Vietnam: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Vietnam

The Vietnamese plastic ornamental articles market declined remarkably to $X in 2022, which is down by -16.7% against the previous year. Over the period under review, consumption continues to indicate a abrupt contraction. Plastic ornamental articles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Ornamental Articles Production in Vietnam

In value terms, plastic ornamental articles production fell sharply to $X in 2022 estimated in export price. In general, production saw a abrupt setback. The pace of growth was the most pronounced in 2021 when the production volume increased by 90% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Vietnam

Plastic ornamental articles exports from Vietnam surged to X tons in 2022, picking up by 39% against the previous year. Overall, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -22.7% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 65%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, plastic ornamental articles exports skyrocketed to $X in 2022. In general, exports recorded a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by 77% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of plastic ornamental articles exports from Vietnam, together accounting for 62% 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 the United States (with a CAGR of +33.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic ornamental articles exported from Vietnam were the United States ($X), France ($X) and Germany ($X), together comprising 62% of total exports.

The United States, with a CAGR of +34.9%, 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 plastic ornamental articles export price stood at $X per ton in 2022, waning by -14.9% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +54.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 31% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Denmark ($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 Japan (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Vietnam

Plastic ornamental articles imports into Vietnam skyrocketed to X tons in 2022, rising by 94% compared with 2021. Over the period under review, imports recorded a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by 258% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic ornamental articles imports surged to $X in 2022. In general, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 229% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic ornamental articles to Vietnam, accounting for a 70% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. The third position in this ranking was taken by Cambodia (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.9% per year) and Cambodia (+45.4% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Vietnam, comprising 71% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Cambodia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+18.5% per year) and Cambodia (+46.5% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, which is down by -15.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27%. As a result, import price reached the peak level of $X per ton, and then dropped markedly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per ton) and Japan ($X per ton), while the price for South Korea ($X per ton) and Cambodia ($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 (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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