Vietnam: Carbides Market 2024

Carbides Market Size in Vietnam

For the tenth year in a row, the Vietnamese carbides market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the market value decreased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carbides Production in Vietnam

In value terms, carbides production contracted to $X in 2022 estimated in export price. In general, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Carbides Exports

Exports from Vietnam

In 2022, approx. X tons of carbides were exported from Vietnam; with a decrease of X% compared with the previous year. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, carbides exports soared to $X in 2022. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

India (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of carbides exports from Vietnam, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Japan ($X) and South Korea ($X) appeared to be the largest markets for carbides exported from Vietnam worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carbides export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Japan ($X per ton), while the average price for exports to South Korea ($X per ton) and Germany ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carbides Imports

Imports into Vietnam

In 2022, approx. X tons of carbides were imported into Vietnam; shrinking by X% compared with 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. Imports peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, carbides imports rose remarkably to $X in 2022. Overall, imports, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) was the main supplier of carbides to Vietnam, with a X% share of total imports. It was followed by Japan (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. 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 ($X) constituted the largest supplier of carbides to Vietnam, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value 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).

Import Prices by Country

In 2022, the average carbides import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, import price indicated tangible 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, carbides import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform