Dublin, Aug. 15, 2022 (GLOBE NEWSWIRE) -- The "Research Report on Vietnam's Fertilizer Market, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
Agriculture plays an important role in Vietnam's economy, with the agricultural population accounting for over 50% of the total population, and arable and forest land accounting for 60% of the country's total land area.
According to the analyst's analysis, Vietnam features a low concentration in the fertilizer market, with local companies accounting for about 70% of the market share. Based on the overall revenue of Vietnam's fertilizer market in 2020, the top five companies accounted for about 28% of the market. Major fertilizer producers in the Vietnam market are adopting various strategies such as expansion and partnerships to increase their market share.
The main varieties of fertilizers exported from Vietnam are ammonium sulfate, phosphate diamine, NPK, etc. The Philippines, Malaysia, Thailand, Laos, South Korea, etc. are the main export markets of Vietnam's fertilizers.
At the same time, every year Vietnam imports more than 1 million tons of fertilizers, among which, ammonium sulfate is the most imported. Currently, China is the largest supplier of fertilizers to Vietnam, accounting for nearly 50% of the country's imports.
According to the analyst's analysis, despite the impact of COVID-19 on Vietnam's economy, Vietnam's fertilizer industry still showed growth in 2020. Despite supply chain and logistics disruptions, Vietnam's fertilizer exports and imports are still on the rise. In particular, fertilizer imports reached 3.64 million tons, up 7.2% YOY. Vietnam's fertilizer exports also rose 38% in 2020 compared to 2019. In 2021, Vietnam exported 1.35 million tons fertilizer and imported 3.07 million tons fertilizer.
Although the demand for fertilizers in Vietnam in 2020 was adversely affected by extreme weather conditions, in general, the business situation was good, with the leading companies showing significant growth in business performance. The most popular distribution channels in the country include distributor system, regional company system and authoritative purchasing.
Fertilizer's price in Vietnam's market showed a fluctuating trend in 2020, increasing in the second half of the year. Fertilizer prices continued to rise in 2021 as demand increased and supply declined.
According to the analysis, the positive outlook for agriculture is the factor driving the growth of fertilizer consumption in the country in 2022. The good weather and high prices of agricultural products in Vietnam in 2022 will provide good conditions for farmers to increase planting for higher productivity, which will increase the demand for fertilizer.
Key Questions Answered:
- What are the key drivers, challenges, and opportunities for the Vietnam fertilizer industry during 2022-2031?
- What is the expected revenue of Vietnam's fertilizer market during 2022-2031?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of Vietnam's fertilizer market is expected to dominate the market in 2031?
- What are the major adverse factors facing the fertilizer industry in Vietnam?
Key Topics Covered:
1 Overview of Vietnam
1.1 Geographical Situation
1.2 Demographic Structure of Vietnam
1.3 Vietnam's Economy
1.4 Minimum Wage in Vietnam, 2011-2021
1.5 Impact of COVID-19 on Vietnam's Fertilizer Industry
2 Development Environment of Vietnam's Fertilizer Industry
2.1 Development History of Fertilizer in Vietnam
2.2 Types of Fertilizers in Vietnam
2.3 Policy Environment of Vietnam's Fertilizer Industry
3 Supply and Demand situation of Vietnam's Fertilizer Industry
3.1 Supply Situation
3.2 Demand Situation
4 Import and Export of Fertilizer Industry in Vietnam
4.1 Import Status
4.1.1 Import Volume and Import Value
4.1.2 Main Import Sources of Fertilizer in Vietnam
4.2 Export Status
4.2.1 Export Volume and Export Value
4.2.2 Main Export Destinations of Fertilizer in Vietnam
5 Market Competition in Vietnam's Fertilizer Industry
5.1 Barriers to Entry in Vietnam's Fertilizer Industry
5.1.1 Brand barrier
5.1.2 Quality Barrier
5.1.3 Capital Barrier
5.2 Competitive Structure of Vietnam's Fertilizer Industry
5.2.1 Bargaining power of Fertilizer Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Competition in Vietnam's Fertilizer Industry
5.2.4 Potential Entrants in the Fertilizer Industry
5.2.5 Substitutes for Fertilizer
6 Analysis of Major Fertilizer Brand Companies in Vietnam
6.1 Binh Dien Fertilizer JSC (BFC)
6.1.1 Development History of Binh Dien Fertilizer JSC (BFC)
6.1.2 Main Products of Binh Dien Fertilizer JSC (BFC)
6.1.3 Operation Model of Binh Dien Fertilizer JSC (BFC)
6.2 Southern Fertilizer JSC
6.3 PetroVietnam Fertilizer and Chemical Corp.
6.4 Ninh Binh Phosphate Fertilizer JSC
6.5 Habac Nitrogenous Fertilizer & Chemicals Company Limited
6.6 Lam Thao Fertilizers and Chemicals JSC
6.7 Que Lam Group
6.8 Agricultural Products and Materials JSC (APROMACO)
6.9 Song Gianh Corporation
6.10 Thien Sinh JSC
6.11 DAP Dinh Vu Fertilizers
6.12 DUC Giang Chemicals
7 Outlook on Vietnam's Fertilizer Industry, 2022-2031
7.1 Analysis of Development Factors of Vietnam's Fertilizer Industry
7.1.1 Drivers and Development Opportunities for Vietnam's Fertilizer Industry
7.1.2 Threats and Challenges to Vietnam's Fertilizer Industry
7.2 Forecast on Vietnam's Fertilizer Industry Supply
7.3 Forecast on Vietnam's Fertilizer Market Demand
7.4 Forecast on Vietnam's Fertilizer Import and Export
For more information about this report visit https://www.researchandmarkets.com/r/fqqpog
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