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VIETNAM TEXTILE INDUSTRY

STUDY PERIOD (2016 - 2025)
The Study Offers:
• A detailed understanding of the current market dynamics and growth opportunities
• An in-depth analysis and market forecast for various applications in the textile industry
• Assessment of COVID-19 impact on the industry
• Analysis of the competitive landscape, including key strategies and recent developments of the top vendors in
the Vietnamese textile industry.

Domain: Chemicals and Materials Base Year: 2019 Forecast Period: 2020-2025

Industry Reports | Consulting | Intelligence Center

+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com
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 DISCLAIMER

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 TABLE OF CONTENTS
1. INTRODUCTION 4.4.5 Degree of Competition

1.1 Study Assumptions 4.5 Export Scenario

1.2 Scope of the Study 5. MARKET SEGMENTATION

2. RESEARCH METHODOLOGY 5.1 By Textile Type

3. EXECUTIVE SUMMARY 5.1.1 Fiber

4. MARKET DYNAMICS 5.1.2 Yarn

5.1.3 Fabric
4.1 Drivers
5.1.4 Garment
4.1.1 EU, The United States, Japan, and South Korea as the
Largest Export Destination 5.1.5 Other Textiles

4.1.2 Low Cost of Labor Led to Increased Investment 6. COMPETITIVE LANDSCAPE

4.1.3 Other Drivers 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and

4.2 Restraints Agreements

4.2.1 Impact of COVID-19 Outbreak 6.2 Market Share/Ranking Analysis**

6.3 Strategies Adopted by Leading Players
4.2.2 Other Restraints
6.4 Company Profiles (Overview, Financials, Products and Services, and
4.3 Industry Value Chain Analysis
Recent Developments)
4.4 Industry Attractiveness - Porter's Five Forces Analysis
6.4.1 Bitexco Nam Long Joint Stock Company
4.4.1 Bargaining Power of Suppliers
6.4.2 Dong Quang Spinning Corporation
4.4.2 Bargaining Power of Consumers
6.4.3 Dotihutex
4.4.3 Threat of New Entrants
6.4.4 G Home Textile Investment JSC
4.4.4 Threat of Substitute Products and Services
6.4.5 Ha Nam Textile Company

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 TABLE OF CONTENTS
6.4.6 Hanoi Textile And Garment Joint Stock Corporation
6.4.7 Hue Textile Garment Joint Stock Company
6.4.8 Kyungbang Vietnam Co. Ltd
6.4.9 Mirae Joint Stock Company
6.4.10 Petrovietnam Petrochemical And Textile Fiber Joint Stock
Company

6.4.11 Thanh Cong Textile Garment Investment Trading JSC

6.4.12 TNG Investment & Trading JSC
6.4.13 Viet Hong Textile & Dyeing JVC
*List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Government Initiatives to Attract Investment in the Industry
7.2 Other Opportunities
**Subject to Availability on Public Domain

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2. RESEARCH
METHODOLOGY

5
 RESEARCH METHODOLOGY

■ Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research to meet clients’ objectives.

■ MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights.

■ The following phases are practiced at Mordor for efficient delivery of various syndicated and consulting assignments:

STEP 1 STEP 2 STEP 3

SCOPING/ PROJECT INITIATION MARKET ANALYSIS PROJECT DELIVERY

Decipher client requirements/ market to be

Extensive desk research to identify most relevant secondary information available
studied

Tailor-made research approach for

Contact Mordor’s empaneled experts and identify industry experts across the market
customized reports

Effective use of Mordor’s knowledge

Conduct primaries and surveys to gather qualitative and quantitative insights
repository to gather relevant insights

Confirm the objectives of the assignment with

Triangulate and analyze data to finalize actionable business insights
the client

Finalize report contents and establish Report delivery with high-quality market insights, competitive landscape, etc.,
a deliverable format as per the proposed content

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 RESEARCH PHASES EXPLAINED

SECONDARY RESEARCH PRIMARY RESEARCH

This phase involves a thorough synthesis of existing publications across the web ◼ At Mordor, we pool in industry experts across the value chain, to gather first-
to gather meaningful insights on the current situation of the market, hand insights on the market studied. In addition to these knowledgeable
technological developments, and any other market-related information. The industry veterans or retired experts, consultants and freelancers are a call away to
sources include, but are not limited to: collaborate with Mordor on any assignment that requires real-time industry
insights.
◼ Scientific papers, journals, and publications ◼ We are also equipped to conduct market surveys to gather qualitative insights
◼ Trade information to understand imports, exports, and average traded price and the opinion of individuals related to the industry.
of the commodity, if available ▪ Primary research is used, both, to validate the data points obtained from
secondary research and to fill the data gaps after secondary research. Data
◼ Industry and government websites for blogs, magazines, and other
gathered during the primary research phase are useful to arrive at critical
publications
insights, both qualitative and quantitative; these insights can be used to
◼ Conference proceedings and association publications ascertain the following:
▪ Critical market dynamics (drivers, restraints, future, and regulations) and
◼ Investor presentations, technical brochures, annual reports, press releases,
their impact
transcripts of key personnel interviews, and other strategic publications by key
players in the market ▪ Market distribution across various segments
▪ Market entry for new companies and insights on competitive landscape
◼ Product information, including technical specifications, MSDS, approvals,
patents, etc. MODES OF PRIMARY RESEARCH
◼ Public sources/trade reports (UNComtrade, METI, Eurostat, etc.)
•and Other
◼ Paid sources (Questel Orbit, D&B Hoovers, Statista, etc.) Modes of
Primary
◼ Other sources, including journals, articles, etc. (for prices and usage patterns) Telephonic Email Chat Virtual Research
Surveys
Interviews Interviews Interviews Council

