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Vietnam - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Market for Formic Acid, Its Salts And Esters 2024
Market Size for Formic Acid, Its Salts And Esters in Vietnam
After two years of growth, the Vietnamese market for formic acid, its salts and esters decreased by X% to $X in 2023. In general, the total consumption indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2022, and then fell in the following year.
Production of Formic Acid, Its Salts And Esters in Vietnam
In value terms, production of formic acid, its salts and esters dropped to $X in 2023 estimated in export price. Over the period under review, production recorded a mild decline. The growth pace was the most rapid in 2018 when the production volume increased by X%. Production of peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.
Exports of Formic Acid, Its Salts And Esters
Exports from Vietnam
Exports of formic acid, its salts and esters from Vietnam expanded sharply to X tons in 2023, surging by X% against 2022. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports of failed to regain momentum.
In value terms, exports of formic acid, its salts and esters declined modestly to $X in 2023. In general, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2022, and then dropped modestly in the following year.
Exports by Country
Lao People's Democratic Republic (X tons) was the main destination for exports of formic acid, its salts and esters from Vietnam, accounting for a X% share of total exports. Moreover, exports of formic acid, its salts and esters to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), eightfold.
From 2012 to 2023, the average annual growth rate of volume to Lao People's Democratic Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Indonesia (X% per year).
In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for formic 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 an X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Lao People's Democratic Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Indonesia (X% per year).
Export Prices by Country
The average export price for formic acid, its salts and esters stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, export price for formic acid, its salts and esters increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then fell in the following year.
Average prices varied noticeably for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Indonesia ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Formic Acid, Its Salts And Esters
Imports into Vietnam
In 2023, supplies from abroad of formic acid, its salts and esters decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2022, and then reduced in the following year.
In value terms, imports of formic acid, its salts and esters reduced markedly to $X in 2023. In general, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2022, and then shrank markedly in the following year.
Imports by Country
In 2023, China (X tons) constituted the largest formic acid, its salts and esters supplier to Vietnam, accounting for a X% share of total imports. Moreover, imports of formic acid, its salts and esters from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Norway (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Norway (X% per year).
In value terms, China ($X) constituted the largest supplier of formic acid, its salts and esters to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Norway ($X), with a X% share of total imports. It was followed by Germany, with a X% share.
From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (X% per year) and Germany (X% per year).
Import Prices by Country
The average import price for formic acid, its salts and esters stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Norway (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for formic acid, its salts and esters 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 20143250 - Formic 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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