Vietnam Chemicals Sector Posted 19.25% Growth during 2010-2014, States VIRAC in Its Topical Report Available at MarketPublishers.com07 Jul 2016 • by Natalie Aster
LONDON – Vietnam’s chemicals industry recorded growth of 19.25% during 2010-2014, and is set to keep on seeing substantial growth moving forward. Chemicals are ranked 11th in the list of the major items imported to the country with a turnover of USD 1.94 billion; the sector has just begun to develop filling only 15-20% of demand with consumption in many areas every year being so high.
The fertilizer and nitrogen segment accounts for the lion’s share of 30% of the total industry revenue, followed by detergents. Synthetic fibers contribute little to the structure of chemical industry in terms of revenue.
However, Vietnamese chemical industry faces a challenge of inability to supply input materials, as a result of which most input materials have to be imported with China being the largest import market, capturing around 30% of the USD 988 million total import turnover. Another looming issue in Vietnam is the second-rate technology machinery systems which are mainly at average low level as compared to other countries in the region, leading to the low added value and decreased productivity.
Petro Vietnam Fertilizer and Chemicals Corporation (PVFCCo), Petro Vietnam Ca Mau Fertilizer JSC (PVCFC), Binh Dien Fertilizer JSC, Lam Thao Superphosphate Fertilizer and Chemicals JSC (LAFCHEMCO), among others, are amid the leading players in the industry.
Topical research report “Vietnam Chemicals Comprehensive Report Q2/2016” elaborated by Vietnam Industry Research And Consultant (VIRAC) offers deep insights into performance of the chemicals sector globally with a focus on Vietnam.
The study covers the overall scenario of the global, regional and national economies, with America, China, and Germany discussed. It gives a detailed analysis of the 8 product segments, providing a granular analysis of production, consumption, foreign trade, raw materials, and technology with respect to each segment. The report examines the competitive structure and provides profiles of the top producers and key suppliers alongside analysis their financials. It also contains data on prices, cost, and indicators for 2008-2014. Detailed forecasts of the prospective development path of the worldwide and domestic chemicals markets are also presented in the study.
More reports by our partner are available at VIRAC page.