Vietnam: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in Vietnam

The Vietnamese polycarboxylic acid market skyrocketed to $X in 2021, jumping by 53% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polycarboxylic Acid Exports

Exports from Vietnam

In 2021, shipments abroad of polycarboxylic acids increased by 29% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 640% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, polycarboxylic acid exports soared to $X in 2021. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 631% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Egypt (X tons), South Korea (X tons) and Peru (X tons) were the main destinations of polycarboxylic acid exports from Vietnam, with a combined 44% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +1,590.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Peru ($X) and South Korea ($X) appeared to be the largest markets for polycarboxylic acid exported from Vietnam worldwide, with a combined 44% share of total exports.

Peru, with a CAGR of +1,754.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2021, surging by 30% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while the average price for exports to Myanmar ($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 Russia (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarboxylic Acid Imports

Imports into Vietnam

In 2021, purchases abroad of polycarboxylic acids increased by 43% to X tons, rising for the sixth year in a row after three years of decline. Overall, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 53% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, polycarboxylic acid imports surged to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 65%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest polycarboxylic acid supplier to Vietnam, accounting for a 63% share of total imports. Moreover, polycarboxylic acid imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) stood at +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+7.1% per year) and China (+33.7% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of polycarboxylic acids to Vietnam, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with a 20% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+4.0% per year) and China (+20.6% per year).

Import Prices by Country

In 2021, the average polycarboxylic acid import price amounted to $X per ton, surging by 12% against the previous year. Overall, the import price, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2014 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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