Vietnam: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Vietnam

In 2022, the Vietnamese polyethylene binder 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, however, continues to indicate a noticeable shrinkage. Polyethylene binder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in Vietnam

In value terms, polyethylene binder production rose modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The growth pace was the most rapid in 2019 with an increase of X%. Polyethylene binder production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Polyethylene Binder Exports

Exports from Vietnam

Polyethylene binder exports from Vietnam was estimated at X tons in 2022, remaining relatively unchanged against the year before. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, polyethylene binder exports rose notably to $X in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for polyethylene binder exports from Vietnam, with a X% share of total exports. Moreover, polyethylene binder exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was held by Australia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Australia (X% per year).

In value terms, the United States ($X) remains the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Australia (X% per year).

Export Prices by Country

In 2022, the average polyethylene binder export price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Canada ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in supplies from abroad of polyethylene or polypropylene binder or baler (agricultural) twines, when their volume increased by X% to X tons. In general, imports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, polyethylene binder imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a slight curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of polyethylene binder to Vietnam, with a X% share of total imports. Moreover, polyethylene binder imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by Japan (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene or polypropylene binder or baler (agricultural) twines to Vietnam, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Import Prices by Country

The average polyethylene binder import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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