Vietnam: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Vietnam

The Vietnamese hollow drill bar market soared to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a abrupt decrease. Hollow drill bar consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Hollow Drill Bar Exports

Exports from Vietnam

In 2022, hollow drill bar exports from Vietnam dropped markedly to X tons, with a decrease of X% against 2021. Overall, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, hollow drill bar exports fell dramatically to $X in 2022. In general, exports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for hollow drill bar exports from Vietnam, accounting for a X% share of total exports. Moreover, hollow drill bar exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Japan (X tons), threefold. 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 to Lao People's Democratic Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for hollow drill bars and rods exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lao People's Democratic Republic totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average hollow drill bar export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to the United States ($X per ton) and South Korea ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Hollow Drill Bar Imports

Imports into Vietnam

Hollow drill bar imports into Vietnam surged to X tons in 2022, growing by X% compared with the year before. Overall, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hollow drill bar imports surged to $X in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of hollow drill bar imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest hollow drill bar suppliers to Vietnam were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average hollow drill bar import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price recorded strong growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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