Updated Nov 9, 2022 14:05

Vulcanised Rubber Mats Market in Vietnam

Market Overview
The Vietnamese vulcanised rubber mats market dropped slightly to $ in , remaining relatively unchanged 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 showed a abrupt setback. Vulcanised rubber mats consumption peaked at $ in 2011; however, from 2012 to , consumption failed to regain momentum.

In value terms, vulcanised rubber mats production rose remarkably to $ in estimated in export price. Over the period under review, production, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. Vulcanised rubber mats production peaked at $ in 2011; however, from 2012 to , production remained at a lower figure.


Consumption
In , the amount of floor coverings and mats of vulcanised rubber consumed in Vietnam dropped to tons, shrinking by -% on the previous year. Overall, consumption showed a deep downturn. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption failed to regain momentum.

The revenue of the vulcanised rubber mats market in Vietnam shrank to $ in , declining 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). Over the period under review, consumption saw a drastic downturn. Vulcanised rubber mats consumption peaked at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for vulcanised rubber mats in Vietnam, the market is expected to continue its downward consumption trend over the next eight-year period. 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 .


Market Structure
Over the period under review, the share of imports in terms of total vulcanised rubber mats consumption in Vietnam was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Vietnam vulcanised rubber mats market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. The growth in the share of Vietnam imports of in the vulcanised rubber mats market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports.


Trade Balance
Vietnam remains a net exporter of vulcanised rubber mats; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.