Vietnam: Seat Market 2025

Seat Market Size in Vietnam

In 2021, the Vietnamese seat market decreased by -79% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption recorded a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Seat Production in Vietnam

In value terms, seat production shrank markedly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a tangible increase. The growth pace was the most rapid in 2020 when the production volume increased by 58%. As a result, production reached the peak level of $X, and then fell markedly in the following year.

Seat Exports

Exports from Vietnam

In 2021, shipments abroad of seats increased by 22% to X tons, rising for the third year in a row after three years of decline. Overall, exports saw a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 94% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, seat exports soared to $X in 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 101%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for seat exports from Vietnam, with a 37% share of total exports. Moreover, seat exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), tenfold. The third position in this ranking was held by South Korea (X tons), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+13.9% per year) and South Korea (+14.9% per year).

In value terms, the United States ($X) remains the key foreign market for seats exports from Vietnam, comprising 39% of total exports. The second position in the ranking was held by Japan ($X), with a 2.2% share of total exports. It was followed by Germany, with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+14.5% per year) and Germany (+1.6% per year).

Export Prices by Country

In 2021, the average seat export price amounted to $X per ton, jumping by 18% against the previous year. In general, the export price showed resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 33% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Poland ($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 the United States (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports

Imports into Vietnam

In 2021, approx. X tons of seats were imported into Vietnam; picking up by 6.1% against 2020 figures. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 77%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, seat imports declined to $X in 2021. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 69%. Imports peaked at $X in 2020, and then fell slightly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest seat supplier to Vietnam, accounting for a 23% share of total imports. Moreover, seat imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+74.8% per year) and Thailand (-4.9% per year).

In value terms, China ($X) constituted the largest supplier of seats to Vietnam, comprising 19% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.5% share of total imports. It was followed by Japan, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+11.3% per year) and Japan (+21.6% per year).

Import Prices by Country

The average seat import price stood at $X per ton in 2021, waning by -6.5% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, seat import price increased by +50.0% against 2014 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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 (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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