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Vietnam - Benzoic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Benzoic Acid Market 2024
Benzoic Acid Market Size in Vietnam
The Vietnamese benzoic acid market amounted to $X in 2023, therefore, remained relatively stable 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). In general, consumption showed a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2021; afterwards, it flattened through to 2023.
Benzoic Acid Exports
Exports from Vietnam
In 2023, overseas shipments of benzoic acid, its salts and esters decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, saw a perceptible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2022, and then shrank slightly in the following year.
In value terms, benzoic acid exports shrank to $X in 2023. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2022, and then shrank in the following year.
Exports by Country
Myanmar (X tons) was the main destination for benzoic acid exports from Vietnam, with a X% share of total exports. Moreover, benzoic acid exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X tons), sixfold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Lao People's Democratic Republic (X% per year).
In value terms, Myanmar ($X) remains the key foreign market for benzoic acid, its salts and esters exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Myanmar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Lao People's Democratic Republic (X% per year).
Export Prices by Country
The average benzoic acid export price stood at $X per ton in 2023, falling by X% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, benzoic acid export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then fell in the following year.
Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.
Benzoic Acid Imports
Imports into Vietnam
In 2023, imports of benzoic acid, its salts and esters into Vietnam expanded markedly to X tons, increasing by X% against the previous year's figure. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.
In value terms, benzoic acid imports declined slightly to $X in 2023. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2022, and then reduced slightly in the following year.
Imports by Country
The Netherlands (X tons), China (X tons) and Estonia (X tons) were the main suppliers of benzoic acid imports to Vietnam, together comprising X% of total imports. The United States, Japan and Singapore lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the Netherlands ($X), China ($X) and the United States ($X) constituted the largest benzoic acid suppliers to Vietnam, together comprising X% of total imports. Estonia, Japan and Singapore lagged somewhat behind, together accounting for a further X%.
Singapore, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average benzoic acid import price amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and China ($X per ton), while the price for Estonia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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This report provides an in-depth analysis of the benzoic acid market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143363 - Benzoic acid, its salts and esters
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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