Vietnam: Market for Hot-Rolled Bars Of High Speed Steel 2022

Market Size for Hot-Rolled Bars Of High Speed Steel in Vietnam

In 2021, the Vietnamese market for hot-rolled bars of high speed steel increased by X% to $X, rising for the third year in a row after four years of decline. Overall, consumption, however, continues to indicate a deep reduction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Hot-Rolled Bars Of High Speed Steel in Vietnam

In value terms, hot-rolled high speed steel bar production fell sharply to $X in 2021 estimated in export price. Overall, production, however, posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Vietnam

In 2021, hot-rolled high speed steel bar exports from Vietnam dropped notably to X tons, reducing by -X% on the previous year's figure. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports contracted markedly to $X in 2021. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Cambodia (X tons) was the main destination for hot-rolled high speed steel bar exports from Vietnam, accounting for a X% share of total exports. Moreover, hot-rolled high speed steel bar exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Cambodia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+X% per year) and Japan (+X% per year).

In value terms, Cambodia ($X) emerged as the key foreign market for hot-rolled high speed steel bar exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+X% per year) and Japan (+X% per year).

Export Prices by Country

In 2021, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, standing approx. at the previous year. In general, the export price, however, showed a notable expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2020, and then contracted slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Vietnam

After three years of decline, purchases abroad of hot-rolled bars of high speed steel increased by X% to X tons in 2021. Overall, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, hot-rolled high speed steel bar imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest hot-rolled high speed steel bar supplier to Vietnam, with a X% share of total imports. Moreover, hot-rolled high speed steel bar imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the UK (+X% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the largest hot-rolled high speed steel bar suppliers to Vietnam, together comprising X% of total imports. The UK and Thailand lagged somewhat behind, together comprising a further X, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible descent. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably countryorigin: the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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