Vietnam: Wire And Cable Market 2024

Wire And Cable Market Size in Vietnam

The Vietnamese wire and cable market expanded notably to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated a mild expansion 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, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Wire And Cable Production in Vietnam

In value terms, wire and cable production rose markedly to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Wire And Cable Exports

Exports from Vietnam

In 2022, overseas shipments of insulated wire and cable increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, wire and cable exports expanded notably to $X in 2022. In general, exports saw a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Japan (X tons), the United States (X tons) and China (X tons) were the main destinations of wire and cable exports from Vietnam, together comprising X% of total exports. South Korea, Thailand, Myanmar, Singapore, Mexico, the Philippines, Canada, Hong Kong SAR and Cambodia lagged somewhat behind, together accounting for 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 Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) constituted the largest markets for wire and cable exported from Vietnam worldwide, together comprising X% of total exports. South Korea, Mexico, Canada, Thailand, Hong Kong SAR, the Philippines, Singapore, Cambodia and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to 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 wire and cable export price amounted to $X per ton, growing by X% against the previous year. In general, export price indicated a noticeable increase 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, wire and cable export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Myanmar ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Vietnam

In 2022, supplies from abroad of insulated wire and cable decreased by X% to X tons, falling for the second consecutive year after nine years of growth. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wire and cable imports rose modestly to $X in 2022. Overall, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wire and cable to Vietnam, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. 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 ($X) constituted the largest supplier of insulated wire and cable to Vietnam, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value 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).

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated temperate growth 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, wire and cable import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

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

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

Source: IndexBox Platform

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