Vietnam: Polyamide Market 2023

Polyamide Market Size in Vietnam

In 2021, the Vietnamese polyamide market decreased by -28.1% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption saw a mild downturn. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Polyamide Production in Vietnam

In value terms, polyamide production contracted notably to $X in 2021 estimated in export price. Overall, production recorded a deep slump. The growth pace was the most rapid in 2020 when the production volume increased by 71%. Polyamide production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Polyamide Exports

Exports from Vietnam

In 2021, the amount of polyamides (in primary forms) exported from Vietnam soared to X tons, rising by 44% compared with the previous year's figure. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 65%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, polyamide exports skyrocketed to $X in 2021. In general, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons) were the main destinations of polyamide exports from Vietnam, with a combined 85% share of total exports. Italy and the United States lagged somewhat behind, together comprising a further 4.4%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +77.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Indonesia ($X) were the largest markets for polyamide exported from Vietnam worldwide, together comprising 85% of total exports. These countries were followed by Italy and the United States, which together accounted for a further 4.4%.

In terms of the main countries of destination, Italy, with a CAGR of +77.8%, recorded 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 polyamide export price stood at $X per ton in 2021, jumping by 38% against the previous year. Overall, the export price, however, recorded a pronounced shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Indonesia ($X per ton), while the average price for exports to the United States ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyamide Imports

Imports into Vietnam

In 2021, supplies from abroad of polyamides (in primary forms) decreased by -7.2% to X tons, falling for the second consecutive year after eight years of growth. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -17.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polyamide imports expanded modestly to $X in 2021. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 52%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of polyamide imports to Vietnam, with a combined 76% share of total imports. South Korea, Japan and Thailand lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +26.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyamide suppliers to Vietnam were the United States ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 74% of total imports.

China, with a CAGR of +26.9%, 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 more modest paces of growth.

Import Prices by Country

The average polyamide import price stood at $X per ton in 2021, growing by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 an increase of 24%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the price for the United States ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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