Vietnam: Market for Sulphides, Polysulphides, Dithionites And Sulphoxylates 2024

Market Size for Sulphides, Polysulphides, Dithionites And Sulphoxylates in Vietnam

The Vietnamese sulphides, dithionites and sulphoxylates market rose notably to $X in 2022, increasing by 15% 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 resilient growth. Sulphides, dithionites and sulphoxylates consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Exports from Vietnam

In 2022, overseas shipments of sulphides, polysulphides, dithionites and sulphoxylates decreased by -2.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2016 when exports increased by 360% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped slightly in the following year.

In value terms, sulphides, dithionites and sulphoxylates exports totaled $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 318%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for sulphides, dithionites and sulphoxylates exports from Vietnam, with a 62% share of total exports. Moreover, sulphides, dithionites and sulphoxylates exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume to Lao People's Democratic Republic totaled +39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+25.1% per year) and Indonesia (+5.1% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for sulphides, polysulphides, dithionites and sulphoxylates exports from Vietnam, comprising 65% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 27% share of total exports. It was followed by Indonesia, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to Lao People's Democratic Republic amounted to +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+23.3% per year) and Indonesia (-0.1% per year).

Export Prices by Country

In 2022, the average sulphides, dithionites and sulphoxylates export price amounted to $X per ton, rising by 3% against the previous year. In general, the export price, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2020 an increase of 60% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Lao People's Democratic Republic ($X per ton) and Indonesia ($X per ton), while the average price for exports to Cambodia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Imports into Vietnam

Sulphides, dithionites and sulphoxylates imports into Vietnam totaled X tons in 2022, growing by 15% on the previous year's figure. Overall, imports saw prominent growth. The growth pace was the most rapid in 2016 when imports increased by 46% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sulphides, dithionites and sulphoxylates imports expanded significantly to $X in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 38% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of sulphides, dithionites and sulphoxylates to Vietnam, with a 80% share of total imports. Moreover, sulphides, dithionites and sulphoxylates imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. South Korea (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+26.2% per year) and South Korea (+7.9% per year).

In value terms, China ($X) constituted the largest supplier of sulphides, polysulphides, dithionites and sulphoxylates to Vietnam, comprising 73% of total imports. The second position in the ranking was held by India ($X), with a 10% share of total imports. It was followed by South Korea, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.6% per year) and South Korea (+4.1% per year).

Import Prices by Country

The average sulphides, dithionites and sulphoxylates import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Germany ($X per ton), while the price for China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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