, with a CAGR of +27.2%, recorded 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 plastic reservoir import price stood at $X per ton in 2022, declining by -2.6% against the previous year. Overall, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 13% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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