Vietnam: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Vietnam

The Vietnamese polymethyl methacrylate market fell to $X in 2022, which is down by -5.9% against the previous year. Over the period under review, consumption, however, saw a mild expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Polymethyl Methacrylate Production in Vietnam

In value terms, polymethyl methacrylate production shrank to $X in 2022 estimated in export price. In general, production saw a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 204%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Vietnam

Polymethyl methacrylate exports from Vietnam surged to X tons in 2022, with an increase of 20% on 2021. Over the period under review, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 when exports increased by 62%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, polymethyl methacrylate exports shrank to $X in 2022. In general, exports showed a mild increase. The most prominent rate of growth was recorded in 2019 with an increase of 35% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

China (X tons) was the main destination for polymethyl methacrylate exports from Vietnam, accounting for a 66% share of total exports. Moreover, polymethyl methacrylate exports to China exceeded the volume sent to the second major destination, Myanmar (X tons), sixfold. The third position in this ranking was taken by Singapore (X tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +41.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+29.4% per year) and Singapore (-1.3% per year).

In value terms, China ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Vietnam, comprising 55% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 13% share of total exports. It was followed by Singapore, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+18.1% per year) and Singapore (-6.6% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, declining by -23% against the previous year. In general, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 29% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to China ($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 Thailand (-0.1%), while the prices for the other major destinations experienced a decline.

Polymethyl Methacrylate Imports

Imports into Vietnam

In 2022, supplies from abroad of polymethyl methacrylate in primary forms decreased by -0.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw a resilient increase. The growth pace was the most rapid in 2015 with an increase of 59% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, polymethyl methacrylate imports dropped to $X in 2022. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest polymethyl methacrylate supplier to Vietnam, accounting for a 33% share of total imports. Moreover, polymethyl methacrylate imports from South Korea exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea totaled +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+11.4% per year) and Thailand (+5.7% per year).

In value terms, South Korea ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Vietnam, comprising 33% of total imports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+10.0% per year) and Thailand (+3.6% per year).

Import Prices by Country

In 2022, the average polymethyl methacrylate import price amounted to $X per ton, with a decrease of -4.5% against the previous year. Over the period under review, the import price saw a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 18%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Indonesia ($X per ton), while the price for China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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