Vietnam: Vulcanised Rubber Thread Market 2023

Vulcanised Rubber Thread Market Size in Vietnam

In 2021, the Vietnamese vulcanised rubber thread market decreased by -33.8% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a precipitous decrease. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports from Vietnam

Vulcanised rubber thread exports from Vietnam surged to X tons in 2021, growing by 23% against the previous year's figure. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 426% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, vulcanised rubber thread exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 313%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Turkey (X tons) and Cambodia (X tons) were the main destinations of vulcanised rubber thread exports from Vietnam, together comprising 82% of total exports. These countries were followed by Japan, the UK, Indonesia and the United States, which together accounted for a further 9.8%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +120.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Cambodia ($X) constituted the largest markets for vulcanised rubber thread exported from Vietnam worldwide, together comprising 82% of total exports. Japan, Indonesia, the UK and the United States lagged somewhat behind, together comprising a further 11%.

In terms of the main countries of destination, the UK, with a CAGR of +165.1%, 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 2021, the average vulcanised rubber thread export price amounted to $X per ton, picking up by 21% against the previous year. Overall, the export price, however, showed a pronounced downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and the UK ($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 UK (+20.3%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Thread Imports

Imports into Vietnam

In 2021, overseas purchases of vulcanised rubber thread and cord decreased by -9.6% to X tons, falling for the second year in a row after five years of growth. In general, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 87%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber thread imports surged to $X in 2021. Overall, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 85%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of vulcanised rubber thread to Vietnam, with a 70% share of total imports. Moreover, vulcanised rubber thread imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from Thailand totaled -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-15.8% per year) and South Korea (-16.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of vulcanised rubber thread and cord to Vietnam, comprising 70% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total imports. It was followed by South Korea, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-15.1% per year) and South Korea (-15.9% per year).

Import Prices by Country

In 2021, the average vulcanised rubber thread import price amounted to $X per ton, increasing by 32% against the previous year. Overall, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Malaysia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Thailand ($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) (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :