Vietnam: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Vietnam

In 2022, the Vietnamese cyclic hydrocarbons market increased by X% to $X, rising for the second year in a row after eight years of decline. Over the period under review, consumption, however, recorded a noticeable contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in Vietnam

In value terms, cyclic hydrocarbons production rose significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Cyclic hydrocarbons production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Cyclic Hydrocarbons Exports

Exports from Vietnam

In 2022, shipments abroad of cyclic hydrocarbons decreased by X% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports surged to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

China (X tons) was the main destination for cyclic hydrocarbons exports from Vietnam, with a X% share of total exports. Moreover, cyclic hydrocarbons exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Thailand (X% per year).

In value terms, China ($X) remains the key foreign market for cyclic hydrocarbons exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the average cyclic hydrocarbons export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cambodia ($X per ton) and Malaysia ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and China ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into Vietnam

In 2022, supplies from abroad of cyclic hydrocarbons decreased by X% to X tons, falling for the second consecutive year after seven years of growth. In general, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2016 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, cyclic hydrocarbons imports expanded sharply to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Singapore (X tons) and Thailand (X tons) were the main suppliers of cyclic hydrocarbons imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Thailand ($X) appeared to be the largest cyclic hydrocarbons suppliers to Vietnam, together comprising X% of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cyclic hydrocarbons import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Singapore ($X per ton), while the price for Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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