Vietnam: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Vietnam

In 2023, the Vietnamese polymethyl methacrylate market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, recorded a abrupt decline. Polymethyl methacrylate consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Polymethyl Methacrylate Production in Vietnam

In value terms, polymethyl methacrylate production declined dramatically to $X in 2023 estimated in export price. In general, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Polymethyl Methacrylate Exports

Exports from Vietnam

After two years of decline, shipments abroad of polymethyl methacrylate in primary forms increased by X% to X tons in 2023. Overall, exports, however, recorded a mild curtailment. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate exports skyrocketed to $X in 2023. In general, exports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for polymethyl methacrylate exports from Vietnam, accounting for a X% share of total exports. Moreover, polymethyl methacrylate exports to China exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Malaysia (X% per year).

In value terms, China ($X) remains the key foreign market for polymethyl methacrylate in primary forms exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly 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 Cambodia ($X per ton) and Indonesia ($X per ton), while the average price for exports to Bangladesh ($X per ton) and South Korea ($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.

Polymethyl Methacrylate Imports

Imports into Vietnam

In 2023, the amount of polymethyl methacrylate in primary forms imported into Vietnam fell to X tons, reducing by X% against the previous year. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, polymethyl methacrylate imports reduced to $X in 2023. In general, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2022, and then dropped in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of polymethyl methacrylate to Vietnam, accounting for a X% share of total imports. Moreover, polymethyl methacrylate imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

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

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest polymethyl methacrylate suppliers to Vietnam, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average polymethyl methacrylate import price stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was 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