Updated Feb 18, 2023 23:12

Compound Plasticisers Market in Vietnam

Market Overview
After three years of growth, the Vietnamese compound plasticisers market decreased by -% to $ in . Overall, consumption, however, recorded strong growth. Compound plasticisers consumption peaked at $ in 2017; however, from 2018 to , consumption remained at a lower figure.


Consumption
In , after three years of growth, there was decline in consumption of compound plasticisers for rubber or plastics, when its volume decreased by -% to tons. Over the period under review, consumption, however, saw a remarkable increase. Over the period under review, consumption reached the maximum volume at tons in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.

The size of the compound plasticisers market in Vietnam declined to $ in , waning by -% 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). Overall, consumption, however, saw buoyant growth. Compound plasticisers consumption peaked at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for compound plasticisers for rubber or plastics in Vietnam, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Compound plasticisers market in Vietnam consists almost entirely of imported products.


Trade Balance
Vietnam remains a net importer of compound plasticisers; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.