Vietnam: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Vietnam

The Vietnamese silicon dioxide market surged to $X in 2021, with an increase of 17% 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). Over the period under review, consumption showed a prominent increase. Silicon dioxide consumption peaked in 2021 and is expected to retain growth in the immediate term.

Silicon Dioxide Exports

Exports from Vietnam

In 2021, approx. X tons of silicon dioxide were exported from Vietnam; falling by -38.7% on the year before. Overall, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2015 when exports increased by 314%. The exports peaked at X tons in 2020, and then declined sharply in the following year.

In value terms, silicon dioxide exports declined rapidly to $X in 2021. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 338% against the previous year. The exports peaked at $X in 2020, and then reduced sharply in the following year.

Exports by Country

China (X tons), South Korea (X tons) and Germany (X tons) were the main destinations of silicon dioxide exports from Vietnam, together comprising 62% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +93.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Germany ($X) were the largest markets for silicon dioxide exported from Vietnam worldwide, together comprising 60% of total exports.

South Korea, with a CAGR of +97.8%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average silicon dioxide export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 18%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Singapore ($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 Malaysia (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Silicon Dioxide Imports

Imports into Vietnam

In 2021, purchases abroad of silicon dioxide increased by 7.3% to X tons, rising for the fourth year in a row after two years of decline. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 57% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, silicon dioxide imports surged to $X in 2021. Overall, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 32%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of silicon dioxide to Vietnam, with a 73% share of total imports. Moreover, silicon dioxide imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold. India (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+17.5% per year) and India (+4.9% per year).

In value terms, China ($X) constituted the largest supplier of silicon dioxide to Vietnam, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with an 8.7% share of total imports. It was followed by India, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.1% per year) and India (+9.9% per year).

Import Prices by Country

In 2021, the average silicon dioxide import price amounted to $X per ton, increasing by 13% against the previous year. In general, the import price posted a prominent increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 48% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, 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 India ($X per ton) and Japan ($X per ton), while the price for Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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