Vietnam: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Vietnam

For the fourth year in a row, the Vietnamese glass fibre and article market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Vietnam

In 2022, the amount of glass fibres and glass fibre articles exported from Vietnam expanded to X tons, with an increase of X% compared with 2021. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, glass fibre and article exports surged to $X in 2022. In general, exports enjoyed a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of glass fibre and article exports from Vietnam, with a combined X% share of total exports. The United States, Thailand, China, India, Spain, Indonesia, Germany, Bulgaria and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for glass fibre and article exported from Vietnam were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for X% of total exports. The United States, Thailand, China, Spain, India, Indonesia, Germany, Bulgaria and the UK lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Spain, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average glass fibre and article export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, export price indicated a strong expansion 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, glass fibre and article export price increased by X% against 2015 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Vietnam

For the fourth consecutive year, Vietnam recorded growth in overseas purchases of glass fibres and glass fibre articles, which increased by X% to X tons in 2022. Overall, imports posted a resilient expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, glass fibre and article imports surged to $X in 2022. Over the period under review, imports saw a strong increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Vietnam, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. Japan (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Vietnam, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with an X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, 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: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, increasing 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, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was 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

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