Report Update: Apr 1, 2024

Vietnam - Iron Or Steel Wool - Market Analysis, Forecast, Size, Trends And Insights

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Metal Wool Price in Vietnam - 2021

Metal Wool Price in Vietnam (FOB) - 2022

The average metal wool export price stood at $4,803 per ton in 2022, reducing by -3.3% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool export price increased by +42.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 25%. Over the period under review, the average export prices attained the peak figure at $4,969 per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($12,629 per ton), while the average price for exports to Nigeria ($577 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+66.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Price in Vietnam (CIF) - 2022

The average metal wool import price stood at $4,444 per ton in 2022, declining by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11% against the previous year. As a result, import price reached the peak level of $4,699 per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($8,780 per ton), while the price for Malaysia ($3,881 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Metal Wool Exports in Vietnam

Metal wool exports from Vietnam surged to 184 tons in 2022, increasing by 16% against the year before. The total export volume increased at an average annual rate of +3.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when exports increased by 24% against the previous year. As a result, the exports attained the peak of 203 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal wool exports amounted to $881K in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +12.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.6% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 55%. As a result, the exports reached the peak of $975K. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Metal Wool in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	550	658	420	612	3.6%
United States	13.7	42.6	119	155	124.5%
Panama	N/A	N/A	N/A	45.2	0%
Nigeria	6.7	7.2	4.7	5.9	-4.1%
China	17.0	29.1	27.6	5.7	-30.5%
Saudi Arabia	N/A	155	172	N/A	11.0%
Others	39.3	82.5	45.0	57.8	13.7%
Total	627	975	788	881	12.0%

Top Export Markets for Metal Wool from Vietnam in 2022:

Japan (128.3 tons)
United States (31.3 tons)
Nigeria (10.3 tons)
Panama (3.6 tons)
China (0.9 tons)

Metal Wool Imports in Vietnam

In 2022, the amount of iron or steel wool imported into Vietnam amounted to 160 tons, surging by 6.5% on the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern.

In value terms, metal wool imports reached $712K in 2022. The total import value increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18%. As a result, imports attained the peak of $717K. From 2021 to 2022, the growth of imports remained at a lower figure.

Import of Metal Wool in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	356	428	485	433	6.7%
Japan	25.5	21.6	11.0	95.8	55.5%
Thailand	88.7	133	111	90.3	0.6%
Malaysia	34.4	36.4	19.4	24.2	-11.1%
South Korea	47.6	26.1	27.8	16.8	-29.3%
Taiwan (Chinese)	17.0	21.9	19.8	16.2	-1.6%
United States	16.7	34.3	7.5	15.7	-2.0%
Others	23.0	16.1	25.5	19.9	-4.7%
Total	609	717	707	712	5.3%

Top Suppliers of Metal Wool to Vietnam in 2022:

China (97.3 tons)
Thailand (22.4 tons)
Japan (21.5 tons)
Malaysia (6.2 tons)
Taiwan (Chinese) (4.0 tons)
United States (4.0 tons)
South Korea (1.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the metal wool market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25991280 - Iron or steel wool, pot scourers and scouring or polishing pads, and gloves and the like

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023