
Vietnam - Abrasives (Natural) - Market Analysis, Forecast, Size, Trends and Insights
Vietnam: Abrasives Market 2023
Abrasives Market Size in Vietnam
After three years of growth, the Vietnamese abrasives market decreased by -32.1% to $X in 2021. In general, consumption, however, posted strong growth. Abrasives consumption peaked at $X in 2020, and then shrank rapidly in the following year.
Abrasives Exports
Exports from Vietnam
In 2021, the amount of abrasives (natural) exported from Vietnam skyrocketed to X tons, rising by 86% against 2020 figures. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 1,404%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.
In value terms, abrasives exports surged to $X in 2021. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 759%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.
Exports by Country
Cambodia (X tons) was the main destination for abrasives exports from Vietnam, with a 94% share of total exports. Moreover, abrasives exports to Cambodia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.
From 2012 to 2021, the average annual growth rate of volume to Cambodia stood at +111.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Indonesia (-42.6% per year).
In value terms, the largest markets for abrasives exported from Vietnam were the United States ($X), Cambodia ($X) and Indonesia ($X), with a combined 97% share of total exports.
Among the main countries of destination, Cambodia, with a CAGR of +125.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.
Export Prices by Country
In 2021, the average abrasives export price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the export price, however, saw a mild downturn. The growth pace was the most rapid in 2016 when the average export price increased by 109% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Cambodia ($X 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 Cambodia (+6.2%), while the prices for the other major destinations experienced a decline.
Abrasives Imports
Imports into Vietnam
After three years of growth, purchases abroad of abrasives (natural) decreased by -35.7% to X tons in 2021. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 88% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.
In value terms, abrasives imports contracted to $X in 2021. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 66%. Imports peaked at $X in 2020, and then contracted in the following year.
Imports by Country
China (X tons), Turkey (X tons) and Indonesia (X tons) were the main suppliers of abrasives imports to Vietnam, together comprising 71% of total imports. These countries were followed by Malaysia, India, Japan, the United States and Germany, which together accounted for a further 24%.
From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +92.2%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Turkey ($X), China ($X) and Indonesia ($X) appeared to be the largest abrasives suppliers to Vietnam, together accounting for 70% of total imports. These countries were followed by Japan, Malaysia, India, the United States and Germany, which together accounted for a further 25%.
Malaysia, with a CAGR of +82.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2021, the average abrasives import price amounted to $X per ton, surging by 37% against the previous year. In general, the import price, however, showed a perceptible decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the abrasives market 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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