Vietnam: Abrasives Market 2022

Abrasives Market Size in Vietnam

After seven years of growth, the Vietnamese abrasives market decreased by -X% to $X in 2021. Overall, consumption, however, saw a prominent expansion. Abrasives consumption peaked at $X in 2020, and then contracted in the following year.

Abrasives Exports

Exports from Vietnam

In 2021, after three years of growth, there was significant decline in overseas shipments of abrasives (natural), when their volume decreased by -X% to X tons. Over the period under review, exports, however, continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, abrasives exports contracted rapidly to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United States (X tons) was the main destination for abrasives exports from Vietnam, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

The average abrasives export price stood at $X per ton in 2021, waning by -X% against the previous year. Overall, the export price showed a perceptible decrease. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to X% per year.

Abrasives Imports

Imports into Vietnam

In 2021, after five years of growth, there was significant decline in supplies from abroad of abrasives (natural), when their volume decreased by -X% to X tons. Overall, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, abrasives imports contracted notably to $X in 2021. In general, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

Turkey (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of abrasives imports to Vietnam, with a combined X% share of total imports. These countries were followed by Japan, Malaysia and India, which together accounted for a further X 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 +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of abrasives to Vietnam, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Indonesia, with an X% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Indonesia (+X% per year).

Import Prices by Country

The average abrasives import price stood at $X per ton in 2021, with a decrease of -X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably countryorigin: the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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