Vietnam: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Vietnam

In 2022, the Vietnamese pharmaceutical rubber articles market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pharmaceutical Rubber Articles Exports

Exports from Vietnam

Pharmaceutical rubber articles exports from Vietnam reduced markedly to X units in 2022, dropping by X% on 2021. Over the period under review, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, pharmaceutical rubber articles exports declined rapidly to $X in 2022. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

South Korea (X units) was the main destination for pharmaceutical rubber articles exports from Vietnam, with a X% share of total exports. Moreover, pharmaceutical rubber articles exports to South Korea exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), eightfold. The third position in this ranking was held by Germany (X units), with a X% share.

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

In value terms, South Korea ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Germany (X% per year).

Export Prices by Country

The average pharmaceutical rubber articles export price stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per unit) and the Philippines ($X per unit), while the average price for exports to South Korea ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (X%), while the prices for the other major destinations experienced a decline.

Pharmaceutical Rubber Articles Imports

Imports into Vietnam

In 2022, supplies from abroad of hygienic or pharmaceutical articles of rubber was finally on the rise to reach X units after two years of decline. In general, imports recorded prominent growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X units; afterwards, it flattened through to 2022.

In value terms, pharmaceutical rubber articles imports surged to $X in 2022. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

France (X units), China (X units) and South Korea (X units) were the main suppliers of pharmaceutical rubber articles imports to Vietnam, with a combined X% share of total imports. Japan, Thailand, Malaysia, Singapore, Germany, Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest pharmaceutical rubber articles suppliers to Vietnam were France ($X), China ($X) and South Korea ($X), with a combined X% share of total imports. Japan, Thailand, Malaysia, Singapore, Germany, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Thailand, 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 more modest paces of growth.

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

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