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 RESEARCH PHASES EXPLAINED

DATA TRIANGULATION AND INSIGHT GENERATION

◼ Based on the factors (both endogenous and exogenous in nature) identified and collected during the secondary and primary phases, our in-house subject-matter
experts transform the quantitative data extracted and use them to infer critical insights.
▪ The market size estimations are carried out through ‘bottom-up’ and ‘top-down’ approaches.
▪ Our top-down and bottom-up approaches are integrated into our ‘In-house Model Sheets’, which are used to generate the market estimates and growth rates
(depending upon the historical trends of the respective markets, along with various factors, such as drivers, restraints, and recent developments in the market) of the
product segment in the respective country.

It is a process of combining outcomes from different sources to increase the

validity and reliability of the results. This process also helps strengthen
DATA
conclusions about findings and reduce the risk of false interpretations. The
TRIANGULATION insights obtained from both secondary and primary research are analyzed and DATA
validated by the process of data triangulation to arrive at closer estimates. TRIANGULATION

An econometric model is a simplified representation of a real-world process. REPORT

ECONOMETRIC Here, the tools of econometric theory are used to analyze and forecast WRITING
MODELING economic phenomenon and to solve unknown quantities, such as forecast
demand, supply, investment, production, consumption, etc.

ECONOMETRIC
MODELING
REPORT After the data is curated, analysts populate the report. From data and forecast,
WRITING insights are drawn to visualize the entire ecosystem in a single report.

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4. MARKET DYNAMICS
4.1 Drivers

− 4.1.1 EU, The United States, Japan, and

South Korea as the Largest Export
Destination

− 4.1.2 Low Cost of Labor Led to Increased

Investment

− 4.1.3 Other Drivers

4.2 Restraints

− 4.2.1 Impact of COVID-19 Outbreak

− 4.2.2 Other Restraints

4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces
Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Consumers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products and Services

4.4.5 Degree of Competition

4.5 Export Scenario

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 4. MARKET DYNAMICS | 4.1 MARKET DRIVERS

4.1.1 EU, THE UNITED STATES, JAPAN, AND SOUTH KOREA AS THE
LARGEST EXPORT DESTINATION
 Vietnam is among the top textile producing nations in the world. The country is the fourth-
TURNOVER OF MAJOR EXPORT COMMODITIES
largest exporter for textiles, garments, and clothing, worldwide, after China, the European Union,
Revenue in USD billion, Vietnam, Jan 2019–Sep 2019
and Bangladesh. The country’s major exporting destinations are the United States, European
Union, Japan, and South Korea. The country’s garment industry exports 18% of the global.
38.6
 According to General Statistics Office of Vietnam, as of September 2019, garments and textile
exports had the third-largest turnover among Vietnam’s major commodities exports, at
approximately USD 24.77 billion.
 The country’s export has increased over the years to all the major nations across the world. 25.4 24.77
Despite abandoning the Trans-Pacific Partnership (TPP), the textile and garment industry reached
near to the annual target of USD 40 billion in 2019, according to the Vietnam Textile and Apparel
Association. The United States is the largest export destination followed by Europe.
13.33 12.91
 According to Vietnam National Textile and Garment Group (Vinatex), in 2019, Vietnam’s garment
industry with an export revenue of USD 39 billion, which is lower-than-expected export revenue
last year showed the industry had been facing problems in participating more deeply in the
global value chain and expanding exports to niche market
 Imports and exports of both apparel and garment items dropped dramatically in the first quarter
Phones And Electronics, Garment and Footwear Machinery,
of 2020 due to the outbreak of deadly coronavirus (COVID-19) disease, according to data from Components Computer and Textile Equipment,
Components Tools and
Vietnam's customs department. Clothing exports totalled USD 7.03 billion, down 1.4% Y-o-Y from Accessories
2019, and down 34% from projected increases of 50% prior to the pandemic.
Source: General Statistics Office of Vietnam
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 4. MARKET DYNAMICS | 4.1 MARKET DRIVERS

4.1.1 EU, THE UNITED STATES,

JAPAN, AND SOUTH KOREA AS
THE LARGEST EXPORT
DESTINATION
■ In 2019, Vietnam signed several significant trade
agreements, such as the EU-Vietnam Free Trade
Agreement (EVFTA), which led to the reduction of
tariffs and customs duties for both Vietnam and the
European Union, as well as the Comprehensive and
Progressive Agreement for Trans-Pacific Partnership
(CPTPP), which not only gave Canada access to the
Vietnamese market, but also facilitated the
integration of Vietnam in the global value chain. This
trade agreements are expected to provide boost to
the Vietnam textile industry.

