Vietnam: Cellulose Fibrecement Sheet Market 2024

Cellulose Fibrecement Sheet Market Size in Vietnam

In 2022, after eight years of decline, there was significant growth in the Vietnamese cellulose fibrecement sheet market, when its value increased by 7.4% to $X. Over the period under review, consumption, however, recorded a abrupt decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Cellulose Fibrecement Sheet Production in Vietnam

In value terms, cellulose fibrecement sheet production amounted to $X in 2022 estimated in export price. Overall, production, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 61%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Cellulose Fibrecement Sheet Exports

Exports from Vietnam

Cellulose fibrecement sheet exports from Vietnam dropped notably to X tons in 2022, which is down by -15.8% compared with 2021 figures. Overall, exports, however, showed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 588%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cellulose fibrecement sheet exports fell to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 962% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Pakistan (X tons), Benin (X tons) and Singapore (X tons) were the main destinations of cellulose fibrecement sheet exports from Vietnam, together accounting for 81% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +103.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cellulose fibrecement sheet exported from Vietnam were Singapore ($X), Benin ($X) and Mozambique ($X), with a combined 64% share of total exports. Pakistan, Lao People's Democratic Republic, Japan, Togo and India lagged somewhat behind, together accounting for a further 26%.

Pakistan, with a CAGR of +96.3%, recorded the highest growth rate of 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

The average cellulose fibrecement sheet export price stood at $X per ton in 2022, surging by 7.5% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cellulose fibrecement sheet export price decreased by -26.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 54%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 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 Japan ($X per ton), while the average price for exports to Pakistan ($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 Lao People's Democratic Republic (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cellulose Fibrecement Sheet Imports

Imports into Vietnam

In 2022, purchases abroad of sheets, panels and tiles of cellulose fibrecement increased by 13% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted notable growth. The most prominent rate of growth was recorded in 2013 with an increase of 93% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, cellulose fibrecement sheet imports expanded significantly to $X in 2022. In general, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 47%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest cellulose fibrecement sheet supplier to Vietnam, accounting for a 77% share of total imports. Moreover, cellulose fibrecement sheet imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold. The third position in this ranking was taken by Indonesia (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.8% per year) and Indonesia (+26.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of sheets, panels and tiles of cellulose fibrecement to Vietnam, comprising 75% of total imports. The second position in the ranking was taken by Malaysia ($X), with an 11% share of total imports. It was followed by Indonesia, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand amounted to +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-7.5% per year) and Indonesia (+34.3% per year).

Import Prices by Country

In 2022, the average cellulose fibrecement sheet import price amounted to $X per ton, declining by -2.8% against the previous year. Overall, the import price, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 86% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Indonesia ($X per ton), while the price for Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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