Vulcanised Rubber Thread Market in Vietnam
Market Overview
In 
, the Vietnamese vulcanised rubber thread market was finally on the rise to reach $ for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt contraction. Vulcanised rubber thread consumption peaked at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.
, the Vietnamese vulcanised rubber thread market was finally on the rise to reach $ for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt contraction. Vulcanised rubber thread consumption peaked at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.Consumption
In , after two years of decline, there was significant growth in consumption of vulcanised rubber thread and cord, when its volume increased by % to tons. Overall, consumption, however, saw a abrupt setback. Vulcanised rubber thread consumption peaked at tons in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.
The revenue of the vulcanised rubber thread market in Vietnam reached $ in , surging 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). In general, consumption, however, recorded a abrupt setback. Over the period under review, the market attained the peak level at $ in 2013; however, from 2014 to , consumption failed to regain momentum.
, after two years of decline, there was significant growth in consumption of vulcanised rubber thread and cord, when its volume increased by % to tons. Overall, consumption, however, saw a abrupt setback. Vulcanised rubber thread consumption peaked at tons in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.The revenue of the vulcanised rubber thread market in Vietnam reached $
in , surging 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). In general, consumption, however, recorded a abrupt setback. Over the period under review, the market attained the peak level at $ in 2013; however, from 2014 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for vulcanised rubber thread in Vietnam, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract 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 .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract 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
Driven by a growing demand, the share of imports in total supply in Vietnam increased significantly over the last fifteen years (from % to %). Vulcanised rubber thread market in Vietnam consists almost entirely of imported products.
% to %). Vulcanised rubber thread market in Vietnam consists almost entirely of imported products.Trade Balance
Vietnam remains a net importer of vulcanised rubber thread; 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.
. 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.
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