Vietnam ABS resin Import Research Report 2024-2033

Vietnam ABS resin Import Research Report 2024-2033

ABS resin (Acrylonitrile-Butadiene-Styrene Copolymer) is a high-performance thermoplastic widely used due to its excellent mechanical properties and impact resistance. It also has stable electrical properties over a wide frequency range, unaffected by temperature and atmospheric humidity within acceptable working conditions. ABS resin is extensively utilized in various sectors, including automotive, electronics, electrical appliances, building materials, toys, and biomedical fields. In recent years, it has also been increasingly used in 3D printing. For example, in the automotive industry, ABS is used to manufacture dashboards, wheel covers, and interior parts; in electronics and electrical appliances, it is used for TV housings, telephones, and computer components; in building materials, it is used for pipes, sheets, and decorative materials. Its excellent processing and molding capabilities allow ABS to meet the demands for various complex shapes and fine structures. Major ABS resin producers in the Asia-Pacific region and globally include LG Chem, Asahi Kasei, Chimei Corporation, and Dow Chemical.

In recent years, Vietnam's manufacturing sector has seen rapid development, particularly in the plastics industry and its downstream sectors such as construction, automotive parts manufacturing, electrical cables, textiles, and daily necessities, which have significant market expansion potential. This growth has led to an increasing demand for ABS resin in Vietnam. According to CRI, there are currently about 4,000 plastic companies in Vietnam, and the plastic industry is experiencing robust growth, attracting many international investors. In 2023, Vietnam imported 6.82 million tons of plastic raw materials worth US$ 9.76 billion. The export value of plastic products is expected to reach US$ 3.15 billion in 2024, indicating the strong demand for synthetic resins in Vietnam's downstream industries.

CRI’s analysis also shows that Vietnam's domestic production capacity for plastic raw materials is insufficient, with about 70% of the raw materials being imported. In 2023, the total import value of ABS resin in Vietnam was approximately US$ 460 million. From January to May 2024, the cumulative import value of ABS resin in Vietnam exceeded US$ 220 million based on the data of CRI, showing continuous market demand growth. With the rapid industrialization and urbanization in Vietnam, the demand for ABS resin is steadily increasing. The fast growth in Vietnam's electronics and electrical appliances manufacturing and automotive assembly sectors has significantly driven the demand for high-performance materials like ABS resin. Many local and foreign companies are increasing their investments in ABS resin application fields to meet the growing market demand.

According to CRI, from 2021 to 2024, the main sources of Vietnam's ABS resin imports included China, South Korea, Taiwan, and Malaysia. Key exporters of this product to Vietnam are LOTTE Chemical, INEOS Styrolution Korea Ltd., and INABATA. The main importers of ABS resin in Vietnam are plastic material and product manufacturers, distributors, and logistics companies, primarily foreign-invested enterprises. Many of these importers are subsidiaries of multinational companies in Vietnam, such as Konoike Vinatrans Logistics Co. Ltd., SIK Vietnam Co., Ltd., and Honda Trading Vietnam Co., Ltd.

Overall, with the growth of Vietnam's population and the continued development of the manufacturing industry, CRI expects that in the next few years, Vietnam's ABS Resin imports will continue to maintain a growth trend.

Topics covered:

• The Import and Export of ABS Resin in Vietnam (2021-2024)
• Total Import Volume of ABS Resin in Vietnam (2021-2024)
• Total Import Value and Growth Rate of ABS Resin in Vietnam (2021-2024)
• Total Import Value and Growth Rate of ABS Resin in Vietnam (January-May 2024)
• Average Import Price of ABS Resin in Vietnam (2021-2024)
• Top 10 Sources of ABS Resin Imports in Vietnam and Their Supply Volume
• Top 10 Suppliers in the Import Market of ABS Resin in Vietnam and Their Supply Volume
• Top 10 Importers of ABS Resin in Vietnam and Their Import Volume
• How to Find Distributors and End Users of ABS Resin in Vietnam
• How Foreign Enterprises Enter the Plastic Raw Material Market of Vietnam
• Forecast for the Import of ABS Resin in Vietnam (2024-2033)