Vietnam: Market for Pulp From Fibres Other Than Wood 2024

Market Size for Pulp From Fibres Other Than Wood in Vietnam

In 2022, the Vietnamese market for pulp from fibres other than wood decreased by -2.8% to $X for the first time since 2015, thus ending a six-year rising trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 7.4%. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Production of Pulp From Fibres Other Than Wood in Vietnam

In value terms, production of pulp from fibres other than wood reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 14% against the previous year. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Pulp From Fibres Other Than Wood

Exports from Vietnam

In 2022, the amount of pulp from fibres other than wood exported from Vietnam dropped remarkably to X tons, with a decrease of -26.9% compared with the year before. Over the period under review, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2018 when exports increased by 8,950%. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of pulp from fibres other than wood dropped dramatically to $X in 2022. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 34,790% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), South Korea (X tons) and Switzerland (X tons) were the main destinations of exports of pulp from fibres other than wood from Vietnam, together accounting for 99.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +17.6%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for pulp from fibres other than wood exports from Vietnam, comprising 96% of total exports. The second position in the ranking was held by China ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea stood at +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-20.3% per year) and Switzerland (0.0% per year).

Export Prices by Country

The average export price for pulp from fibres other than wood stood at $X per ton in 2022, shrinking by -30.3% against the previous year. Over the period under review, the export price, however, saw a strong increase. The growth pace was the most rapid in 2021 an increase of 2,003% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 the United Arab Emirates (+89.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pulp From Fibres Other Than Wood

Imports into Vietnam

In 2022, approx. X tons of pulp from fibres other than wood were imported into Vietnam; with a decrease of -41.6% compared with the previous year's figure. Over the period under review, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2021 when imports increased by 243%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of pulp from fibres other than wood dropped rapidly to $X in 2022. In general, imports saw a pronounced decline. The growth pace was the most rapid in 2021 with an increase of 263%. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest pulp from fibres other than wood supplier to Vietnam, with a 40% share of total imports. Moreover, imports of pulp from fibres other than wood from China exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was held by Canada (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (0.0% per year) and Canada (+52.6% per year).

In value terms, China ($X), Hungary ($X) and Germany ($X) constituted the largest pulp from fibres other than wood suppliers to Vietnam, together comprising 64% of total imports.

China, with a CAGR of +31.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for pulp from fibres other than wood amounted to $X per ton, with an increase of 9.2% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for pulp from fibres other than wood increased by +15.5% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 77% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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