Vietnam: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Vietnam

The Vietnamese potassium hydroxide market shrank modestly to $X in 2022, which is down by -3.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted prominent growth. Potassium hydroxide consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Potassium Hydroxide Exports

Exports from Vietnam

In 2022, overseas shipments of potassium hydroxide (caustic potash) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 158% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, potassium hydroxide exports soared to $X in 2022. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 190% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for potassium hydroxide exports from Vietnam, with a 37% share of total exports. Moreover, potassium hydroxide exports to Malaysia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+25.9% per year) and Thailand (+15.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for potassium hydroxide (caustic potash) exports from Vietnam, comprising 63% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Singapore, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+16.6% per year) and Singapore (+25.9% per year).

Export Prices by Country

The average potassium hydroxide export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price, however, saw a temperate increase. The most prominent rate of growth was recorded in 2014 an increase of 56%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 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 Malaysia ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Malaysia (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Hydroxide Imports

Imports into Vietnam

In 2022, imports of potassium hydroxide (caustic potash) into Vietnam reduced to X tons, approximately reflecting 2021. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 53% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, potassium hydroxide imports declined modestly to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 53%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of potassium hydroxide to Vietnam, with a 55% share of total imports. Moreover, potassium hydroxide imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.5% per year) and the United States (+37.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Vietnam, comprising 59% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by India, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.1% per year) and India (+43.3% per year).

Import Prices by Country

In 2022, the average potassium hydroxide import price amounted to $X per ton, dropping by -3.4% against the previous year. Overall, the import price saw a abrupt slump. The growth pace was the most rapid in 2015 an increase of 9.3% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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