Vietnam Sourcing Reports: Lacquerware26 Dec 2011 • by Natalie Aster
Propelled by broad experience and a number of other competitive advantages, the lacquerware industry in Vietnam has developed to become one of the most important in the world. The sector’s core strength lies in producing unique designs in contemporary and traditional types. Suppliers are capable of creating their own styles in-house, while maintaining the ability to manufacture items according to customers’ requirements. Craft villages located throughout Vietnam support the industry. Skilled workers in these communities provide artistic inputs on most models.
The report “Vietnam Sourcing Reports: Lacquerware” by Global Sources covers the main types of lacquerware in Vietnam, including functional and decorative bowls, plates and trays, boxes, lamps, vases, and wall paintings. Each product category has its own price guide that describes features of low-end, midrange and high-end models.
Vietnam Sourcing Reports: Lacquerware
Published: November 2011
Price: US$ 75,00
- The majority of suppliers interviewed for this report will increase prices over the next six months as a means to cope with higher raw material and labor costs. Adjustments will be implemented cautiously, however, with most pushing up quotes by less than 10 percent.
- Exports increased in 2010 after declining the previous year as a result of the global economic crisis. Manufacturers expect revenue growth to slow this year, however, mainly because of the financial difficulties being faced by a number of economies in the EU.
- The industry will continue to emphasize the EU although sales to the bloc are predicted to be lower. Most enterprises depend on demand generated by theassociation since many of them have long-standing clients there. In addition, several suppliers will concentrate on the US, especially as it is seen to recover further from the recent downturn.
- Rising raw material and manpower costs are adversely affecting the viability of companies. Expenditure on inputs used for the base and inlay have increased over the past 12 months. In addition, government mandated wage adjustments further erode manufacturers’ profit margins.
- The sector targets the low end and midrange, but is also capable of creating upscale models. The main factors that determine prices are the type of materials used, the number of lacquer layers, and design and production complexity.
More information can be found in the report “Vietnam Sourcing Reports: Lacquerware” by Global Sources.
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