Vietnam: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in Vietnam

The Vietnamese mill rolling roll market declined dramatically to $X in 2022, reducing by -15.8% 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). Overall, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Mill Rolling Roll Exports

Exports from Vietnam

In 2022, overseas shipments of rolls for rolling mills decreased by -11.5% to X units for the first time since 2017, thus ending a four-year rising trend. In general, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when exports increased by 48%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mill rolling roll exports fell markedly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 301% against the previous year. As a result, the exports attained the peak of $X, and then fell sharply in the following year.

Exports by Country

Thailand (X units) was the main destination for mill rolling roll exports from Vietnam, with a 22% share of total exports. Moreover, mill rolling roll exports to Thailand exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by the Philippines (X units), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.2% per year) and the Philippines (0.0% per year).

In value terms, the largest markets for mill rolling roll exported from Vietnam were South Korea ($X), the United States ($X) and Japan ($X), together comprising 56% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +111.2%, saw the highest growth rate of the value of exports, 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 mill rolling roll export price amounted to $X per unit, which is down by -29.4% against the previous year. Overall, the export price, however, showed significant growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 286% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+111.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mill Rolling Roll Imports

Imports into Vietnam

In 2022, imports of rolls for rolling mills into Vietnam shrank to X units, with a decrease of -14.8% against 2021 figures. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 122% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, mill rolling roll imports fell significantly to $X in 2022. Overall, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 70%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest mill rolling roll supplier to Vietnam, with a 85% share of total imports. Moreover, mill rolling roll imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold. Thailand (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+25.4% per year) and Thailand (+11.4% per year).

In value terms, China ($X) constituted the largest supplier of rolls for rolling mills to Vietnam, comprising 63% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.3% per year) and Japan (+3.3% per year).

Import Prices by Country

In 2022, the average mill rolling roll import price amounted to $X per unit, shrinking by -2.4% against the previous year. In general, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 37%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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