According to the report analysis, ‘Vietnam Chemical Comprehensive Report Q1/2020’ states that in the Vietnam Chemical market there are innumerable corporate which recently operating more progressively for leading the fastest market growth and dominating the handsome worth of the market share around the region throughout the short span of time while spreading the awareness related to the applications of the chemicals, decreasing the linked cost, advancing the applications of the chemicals, improving the specifications of the production technologies, employing the young intellectual young workforce, studying the competitor’s strategies and accepting the profitable strategies includes PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION (DPM), BinhDien Fertilizer JSC (BFC) (BFC), Petro Vietnam Ca Mau Fertilizer Joint Stock Company (DCM), Lam thao Fertilizers and Chemicals Joint Stock Company (LAS), DUC GIANG DETERGENTS AND CHEMICALS JOINT STOCK COMPANY (DGC), Dry Cell And Storage Battery Joint Stock Company (PAC), VIETNAM FUMIGATION JOINT STOCK COMPANY (VFG), LIX DETERGENTS JOINT STOCK COMPANY (LIX), SOUTHERN BASIC CHEMICALS JSC (CSV), SAIGON PLANT PROTECTION JOINT STOCK COMPANY (SPC) and several others.
However, the Chemicals are an industry that plays an essential role in the economic development, delivering the inputs for several indispensable industries for introduction and consumption such as fertilizers, paints and inks, and pesticides, materials, detergents … Whereas, the chemical industry has 8 product groups, in Q4 / 2019, the export capacity of the chemical industry registered for effective % of the region’s total export turnover.
Not only has this, the fertilizers and nitrogen compounds: Fertilizer feasting in Q4 / 2019 diminished compared to the similar duration in 2018. Imports of fertilizers augmented in volume over the same duration in 2018 owing to the production in low region, policies to cut introduction.
Concerning the synthetic rubber and primary plastic resins: It is predicted that in Q4 / 2019, the country will introduce thousand tons of plastic resins, Vietnam’s entire plastic raw material exports will augment sharply in capacity and of effective value associated to the same duration during 2018.
Concerning detergents: During Q4 / 2019, the detergent production reached thousand tons, of which the washing powder was still the major product registering for the greatest proportion thanks to assistances from the populace growth and average income troop heads.
Concerning paint and ink: during Q4 / 2019, chemical paint construction reached thousand tons, ink introduction reached thousand tons. During the future, the paint and ink industry has constructive growth prospects.
Concerning pesticides: during the recent years, Vietnam’s pesticide market has grown-up on average 12% per year. Projected import value of pesticides and raw materials in Q4 / 2019 augmented over the same duration in 2018.
Basic chemicals: throughout Q3 / 2019, imports of basic chemicals augmented over the same duration in 2018, of which China was the major import market.
Concerning the man-made fear: during Q3 / 2019, the establishment of the man-made fibers augmented more actively compared to 2018, owing to the return of PV Text. Artificial fibers register for a foremost proportion of Vietnam’s fiber import and export turnover. Therefore, in the coming years, it is predicted that the market of chemical will increase around the region more increasingly over the upcoming future.
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Ankur Gupta, Head Marketing & Communications