Vietnam: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Vietnam

In 2022, after four years of growth, there was significant decline in the Vietnamese non-rolled bitumen products market, when its value decreased by -13.3% to $X. Over the period under review, consumption, however, showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of non-rolled bitumen products, when their volume decreased by -10.8% to X tons. Over the period under review, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 913% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, non-rolled bitumen products exports fell remarkably to $X in 2022. Overall, exports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2020 with an increase of 1,164% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for non-rolled bitumen products exports from Vietnam, accounting for a 68% share of total exports. Moreover, non-rolled bitumen products exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), sevenfold. Qatar (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lao People's Democratic Republic amounted to +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-1.7% per year) and Qatar (+13.3% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for non-rolled bitumen products exports from Vietnam, comprising 65% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 14% share of total exports. It was followed by Qatar, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Lao People's Democratic Republic stood at +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+48.6% per year) and Qatar (+10.2% per year).

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, shrinking by -4.9% against the previous year. Overall, the export price saw a abrupt setback. The pace of growth appeared the most rapid in 2020 an increase of 25%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Cambodia ($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 Oman (+21.6%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Rolled Bitumen Products Imports

Imports into Vietnam

In 2022, after four years of growth, there was significant decline in purchases abroad of non-rolled bitumen products, when their volume decreased by -11.8% to X tons. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 380%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, non-rolled bitumen products imports contracted to $X in 2022. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 362% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and Canada (X tons) were the main suppliers of non-rolled bitumen products imports to Vietnam, together accounting for 49% of total imports. India, South Korea, Thailand, Turkey, Germany, the United States, Italy, Russia, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +70.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of non-rolled bitumen products to Vietnam, comprising 26% of total imports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total imports. It was followed by Canada, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.0% per year) and Canada (+15.9% per year).

Import Prices by Country

In 2022, the average non-rolled bitumen products import price amounted to $X per ton, dropping by -2.2% against the previous year. In general, the import price recorded a mild shrinkage. The growth pace was the most rapid in 2014 an increase of 9.2%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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