Report Update: May 1, 2024

Vietnam - Iron or Steel Wire Products - Market Analysis, Forecast, Size, Trends And Insights

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Price for Iron or Steel Wire Product in Vietnam - 2021

Price for Iron or Steel Wire Product in Vietnam (CIF) - 2022

The average import price for iron or steel wire products stood at $3,531 per ton in 2021, with an increase of 5.5% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron or steel wire product import price increased by +5.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 130%. As a result, import price attained the peak level of $3,652 per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($4,770 per ton), while the price for Indonesia ($1,691 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Iron or Steel Wire Product in Vietnam (FOB) - 2022

The average export price for iron or steel wire products stood at $2,893 per ton in 2021, growing by 6.3% against the previous year. Over the period under review, the export price, however, recorded a mild decrease. The growth pace was the most rapid in 2016 an increase of 13% against the previous year. Over the period under review, the average export prices hit record highs at $3,292 per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($2,785 per ton), while the average price for exports to Brunei Darussalam ($985 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Wire Product in Vietnam

In 2022, overseas purchases of iron or steel wire products decreased by -6.8% to 5.5K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16%. As a result, imports reached the peak of 5.9K tons, and then declined in the following year.

In value terms, iron or steel wire product imports contracted to $19M in 2022. The total import value increased at an average annual rate of +7.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, imports attained the peak of $21M, and then declined in the following year.

Import of Iron or Steel Wire Product in Vietnam (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	10.8	13.3	11.2	1.8%
Hong Kong SAR	1.0	0.7	1.8	34.2%
Indonesia	0.5	0.7	0.7	18.3%
Thailand	0.6	0.5	0.5	-8.7%
Taiwan (Chinese)	0.3	0.2	0.4	15.5%
Japan	0.6	0.6	0.4	-18.4%
South Korea	1.0	0.3	0.3	-45.2%
Others	0.6	0.8	5.6	205.5%
Total	15.3	17.1	20.9	16.9%

Top Suppliers of Iron or Steel Wire Product to Vietnam in 2022:

China (3518.7 tons)
Hong Kong SAR (459.9 tons)
Indonesia (434.1 tons)
Thailand (127.8 tons)
Japan (103.5 tons)
Taiwan (Chinese) (88.1 tons)
South Korea (74.1 tons)

Exports of Iron or Steel Wire Product in Vietnam

In 2022, the amount of iron or steel wire products exported from Vietnam expanded sharply to 6.5K tons, picking up by 5.4% compared with the previous year. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -4.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 54% against the previous year. As a result, the exports reached the peak of 6.8K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel wire product exports expanded to $18M in 2022. The total export value increased at an average annual rate of +11.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 42% against the previous year. As a result, the exports attained the peak of $19M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Export of Iron or Steel Wire Product in Vietnam (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
United States	5.9	8.0	7.4	12.0%
Japan	3.2	4.6	2.9	-4.8%
Netherlands	N/A	0.1	0.6	500.0%
Canada	N/A	0.4	0.5	25.0%
China	0.1	0.3	0.5	123.6%
Lao People's Democratic Republic	0.3	0.7	0.4	15.5%
Taiwan (Chinese)	0.5	0.6	0.4	-10.6%
Sweden	0.6	0.8	0.4	-18.4%
Australia	0.6	0.4	0.2	-42.3%
Brunei Darussalam	N/A	0.2	0.1	-50.0%
Others	1.9	2.9	4.3	50.4%
Total	13.1	18.6	17.9	16.9%

Top Export Markets for Iron or Steel Wire Product from Vietnam in 2022:

United States (2672.4 tons)
Japan (1093.7 tons)
Netherlands (226.6 tons)
Sweden (211.9 tons)
China (192.5 tons)
Canada (165.3 tons)
Lao People's Democratic Republic (162.9 tons)
Taiwan (Chinese) (142.0 tons)
Brunei Darussalam (107.1 tons)
Australia (105.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron or steel wire product in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25992925 - Finished products of iron/steel wire, snares, traps, etc., fodder ties, animal nose rings, mattress hooks, butchers

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023