Vietnam: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in Vietnam

The Vietnamese market for pure polyvinyl chloride in primary forms contracted remarkably to $X in 2022, which is down by -25.7% against the previous year. Over the period under review, consumption, however, showed moderate growth. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Production of Pure Polyvinyl Chloride in Primary Forms in Vietnam

In value terms, production of pure polyvinyl chloride in primary forms reduced notably to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 when the production volume increased by 121% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports from Vietnam

In 2022, overseas shipments of pure polyvinyl chloride in primary forms decreased by -16.7% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed perceptible growth. The pace of growth was the most pronounced in 2020 when exports increased by 565%. The exports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, exports of pure polyvinyl chloride in primary forms shrank markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2020 when exports increased by 523% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

India (X tons) was the main destination for exports of pure polyvinyl chloride in primary forms from Vietnam, accounting for a 89% share of total exports. Moreover, exports of pure polyvinyl chloride in primary forms to India exceeded the volume sent to the second major destination, Indonesia (X tons), more than tenfold. The third position in this ranking was held by Cambodia (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-14.2% per year) and Cambodia (+1.2% per year).

In value terms, India ($X) remains the key foreign market for pure polyvinyl chloride in primary forms exports from Vietnam, comprising 90% of total exports. The second position in the ranking was held by Indonesia ($X), with a 4.8% share of total exports. It was followed by Cambodia, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to India totaled +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-11.5% per year) and Cambodia (+3.7% per year).

Export Prices by Country

The average export price for pure polyvinyl chloride in primary forms stood at $X per ton in 2022, waning by -17.5% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for pure polyvinyl chloride in primary forms increased by +47.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 78% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Thailand ($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 Indonesia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports into Vietnam

After three years of growth, purchases abroad of pure polyvinyl chloride in primary forms decreased by -13% to X tons in 2022. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 39%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, imports of pure polyvinyl chloride in primary forms contracted rapidly to $X in 2022. Over the period under review, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 100% against the previous year. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of imports of pure polyvinyl chloride in primary forms to Vietnam, with a combined 73% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +40.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pure polyvinyl chloride in primary forms suppliers to Vietnam were China ($X), Taiwan (Chinese) ($X) and Japan ($X), together comprising 74% of total imports.

China, with a CAGR of +41.2%, recorded the highest growth rate of 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 import price for pure polyvinyl chloride in primary forms stood at $X per ton in 2022, with a decrease of -13.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 48% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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 Indonesia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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