Vietnam: Market for Plastic Shutters And Blinds 2024

Market Size for Plastic Shutters And Blinds in Vietnam

After two years of growth, the Vietnamese plastic shutters and blinds market decreased by -9.2% to $X in 2022. Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.1% against 2019 indices. Plastic shutters and blinds consumption peaked at $X in 2021, and then dropped in the following year.

Production of Plastic Shutters And Blinds in Vietnam

In value terms, plastic shutters and blinds production rose significantly to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of 49%. Plastic shutters and blinds production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Plastic Shutters And Blinds

Exports from Vietnam

Plastic shutters and blinds exports from Vietnam skyrocketed to X units in 2022, growing by 51% on the previous year's figure. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 118% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, plastic shutters and blinds exports soared to $X in 2022. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2019 with an increase of 101% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for plastic shutters and blinds exports from Vietnam, accounting for a approx. 95% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +31.4%.

In value terms, the United States ($X) also remains the key foreign market for plastic shutters and blinds exports from Vietnam.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +34.7%.

Export Prices by Country

In 2022, the average plastic shutters and blinds export price amounted to $X per unit, waning by -10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2021 an increase of 18%. As a result, the export price attained the peak level of $X per unit, and then reduced in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +2.5% per year.

Imports of Plastic Shutters And Blinds

Imports into Vietnam

In 2022, supplies from abroad of plastic shutters and blinds was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 129% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic shutters and blinds imports rose markedly to $X in 2022. Over the period under review, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 150% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest plastic shutters and blinds supplier to Vietnam, with a 70% share of total imports. Moreover, plastic shutters and blinds imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+42.3% per year) and South Korea (+12.8% per year).

In value terms, China ($X) constituted the largest supplier of plastic shutters and blinds to Vietnam, comprising 68% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+45.5% per year) and South Korea (+17.5% per year).

Import Prices by Country

In 2022, the average plastic shutters and blinds import price amounted to $X per unit, surging by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2020 an increase of 18%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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