Vietnam: Market for Plasticised Mixed Polyvinyl Chloride in Primary Forms 2024

Market Size for Plasticised Mixed Polyvinyl Chloride in Primary Forms in Vietnam

In 2022, the Vietnamese market for plasticised mixed polyvinyl chloride in primary forms decreased by -13.7% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption, however, enjoyed a measured increase. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Plasticised Mixed Polyvinyl Chloride in Primary Forms in Vietnam

In value terms, production of plasticised mixed polyvinyl chloride in primary forms soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 93% against the previous year. Over the period under review, production of hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Plasticised Mixed Polyvinyl Chloride in Primary Forms

Exports from Vietnam

In 2022, shipments abroad of plasticised mixed polyvinyl chloride in primary forms decreased by -8.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by 68% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, exports of plasticised mixed polyvinyl chloride in primary forms dropped notably to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by 97%. Over the period under review, the exports of attained the peak figure at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Thailand (X tons), Bangladesh (X tons) and China (X tons) were the main destinations of exports of plasticised mixed polyvinyl chloride in primary forms from Vietnam, with a combined 42% share of total exports. Australia, India, Sri Lanka, South Korea, Pakistan, the Philippines, Myanmar, Malaysia, Iraq and Indonesia lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +61.3%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Bangladesh ($X) and India ($X) were the largest markets for plasticised mixed polyvinyl chloride in primary forms exported from Vietnam worldwide, together accounting for 45% of total exports. China, Australia, Sri Lanka, Pakistan, the Philippines, South Korea, Malaysia, Indonesia, Myanmar and Iraq lagged somewhat behind, together comprising a further 38%.

South Korea, with a CAGR of +63.2%, saw the highest rates of growth with regard to 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 export price for plasticised mixed polyvinyl chloride in primary forms stood at $X per ton in 2022, dropping by -8.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 23%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Myanmar ($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 India (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plasticised Mixed Polyvinyl Chloride in Primary Forms

Imports into Vietnam

In 2022, after five years of growth, there was significant decline in overseas purchases of plasticised mixed polyvinyl chloride in primary forms, when their volume decreased by -26.7% to X tons. Over the period under review, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 79% against the previous year. Imports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, imports of plasticised mixed polyvinyl chloride in primary forms fell significantly to $X in 2022. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 88%. Over the period under review, imports of reached the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plasticised mixed polyvinyl chloride in primary forms supplier to Vietnam, with a 50% share of total imports. Moreover, imports of plasticised mixed polyvinyl chloride in primary forms from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.4% per year) and Taiwan (Chinese) (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of plasticised mixed polyvinyl chloride in primary forms to Vietnam, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Thailand, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +40.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+8.6% per year) and Thailand (+16.1% per year).

Import Prices by Country

The average import price for plasticised mixed polyvinyl chloride in primary forms stood at $X per ton in 2022, picking up by 9.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 17%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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