Vietnam: Thermoforming Machine Market 2025

Thermoforming Machine Market Size in Vietnam

The Vietnamese thermoforming machine market skyrocketed to $X in 2021, with an increase of 42% 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, consumption showed a resilient increase. Thermoforming machine consumption peaked in 2021 and is expected to retain growth in years to come.

Thermoforming Machine Exports

Exports from Vietnam

In 2021, overseas shipments of thermoforming machines for working rubber or plastics decreased by -44.6% to X units, falling for the second year in a row after two years of growth. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 831% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, thermoforming machine exports dropped dramatically to $X in 2021. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 1,156%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India (X units), Hong Kong SAR (X units) and South Korea (X units) were the main destinations of thermoforming machine exports from Vietnam, with a combined 64% share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +33.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for thermoforming machine exported from Vietnam were India ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined 56% share of total exports.

Hong Kong SAR, with a CAGR of +91.5%, 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 thermoforming machine export price stood at $X per unit in 2021, which is down by -1.8% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +12.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermoforming machine export price decreased by -6.8% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 101%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, 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 Singapore ($X per unit), while the average price for exports to Japan ($X per unit) 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 (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Thermoforming Machine Imports

Imports into Vietnam

Thermoforming machine imports into Vietnam soared to X units in 2021, picking up by 69% against the previous year. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 89%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, thermoforming machine imports expanded remarkably to $X in 2021. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 57%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main suppliers of thermoforming machine imports to Vietnam, together comprising 86% of total imports. South Korea, the Netherlands and France lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +78.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) constituted the largest thermoforming machine suppliers to Vietnam, with a combined 77% share of total imports. South Korea, the Netherlands and France lagged somewhat behind, together accounting for a further 8.6%.

France, with a CAGR of +31.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average thermoforming machine import price stood at $X per unit in 2021, falling by -33.1% against the previous year. Overall, the import price saw a abrupt downturn. The pace of growth was the most pronounced in 2016 an increase of 74%. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :