Vietnam: Fluorescent Brightening Agents Market 2024

Fluorescent Brightening Agents Market Size in Vietnam

The Vietnamese fluorescent brightening agents market fell modestly to $X in 2022, reducing by -2% 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). Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fluorescent Brightening Agents Exports

Exports from Vietnam

In 2022, approx. X tons of synthetic organic products used as fluorescent brightening agents were exported from Vietnam; which is down by -24.2% on the previous year. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 260%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted dramatically in the following year.

In value terms, fluorescent brightening agents exports dropped notably to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 159%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for fluorescent brightening agents exports from Vietnam, accounting for a 67% share of total exports. Moreover, fluorescent brightening agents exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+50.3% per year) and South Korea (+23.7% per year).

In value terms, Thailand ($X) remains the key foreign market for synthetic organic products used as fluorescent brightening agents exports from Vietnam, comprising 65% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by South Korea, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+66.0% per year) and South Korea (+28.9% per year).

Export Prices by Country

The average fluorescent brightening agents export price stood at $X per ton in 2022, increasing by 3.4% against the previous year. In general, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2018 when the average export price increased by 109%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($X per ton) and Indonesia ($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 Indonesia (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fluorescent Brightening Agents Imports

Imports into Vietnam

After three years of growth, overseas purchases of synthetic organic products used as fluorescent brightening agents decreased by -6.9% to X tons in 2022. In general, imports, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 111%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, fluorescent brightening agents imports dropped modestly to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 55% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of fluorescent brightening agents to Vietnam, with a 67% share of total imports. Moreover, fluorescent brightening agents imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-4.1% per year) and South Korea (+0.8% per year).

In value terms, China ($X) constituted the largest supplier of synthetic organic products used as fluorescent brightening agents to Vietnam, comprising 59% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by South Korea, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.2% per year) and South Korea (+7.2% per year).

Import Prices by Country

In 2022, the average fluorescent brightening agents import price amounted to $X per ton, increasing by 7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 an increase of 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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