Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Vietnam Isocyanates Import Research Report 2024-2033" report has been added to ResearchAndMarkets.com's offering.
The publisher analyzes that the upstream industries for isocyanates mainly include petrochemical raw materials such as benzene and toluene, which are transformed through complex chemical reactions to produce isocyanate monomers. The downstream industries include polyurethane manufacturing, which covers a wide range of products such as foams, coatings, adhesives, elastomers, and fibers. Isocyanates are extensively used across these sectors, encompassing nearly all products related to polyurethane.
The global isocyanate industry is highly concentrated, with major producers including BASF, Covestro, Dow Chemical, Huntsman, Mitsui Chemicals, and Tosoh Corporation.
With the development and industrialization of Vietnam, downstream industries for isocyanates, such as chemicals and plastics, are growing rapidly, leading to an increasing market size for isocyanates in Vietnam.
Benefiting from government support, chemical industry capacity transfers, and lower production costs, Vietnam's chemical industry has seen rapid growth and has become a significant part of the country's industrialization process. According to the publisher, Vietnam exports a large number of plastic products annually, which has driven the demand for isocyanates.
Additionally, the construction and automotive industries in Vietnam are driving demand for polyurethane products, especially in building insulation materials and furniture manufacturing. The analysis by the publisher indicates that due to continued economic and population growth, improved industrial infrastructure, and ongoing foreign investment, the chemical, plastics, and construction industries in Vietnam are expected to maintain robust growth. Therefore, the demand for isocyanates in Vietnam is continually increasing.
However, due to limited local production capacity and a lack of chemical industry basis, technology, and equipment, large-scale production of isocyanates is not cost-effective in Vietnam, leading to a reliance on imports.
According to the publisher data, in 2023, the total value of isocyanate imports into Vietnam exceeded USD 200 million. From January to June 2024, the cumulative import value of isocyanates reached approximately USD 120 million, a year-on-year increase of about 13%.
The publisher reports that from 2021 to 2024, major sources of isocyanate imports into Vietnam include China, Japan, and South Korea. Key exporters to Vietnam are WANHUA CHEMICAL (SINGAPORE) PTE LTD, BASF COMPANY LTD, and MITSUI CHEMICALS INC.
The main importers of isocyanates in Vietnam are companies in the chemical industry and distributors, with a predominance of foreign-invested enterprises such as HYOSUNG VIETNAM CO, LTD, BASF VIETNAM CO, LTD, and SAN FANG (VIETNAM) CO, LTD.
Overall, with Vietnam's economic development, rising income levels, expanding consumer market, and progress in manufacturing, the import of isocyanates is expected to continue growing in the coming years.
Topics covered:
- The Import and Export of Isocyanates in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Isocyanates in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Isocyanates in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Isocyanates in Vietnam (January-June 2024)
- Total Import Value and Percentage Change of Isocyanates in Vietnam (January-June 2024)
- Average Import Price of Isocyanates in Vietnam (2021-2024)
- Top 10 Sources of Isocyanates Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Isocyanates in Vietnam and Their Supply Volume
- Top 10 Importers of Isocyanates in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Isocyanates in Vietnam
- How Foreign Enterprises Enter the Isocyanates Market of Vietnam
- Forecast for the Import of Isocyanates in Vietnam (2024-2033)
Key Topics Covered:
1 Overview of Vietnam
1.1 Geography of Vietnam
1.2 Economic Condition of Vietnam
1.3 Demographics of Vietnam
1.4 Domestic Market of Vietnam
1.5 Recommendations for Foreign Enterprises Entering the Vietnam Isocyanates Imports Market
2 Analysis of Isocyanates Imports in Vietnam (2021-2024)
2.1 Import Scale of Isocyanates in Vietnam
2.1.1 Import Value and Volume of Isocyanates in Vietnam
2.1.2 Import Prices of Isocyanates in Vietnam
2.1.3 Apparent Consumption of Isocyanates in Vietnam
2.1.4 Import Dependency of Isocyanates in Vietnam
2.2 Major Sources of Isocyanates Imports in Vietnam
3 Analysis of Major Sources of Isocyanates Imports in Vietnam (2021-2024)
3.1 China
3.1.1 Analysis of Import Value and Volume
3.1.2 Analysis of Average Import Price
3.2 Japan
3.2.1 Analysis of Import Value and Volume
3.2.2 Analysis of Average Import Price
3.3 South Korea
3.3.1 Analysis of Import Value and Volume
3.3.2 Analysis of Average Import Price
3.4 Hong Kong
3.5 Singapore
3.6 Taiwan
4 Analysis of Major Suppliers in the Import Market of Isocyanates in Vietnam (2021-2024)
4.1 WANHUA CHEMICAL(SINGAPORE) PTE LTD
4.1.1 Company Introduction
4.1.2 Analysis of Isocyanates Exports to Vietnam
4.2 BASF COMPANY LTD
4.2.1 Company Introduction
4.2.2 Analysis of Isocyanates Exports to Vietnam
4.3 MITSUI CHEMICALS INC
4.3.1 Company Introduction
4.3.2 Analysis of Isocyanates Exports to Vietnam
5 Analysis of Major Importers in the Import Market of Isocyanates in Vietnam (2021-2024)
5.1 HYOSUNG VIETNAM CO, LTD
5.1.1 Company Introduction
5.1.2 Analysis of Isocyanates Imports
5.2 BASF VIETNAM CO, LTD
5.2.1 Company Introduction
5.2.2 Analysis of Isocyanates Imports
5.3 SAN FANG (VIETNAM) CO, LTD
5.3.1 Company Introduction
5.3.2 Analysis of Isocyanates Imports
6. Monthly Analysis of Isocyanates Imports in Vietnam from 2021 to 2024
6.1 Analysis of Monthly Import Value and Volume
6.2 Forecast of Monthly Average Import Prices
7. Key Factors Affecting Isocyanates Imports in Vietnam
7.1 Policy
7.1.1 Current Import Policies
7.1.2 Trend Predictions for Import Policies
7.2 Economic
7.2.1 Market Prices
7.2.2 Growth Trends of Isocyanates Production Capacity in Vietnam
7.3 Technology
8. Forecast for the Import of Isocyanates in Vietnam, 2024-2033
For more information about this report visit https://www.researchandmarkets.com/r/jykzem
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