Vietnam: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Vietnam

The Vietnamese cored arc-welding wire market declined modestly to $X in 2023, dropping by X% against the previous year. Overall, consumption recorded a noticeable setback. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Cored Arc-Welding Wire Production in Vietnam

In value terms, cored arc-welding wire production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Cored arc-welding wire production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Cored Arc-Welding Wire Exports

Exports from Vietnam

In 2023, exports of cored arc-welding wire from Vietnam amounted to X tons, approximately equating 2022 figures. In general, exports saw resilient growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, cored arc-welding wire exports declined to $X in 2023. Overall, exports saw a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2022, and then dropped in the following year.

Exports by Country

Mexico (X tons), China (X tons) and the United States (X tons) were the main destinations of cored arc-welding wire exports from Vietnam, with a combined X% share of total exports. Poland, Finland, Brazil, Lithuania, Chile and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Finland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cored arc-welding wire exported from Vietnam were Mexico ($X), China ($X) and the United States ($X), together comprising X% of total exports. Poland, Finland, Brazil, Lithuania, Chile and Turkey lagged somewhat behind, together accounting for a further X%.

Finland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average cored arc-welding wire export price stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price showed a noticeable decrease. The growth pace was the most rapid in 2022 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Lithuania ($X per ton) and Finland ($X per ton), while the average price for exports to Mexico ($X per ton) and China ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports into Vietnam

In 2023, after two years of growth, there was significant decline in purchases abroad of cored arc-welding wire, when their volume decreased by X% to X tons. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2022, and then declined in the following year.

In value terms, cored arc-welding wire imports contracted to $X in 2023. Over the period under review, imports, however, saw a strong expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, China (X tons) was the main cored arc-welding wire supplier to Vietnam, accounting for a X% share of total imports. Moreover, cored arc-welding wire imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of cored arc-welding wire to Vietnam, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with an X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

The average cored arc-welding wire import price stood at $X per ton in 2023, surging by X% against the previous year. In general, the import price, however, showed a pronounced descent. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform