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Vietnam - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Market for Iron and Steel Wire 2024
Market Size for Iron and Steel Wire in Vietnam
In 2023, the Vietnamese iron and steel wire market decreased by X% to $X for the first time since 2019, thus ending a three-year declining trend. In general, consumption saw a perceptible reduction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.
Production of Iron and Steel Wire in Vietnam
In value terms, iron and steel wire production reduced to $X in 2023 estimated in export price. Over the period under review, production showed a abrupt downturn. Over the period under review, production hit record highs at $X in 2022, and then shrank in the following year.
Exports of Iron and Steel Wire
Exports from Vietnam
In 2023, after two years of decline, there was significant decline in overseas shipments of iron and steel wire, when their volume decreased by X% to X tons. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2022, and then shrank significantly in the following year.
In value terms, iron and steel wire exports shrank markedly to $X in 2023. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2022, and then fell markedly in the following year.
Exports by Country
Cambodia (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main destinations of iron and steel wire exports from Vietnam, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for iron and steel wire exported from Vietnam were Taiwan (Chinese) ($X), South Korea ($X) and Japan ($X), with a combined X% share of total exports.
Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 iron and steel wire export price amounted to $X per ton, remaining constant against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then dropped in the following year.
Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and South Korea ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) and Cambodia ($X per ton) were 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 Iron and Steel Wire
Imports into Vietnam
In 2023, supplies from abroad of iron and steel wire decreased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.
In value terms, iron and steel wire imports contracted significantly to $X in 2023. Overall, imports recorded a slight setback. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2022, and then reduced remarkably in the following year.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of iron and steel wire to Vietnam, with a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with an X% share.
From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).
In value terms, China ($X) constituted the largest supplier of iron and steel wire 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 Taiwan (Chinese), with an X% share.
From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).
Import Prices by Country
In 2023, the average iron and steel wire import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, recorded a perceptible expansion. 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 $X per ton in 2022, and then fell in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for iron and steel wire 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 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
- Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
- Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless steel)
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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