Vietnam: Natural Quartz Crystal Market 2024

Natural Quartz Crystal Market Size in Vietnam

The Vietnamese natural quartz crystal market expanded remarkably to $X in 2022, rising by 5% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Natural Quartz Crystal Production in Vietnam

In value terms, natural quartz crystal production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Natural Quartz Crystal Exports

Exports from Vietnam

In 2022, shipments abroad of quartz crystal (natural) increased by 16% to X tons, rising for the third consecutive year after four years of decline. In general, exports showed a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 1,711% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, natural quartz crystal exports dropped rapidly to $X in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 718% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), the UK (X tons) and South Korea (X tons) were the main destinations of natural quartz crystal exports from Vietnam, with a combined 61% share of total exports. Taiwan (Chinese), the United States, Spain and India lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +60.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the United States ($X) and Spain ($X) were the largest markets for natural quartz crystal exported from Vietnam worldwide, together accounting for 76% of total exports. China, Taiwan (Chinese), India and South Korea lagged somewhat behind, together accounting for a further 19%.

Taiwan (Chinese), with a CAGR of +83.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average natural quartz crystal export price stood at $X per ton in 2022, declining by -32.4% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2019 an increase of 157%. The export price peaked at $X per ton in 2021, and then dropped sharply in the following year.

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 States ($X per ton), while the average price for exports to South Korea ($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 States (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Quartz Crystal Imports

Imports into Vietnam

In 2022, after five years of growth, there was significant decline in overseas purchases of quartz crystal (natural), when their volume decreased by -19.8% to X tons. In general, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 172% against the previous year. Imports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, natural quartz crystal imports fell remarkably to $X in 2022. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 132% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

India (X tons), China (X tons) and Turkey (X tons) were the main suppliers of natural quartz crystal imports to Vietnam, with a combined 94% share of total imports. Taiwan (Chinese) and Russia lagged somewhat behind, together comprising a further 2.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +34.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Taiwan (Chinese) ($X) constituted the largest natural quartz crystal suppliers to Vietnam, with a combined 89% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +38.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average natural quartz crystal import price stood at $X per ton in 2022, increasing by 1.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 31% 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 remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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