Vietnam: Market for Caustic Soda in the Solid Form 2024

Market Size for Caustic Soda in the Solid Form in Vietnam

In 2021, the Vietnamese market for caustic soda in the solid form increased by 5.8% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -35.3% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Caustic Soda in the Solid Form

Exports from Vietnam

In 2021, the amount of caustic soda in the solid form exported from Vietnam soared to X tons, surging by 106% against the previous year. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 215%. Over the period under review, the exports of caustic soda in solid form attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of caustic soda in the solid form soared to $X in 2021. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 195%. Over the period under review, the exports of caustic soda in solid form reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for exports of caustic soda in the solid form from Vietnam, with a 54% share of total exports. Moreover, exports of caustic soda in the solid form to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), twofold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic amounted to +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+10.4% per year) and Hong Kong SAR (0.0% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for caustic soda in the solid form exports from Vietnam, comprising 54% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 27% share of total exports. It was followed by Hong Kong SAR, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic totaled +46.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+13.6% per year) and Hong Kong SAR (0.0% per year).

Export Prices by Country

The average export price for caustic soda in the solid form stood at $X per ton in 2021, with an increase of 1.9% against the previous year. Overall, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for caustic soda in the solid form decreased by -25.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Lao People's Democratic Republic ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to South Korea ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+5.0%).

Imports of Caustic Soda in the Solid Form

Imports into Vietnam

In 2021, approx. X tons of caustic soda in the solid form were imported into Vietnam; stabilizing at 2020 figures. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by +0.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 48%. Over the period under review, imports of caustic soda in solid form hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of caustic soda in the solid form totaled $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 64% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of caustic soda in the solid form to Vietnam, with a 54% share of total imports. Moreover, imports of caustic soda in the solid form from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by India (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+9.1% per year) and India (+81.0% per year).

In value terms, China ($X) constituted the largest supplier of caustic soda in the solid form to Vietnam, comprising 54% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 23% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.3% per year) and India (+74.8% per year).

Import Prices by Country

The average import price for caustic soda in the solid form stood at $X per ton in 2021, surging by 9.5% against the previous year. Overall, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and Bangladesh ($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 (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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