Vietnam: Prepared Binders Market 2024

Prepared Binders Market Size in Vietnam

The Vietnamese prepared binders market surged to $X in 2021, with an increase of 17% 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 continues to indicate prominent growth. Prepared binders consumption peaked in 2021 and is likely to continue growth in the immediate term.

Prepared Binders Exports

Exports from Vietnam

In 2021, after four years of growth, there was decline in shipments abroad of prepared binders for foundry moulds or cores, when their volume decreased by -1.2% to X tons. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 635%. Over the period under review, the exports reached the maximum at X tons in 2020, and then contracted modestly in the following year.

In value terms, prepared binders exports skyrocketed to $X in 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 914%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Thailand (X tons), Saudi Arabia (X tons) and Japan (X tons) were the main destinations of prepared binders exports from Vietnam, with a combined 26% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +163.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Vietnam, comprising 24% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.9% share of total exports. It was followed by Togo, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +179.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+153.5% per year) and Togo (0.0% per year).

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, rising by 19% against the previous year. Overall, the export price continues to indicate temperate growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+41.0%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Vietnam

For the sixth consecutive year, Vietnam recorded growth in overseas purchases of prepared binders for foundry moulds or cores, which increased by 17% to X tons in 2021. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 53% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, prepared binders imports rose rapidly to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.9% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 49% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest prepared binders supplier to Vietnam, with a 41% share of total imports. Moreover, prepared binders imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+45.4% per year) and Thailand (+55.5% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Vietnam, comprising 42% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports. It was followed by Thailand, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+31.4% per year) and Thailand (+40.4% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, with a decrease of -2.9% against the previous year. In general, the import price recorded a deep downturn. The growth pace was the most rapid in 2013 an increase of 2.5%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :