Vietnam: Stranded Wire Market 2025

Stranded Wire Market Size in Vietnam

The Vietnamese stranded wire market fell significantly to $X in 2021, dropping by -82.9% against the previous year. In general, consumption faced a deep reduction. Stranded wire consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Stranded Wire Production in Vietnam

In value terms, stranded wire production totaled $X in 2021 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Stranded Wire Exports

Exports from Vietnam

In 2021, the amount of stranded wire, ropes and cables exported from Vietnam surged to X tons, jumping by 74% compared with the previous year's figure. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 114% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, stranded wire exports skyrocketed to $X in 2021. Over the period under review, exports showed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for stranded wire exports from Vietnam, with a 28% share of total exports. Moreover, stranded wire exports to the United States exceeded the volume sent to the second major destination, Luxembourg (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+31.6% per year) and South Korea (+10.3% per year).

In value terms, the United States ($X) remains the key foreign market for stranded wire, ropes and cables exports from Vietnam, comprising 29% of total exports. The second position in the ranking was held by the Philippines ($X), with a 9.2% share of total exports. It was followed by South Korea, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+99.7% per year) and South Korea (+13.1% per year).

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2021, growing by 10% against the previous year. In general, the export price, however, saw a pronounced decrease. The growth pace was the most rapid in 2018 an increase of 16% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 the Philippines ($X per ton), while the average price for exports to Luxembourg ($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 Philippines (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into Vietnam

In 2021, the amount of stranded wire, ropes and cables imported into Vietnam rose rapidly to X tons, picking up by 8.2% against 2020. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.1% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 33%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, stranded wire imports skyrocketed to $X in 2021. In general, imports enjoyed prominent growth. The growth pace was the most rapid in 2015 when imports increased by 27% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest stranded wire supplier to Vietnam, accounting for a 74% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. The third position in this ranking was held by South Korea (X tons), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+12.0% per year) and South Korea (+0.3% per year).

In value terms, China ($X) constituted the largest supplier of stranded wire, ropes and cables to Vietnam, comprising 71% of total imports. The second position in the ranking was held by Thailand ($X), with a 9.8% share of total imports. It was followed by South Korea, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+17.3% per year) and South Korea (+3.9% per year).

Import Prices by Country

The average stranded wire import price stood at $X per ton in 2021, surging by 16% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stranded wire import price increased by +11.3% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 76%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Malaysia ($X per ton), while the price for Indonesia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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