Vietnam: Safes And Strongboxes Market 2025

Safes And Strongboxes Market Size in Vietnam

The Vietnamese safes and strongboxes market dropped to $X in 2021, which is down by -2.2% against the previous year. Overall, consumption showed a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Safes And Strongboxes Production in Vietnam

In value terms, safes and strongboxes production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 54% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Safes And Strongboxes Exports

Exports from Vietnam

In 2021, approx. X tons of safes, strongboxes and doors of base metal were exported from Vietnam; jumping by 34% against 2020. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 47%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, safes and strongboxes exports surged to $X in 2021. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Iraq (X tons) were the main destinations of safes and strongboxes exports from Vietnam, together accounting for 81% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +53.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for safes, strongboxes and doors of base metal exports from Vietnam, comprising 46% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Iraq, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +51.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.7% per year) and Iraq (+28.0% per year).

Export Prices by Country

In 2021, the average safes and strongboxes export price amounted to $X per ton, which is down by -11.6% against 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 2018 when the average export price increased by 21%. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United Arab Emirates ($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 Yemen (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Safes And Strongboxes Imports

Imports into Vietnam

After six years of growth, purchases abroad of safes, strongboxes and doors of base metal decreased by -12.7% to X tons in 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 75% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, safes and strongboxes imports declined to $X in 2021. Overall, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 73%. Over the period under review, imports reached the peak figure at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest safes and strongboxes supplier to Vietnam, with a 86% share of total imports. Moreover, safes and strongboxes imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-0.8% per year) and Germany (+16.5% per year).

In value terms, China ($X) constituted the largest supplier of safes, strongboxes and doors of base metal to Vietnam, comprising 86% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.1% share of total imports. It was followed by Germany, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.3% per year) and Germany (+17.8% per year).

Import Prices by Country

In 2021, the average safes and strongboxes import price amounted to $X per ton, growing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2014 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and China ($X per ton), while the price for Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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