Vietnam: Polyacetals Market 2024

Polyacetals Market Size in Vietnam

For the third year in a row, the Vietnamese polyacetals market recorded growth in sales value, which increased by 24% to $X in 2021. Overall, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +111.5% against 2016 indices. Polyacetals consumption peaked in 2021 and is expected to retain growth in years to come.

Polyacetals Production in Vietnam

In value terms, polyacetals production amounted to $X in 2021 estimated in export price. In general, production showed a dramatic decline. The pace of growth was the most pronounced in 2015 when the production volume increased by 1% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Polyacetals Exports

Exports from Vietnam

In 2021, approx. X tons of polyacetals in primary forms were exported from Vietnam; growing by 34% compared with the previous year's figure. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 795% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyacetals exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 509% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for polyacetals exports from Vietnam, with a 78% share of total exports. Moreover, polyacetals exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was taken by Thailand (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +130.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+98.3% per year) and Thailand (+28.3% per year).

In value terms, China ($X) remains the key foreign market for polyacetals in primary forms exports from Vietnam, comprising 78% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 6.3% share of total exports. It was followed by Thailand, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +92.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+78.0% per year) and Thailand (+17.5% per year).

Export Prices by Country

The average polyacetals export price stood at $X per ton in 2021, rising by 15% against the previous year. Overall, the export price, however, saw a abrupt decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+1.6%), while the prices for the other major destinations experienced a decline.

Polyacetals Imports

Imports into Vietnam

In 2021, overseas purchases of polyacetals in primary forms increased by 8.5% to X tons, rising for the sixth year in a row after two years of decline. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 117%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, polyacetals imports soared to $X in 2021. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 139%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of polyacetals imports to Vietnam, together accounting for 64% of total imports. Thailand, Taiwan (Chinese), Japan and the United States lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +43.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Malaysia ($X) and China ($X) constituted the largest polyacetals suppliers to Vietnam, with a combined 64% share of total imports. These countries were followed by Thailand, Taiwan (Chinese), Japan and the United States, which together accounted for a further 32%.

In terms of the main suppliers, the United States, with a CAGR of +40.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyacetals import price stood at $X per ton in 2021, picking up by 15% against the previous year. In general, the import price, however, continues to indicate a slight contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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