Vietnam: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Vietnam

The Vietnamese reaction initiators and accelerators market expanded notably to $X in 2022, increasing by 8.7% 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). Over the period under review, consumption saw buoyant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the near future.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Vietnam

In 2022, reaction initiators and accelerators exports from Vietnam expanded sharply to X tons, picking up by 5.9% compared with the previous year. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of 249%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, reaction initiators and accelerators exports stood at $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 365% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), Indonesia (X tons) and South Korea (X tons) were the main destinations of reaction initiators and accelerators exports from Vietnam, with a combined 94% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +141.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Indonesia ($X) and South Korea ($X) were the largest markets for reaction initiators and accelerators exported from Vietnam worldwide, together accounting for 93% of total exports.

Indonesia, with a CAGR of +122.7%, 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

In 2022, the average reaction initiators and accelerators export price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 56%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Cambodia ($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 the Netherlands (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Vietnam

In 2022, the amount of reaction initiators, reaction accelerators and catalytic preparations imported into Vietnam expanded notably to X tons, picking up by 14% compared with the previous year. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 97% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, reaction initiators and accelerators imports stood at $X in 2022. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 67% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

South Korea (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of reaction initiators and accelerators imports to Vietnam, with a combined 55% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +63.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and China ($X) constituted the largest reaction initiators and accelerators suppliers to Vietnam, with a combined 67% share of total imports. The Netherlands, Japan, Germany, Italy, Taiwan (Chinese) and Kuwait lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Italy, with a CAGR of +51.7%, 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 reaction initiators and accelerators import price stood at $X per ton in 2022, which is down by -6% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, reaction initiators and accelerators import price increased by +51.0% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 39%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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