Vietnam: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Vietnam

In 2022, after four years of decline, there was significant growth in the Vietnamese zirconium ore and concentrate market, when its value increased by X% to $X. In general, consumption, however, recorded a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Zirconium Ores and Concentrates in Vietnam

In value terms, zirconium ore and concentrate production dropped to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Zirconium ore and concentrate production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Zirconium Ores and Concentrates

Exports from Vietnam

In 2022, overseas shipments of zirconium ores and concentrates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. 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, zirconium ore and concentrate exports fell rapidly to $X in 2022. Over the period under review, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

China (X tons) was the main destination for zirconium ore and concentrate exports from Vietnam, accounting for a X% share of total exports. Moreover, zirconium ore and concentrate exports to China exceeded the volume sent to the second major destination, India (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) remains the key foreign market for zirconium ores and concentrates exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The average zirconium ore and concentrate export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price saw a slight slump. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and China ($X per ton), while the average price for exports to Thailand ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced a decline.

Imports of Zirconium Ores and Concentrates

Imports into Vietnam

Zirconium ore and concentrate imports into Vietnam contracted to X tons in 2022, reducing by X% against the previous year's figure. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, zirconium ore and concentrate imports fell to $X in 2022. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Australia (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) were the main suppliers of zirconium ore and concentrate imports to Vietnam, together comprising X% of total imports. China and South Africa lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Australia ($X) and Malaysia ($X) constituted the largest zirconium ore and concentrate suppliers to Vietnam, with a combined X% share of total imports. China and South Africa lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Africa, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average zirconium ore and concentrate import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Australia ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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