Vietnam: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Vietnam

For the third consecutive year, the Vietnamese reclaimed rubber market recorded growth in sales value, which increased by 2.8% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. Reclaimed rubber consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Reclaimed Rubber Production in Vietnam

In value terms, reclaimed rubber production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 103%. Reclaimed rubber production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Reclaimed Rubber Exports

Exports from Vietnam

After two years of growth, overseas shipments of reclaimed rubber decreased by -7.8% to X tons in 2021. Overall, exports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2014 with an increase of 178%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, reclaimed rubber exports declined to $X in 2021. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 189%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for reclaimed rubber exports from Vietnam, with a 66% share of total exports. Moreover, reclaimed rubber exports to China exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. Malaysia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+32.7% per year) and Malaysia (+7.2% per year).

In value terms, China ($X) remains the key foreign market for reclaimed rubber exports from Vietnam, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Thailand, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-0.6% per year) and Thailand (+30.4% per year).

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2020 when the average export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($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 China (+10.0%), while the prices for the other major destinations experienced a decline.

Reclaimed Rubber Imports

Imports into Vietnam

In 2021, after two years of decline, there was significant growth in overseas purchases of reclaimed rubber, when their volume increased by 12% to X tons. In general, imports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports rose significantly to $X in 2021. Over the period under review, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 16%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of reclaimed rubber to Vietnam, accounting for a 56% share of total imports. Moreover, reclaimed rubber imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.8% per year) and Malaysia (-0.3% per year).

In value terms, China ($X) constituted the largest supplier of reclaimed rubber to Vietnam, comprising 55% of total imports. The second position in the ranking was held by India ($X), with a 24% share of total imports. It was followed by Malaysia, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-9.0% per year) and Malaysia (-12.5% per year).

Import Prices by Country

In 2021, the average reclaimed rubber import price amounted to $X per ton, increasing by 2.1% against the previous year. In general, the import price, however, saw a deep slump. The most prominent rate of growth was recorded in 2014 an increase of 12%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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