Vietnam: Wooden Frame Market 2024

Wooden Frame Market Size in Vietnam

The Vietnamese wooden frame market rose significantly to $X in 2022, picking up by 7.5% against the previous year. Overall, consumption, however, showed a pronounced decrease. Wooden frame consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wooden Frame Production in Vietnam

In value terms, wooden frame production rose to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2013 with an increase of 11%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Wooden Frame Exports

Exports from Vietnam

In 2022, approx. X units of wooden frames for paintings, photographs, mirrors or similar objects were exported from Vietnam; waning by -10.4% on the previous year's figure. Overall, exports, however, recorded noticeable growth. The pace of growth appeared the most rapid in 2013 with an increase of 228% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden frame exports reduced to $X in 2022. Over the period under review, exports, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2013 with an increase of 195%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for wooden frame exports from Vietnam, accounting for a 68% share of total exports. Moreover, wooden frame exports to the United States exceeded the volume sent to the second major destination, Japan (X units), fivefold. The third position in this ranking was taken by Canada (X units), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+7.0% per year) and Canada (+6.3% per year).

In value terms, the United States ($X) remains the key foreign market for wooden frames for paintings, photographs, mirrors or similar objects exports from Vietnam, comprising 65% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by Canada, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.6% per year) and Canada (+8.9% per year).

Export Prices by Country

In 2022, the average wooden frame export price amounted to $X per unit, flattening at the previous year. Overall, the export price saw a mild descent. The pace of growth was the most pronounced in 2015 an increase of 19%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per unit) and South Korea ($X per unit), while the average price for exports to the Netherlands ($X per unit) and the United States ($X per unit) 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 (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Frame Imports

Imports into Vietnam

In 2022, approx. X units of wooden frames for paintings, photographs, mirrors or similar objects were imported into Vietnam; approximately reflecting the previous year. Over the period under review, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 89% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden frame imports declined slightly to $X in 2022. In general, imports enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2016 when imports increased by 80% against the previous year. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

In value terms, China ($X) constituted the largest supplier of wooden frames for paintings, photographs, mirrors or similar objects to Vietnam, comprising 86% of total imports. The second position in the ranking was held by Japan ($X), with a 3.7% share of total imports. It was followed by South Korea, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.9% per year) and South Korea (-7.9% per year).

Import Prices by Country

The average wooden frame import price stood at $X per unit in 2022, with a decrease of -4.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 7.1% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Singapore ($X per unit) and Italy ($X per unit), while the price for Malaysia ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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