Vietnam: Amino Resin Market 2024

Amino Resin Market Size in Vietnam

The Vietnamese amino resin market declined modestly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Amino resin consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Amino Resin Production in Vietnam

In value terms, amino resin production shrank to $X in 2022 estimated in export price. Overall, production saw a perceptible decline. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Amino Resin Exports

Exports from Vietnam

In 2022, overseas shipments of amino resins decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, amino resin exports fell sharply to $X in 2022. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Indonesia (X tons) was the main destination for amino resin exports from Vietnam, with a X% share of total exports. Moreover, amino resin exports to Indonesia exceeded the volume sent to the second major destination, the United States (X tons), sixfold. China (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 Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for amino resins exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

Export Prices by Country

The average amino resin export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices attained the peak figure 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 foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and Brazil ($X per ton), while the average price for exports to China ($X per ton) and the United States ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Vietnam

In 2022, approx. X tons of amino resins were imported into Vietnam; surging by X% on the year before. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, amino resin imports rose to $X in 2022. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest amino resin supplier to Vietnam, accounting for a X% share of total imports. Moreover, amino resin imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of amino resins to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

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

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while the price for South Korea ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform