Vietnam: Wire And Cable Market 2024

Wire And Cable Market Size in Vietnam

The Vietnamese wire and cable market rose notably to $X in 2023, growing by X% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. Wire and cable consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Wire And Cable Production in Vietnam

In value terms, wire and cable production rose to $X in 2023 estimated in export price. Overall, the total production indicated perceptible growth 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Wire and cable production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Wire And Cable Exports

Exports from Vietnam

In 2023, exports of insulated wire and cable from Vietnam rose modestly to X tons, surging by X% compared with the previous year's figure. Overall, exports saw a strong increase. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, wire and cable exports declined slightly to $X in 2023. In general, exports posted a remarkable increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then dropped slightly in the following year.

Exports by Country

Japan (X tons), the United States (X tons) and China (X tons) were the main destinations of wire and cable exports from Vietnam, together comprising X% of total exports. Mexico, Singapore, the Philippines, Thailand, South Korea, Canada and Cambodia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wire and cable exported from Vietnam were Japan ($X), the United States ($X) and China ($X), with a combined X% share of total exports. Canada, South Korea, Mexico, Thailand, the Philippines, Singapore and Cambodia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, 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 2023, the average wire and cable export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Cambodia ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Vietnam

After two years of decline, overseas purchases of insulated wire and cable increased by X% to X tons in 2023. Overall, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, wire and cable imports shrank modestly to $X in 2023. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of wire and cable to Vietnam, with a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of insulated wire and cable to Vietnam, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then declined slightly 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 Indonesia ($X per ton) and Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform