Vietnam: Talc And Steatite Market 2024

Talc And Steatite Market Size in Vietnam

In 2022, the Vietnamese talc and steatite market decreased by -4.9% to $X for the first time since 2011, thus ending a ten-year rising trend. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +56.9% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2021, and then contracted modestly in the following year.

Talc And Steatite Production in Vietnam

In value terms, talc and steatite production stood at $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 83%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Talc And Steatite Exports

Exports from Vietnam

In 2022, exports of talc and steatite from Vietnam dropped to X tons, declining by -6.7% on the year before. Overall, exports saw a dramatic downturn. The growth pace was the most rapid in 2019 with an increase of 485%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, talc and steatite exports reduced to $X in 2022. Over the period under review, exports recorded a precipitous slump. The pace of growth appeared the most rapid in 2019 with an increase of 472%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Morocco (X tons), the United States (X tons) and Cambodia (X tons) were the main destinations of talc and steatite exports from Vietnam, with a combined 67% share of total exports. Malaysia, South Korea, Indonesia and Hong Kong SAR lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +4.4%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X) remains the key foreign market for talc and steatite exports from Vietnam, comprising 42% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Morocco, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cambodia amounted to +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Morocco (+1.8% per year).

Export Prices by Country

In 2022, the average talc and steatite export price amounted to $X per ton, picking up by 3.2% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +11.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, talc and steatite export price decreased by -4.7% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 120% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Morocco ($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 Cambodia (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Talc And Steatite Imports

Imports into Vietnam

In 2022, supplies from abroad of talc and steatite was finally on the rise to reach X tons after two years of decline. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 37%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, talc and steatite imports contracted slightly to $X in 2022. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2013 with an increase of 18%. Imports peaked at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest talc and steatite supplier to Vietnam, accounting for a 76% share of total imports. Moreover, talc and steatite imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. South Korea (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.9% per year) and South Korea (+15.4% per year).

In value terms, China ($X) constituted the largest supplier of talc and steatite to Vietnam, comprising 64% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by South Korea, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.6% per year) and South Korea (+14.8% per year).

Import Prices by Country

The average talc and steatite import price stood at $X per ton in 2022, with a decrease of -9% against the previous year. In general, the import price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :