Vietnam: Market for Iron Or Steel Leaf-Springs And Leaves 2022

Market Size for Iron Or Steel Leaf-Springs And Leaves in Vietnam

The Vietnamese market for iron or steel leaf-springs and leaves rose modestly to $X in 2020, growing by X% against the previous year. Overall, consumption, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2015 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Production of Iron Or Steel Leaf-Springs And Leaves in Vietnam

In value terms, production of iron or steel leaf-springs and leaves declined to $X in 2020 estimated in export prices. Over the period under review, production saw a perceptible setback. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. Production peaked at $X in 2008; however, from 2009 to 2020, production remained at a lower figure.

Exports of Iron Or Steel Leaf-Springs And Leaves

Exports from Vietnam

After four years of growth, overseas shipments of iron or steel leaf-springs and leaves decreased by -X% to X tons in 2020. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Exports peaked at X tons in 2019, and then fell markedly in the following year.

In value terms, exports of iron or steel leaf-springs and leaves dropped slightly to $X in 2020. In general, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2011 when exports increased by X% y-o-y. Exports peaked at $X in 2019, and then reduced modestly in the following year.

Exports by Country

Cambodia (X tons) was the main destination for exports of iron or steel leaf-springs and leaves from Vietnam, accounting for a X% share of total exports. Moreover, exports of iron or steel leaf-springs and leaves to Cambodia exceeded the volume sent to the second major destination, Australia (X tons), fourfold. The third position in this ranking was occupied by Myanmar (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Cambodia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+X% per year) and Myanmar (+X% per year).

In value terms, Australia ($X), Cambodia ($X) and South Korea ($X) appeared to be the largest markets for iron or steel leaf-spring and leave exported from Vietnam worldwide, with a combined X% share of total exports. These countries were followed by Thailand, Myanmar, Hungary and Brazil, which together accounted for a further X the main countries of destination, Hungary (+X% per year) saw 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

The average export price for iron or steel leaf-springs and leaves stood at $X per ton in 2020, increasing by X% against the previous year. Overall, the export price, however, showed a mild curtailment. The export price peaked at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Australia ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+X% per year), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Leaf-Springs And Leaves

Imports into Vietnam

In 2020, imports of iron or steel leaf-springs and leaves into Vietnam soared to X tons, picking up by X% compared with the year before. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by X% year-to-year. Imports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, imports of iron or steel leaf-springs and leaves surged to $X in 2020. Overall, imports continue to indicate strong growth. The growth pace was the most rapid in 2019 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2020 and are likely to continue growth in the near future.

Imports by Country

In 2020, China (X tons) constituted the largest iron or steel leaf-spring and leave supplier to Vietnam, with a X% share of total imports. Moreover, imports of iron or steel leaf-springs and leaves from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China stood at +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 ($X) constituted the largest supplier of iron or steel leaf-spring and leave to Vietnam, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2007 to 2020, 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 Japan (+X% per year).

Import Prices by Country

The average import price for iron or steel leaf-springs and leaves stood at $X per ton in 2020, surging by X% against the previous year. In general, the import price, however, saw a mild contraction. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2009; however, from 2010 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while the price for Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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