■ The government has also been supporting Vietnam’s

textile industry with the construction of dedicated
textile industrial parks, such as Rang Dong Textile
Industrial Park in the Nam Dinh province, which is the
largest of its kind, and it has been scheduled to be
operational from 2022.

■ All these factors are likely to drive the growth for the
overall textile market, over the forecast period.

DETAILED ANALYSIS IN FULL REPORT

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 4. MARKET DYNAMICS

4.4 INDUSTRY ATTRACTIVENESS - PORTER'S FIVE FORCES ANALYSIS

Detailed Analysis in Full Report

 The bargaining power of suppliers is expected
THREAT OF NEW ENTRANTS
to be __________, in the market studied.

BARGAINING  The bargaining power of customers is expected

POWER OF to be _________, in the market studied.
SUPPLIERS
 The threat of new entratnts is expected to be
INTENSITY OF __________, over the forecast period.
THREAT OF COMPETITIVE
SUBSTITUTE RIVALRY  The threat of substitute products and services
PRODUCTS is likely to be __________, over the forecast
period.

 The degree of competition in the market

BARGANING
studied is anticipated to be __________, over the
POWER OF BUYERS
forecast period.

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 4. MARKET DYNAMICS | 4.4 INDUSTRY ATTRACTIVENESS - PORTER'S FIVE FORCES ANALYSIS

4.4.2 BARGAINING POWER OF THE BUYERS

MARKET PARAMETERS
DETAILED DESCRIPTION
Low High
FACTORS 0 2 4 6 8 10

Buyer concentration to firm

Detailed Analysis in Full Report
concentration ratio

Degree of dependency upon

existing channels of distribution

Levels of Market Penetration

Detailed Analysis in Full Report

Buyer information availability

Force down prices

Availability of existing substitute

products

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5. MARKET
SEGMENTATION
5.1 Textile Type

14
5.1 BY TEXTILE TYPE
5.1.1 Fiber

5.1.2 Yarn

5.1.3 Fabric

5.1.4 Garment

5.1.5 Other Textile Types

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 5. MARKET SEGMENTATION

5.1 TEXTILE TYPE

VIETNAM TEXTILE INDUSTRY

Revenue in USD million, by Textile Type, Vietnam, 2016-2025

Textile Type 2016 2017 2018 2019 2020 (est.) 2025 (f) CAGR (%) (2020-2025)

Fiber XX XX XX XX XX XX XX

Yarn XX XX XX XX XX XX XX

Fabric XX XX XX XX XX XX XX%

Garment XX XX XX XX XX XX XX%

Other Textile Types XX XX XX XX XX XX XX

Total XX XX XX XX XX XX XX

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 5. MARKET SEGMENTATION | 5.1 BY TEXTILE TYPE

5.1.2 YARN
 Vietnam exports about 65% of its yarns to international markets, primarily to China, South Korea, and Turkey. According to estimates, in 2018, yarn exports reached at a
value of almost 1.5 million metric ton, up about 10% over the last year, of which China, South Korea, and Turkey remain the largest importers, buying over 80% of total
cotton yarn exports.

 Vietnam produced more than 2.5 million metric ton of yarn in 2019, of which more than 1.5 million metric ton valued at USD 4 billion were exported, according to the
Vietnam Textile and Apparel Association (VITAS) and the production of textiles has rose six fold, with an export value of USD 2.1 billion.

 According to the Vietnam Cotton and Spinning Association, 70 per cent of Vietnam's yarn products have been exported to China, one of Vietnam's main markets, after
Turkey placed anti-dumping sanctions on Vietnam. However, China's fall in yarn imports due to trade issues with the US has had a significant effect on Vietnam's yarn
production.

 The Fourth Industrial Revolution, Free Trade Agreements (FTA) to come into force in 2020 and the entry of foreign companies such as Zara , H&M and Mango is expected
to stimulate growth of Vietnam’s Textile Industry over the forecast period.

 Simultaneously, few companies are focusing on various kinds of investments to tap into the expanding export market.

 TAL, a Hong Kong-based corporation, approved in early 2019 to construct a USD 350 million fabric plant in the province of Thai Nguyen.

 In February 2020, Texhong, another Hong Kong-based firm, pledged another USD 500 million (in addition to an current investment of USD 500 million) to increase yarn
and fabric production capacity in the Quang Ninh province.

 It is expected that these FDI companies would bring market pressure and spill-over benefits that could spur creativity and development among domestic and state-owned
fabric producers.
Detailed Analysis In Full Report
 Such aforementioned factors are expected to drive the yarn market in Vietnam, over the forecast period.

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6. COMPETITIVE
LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures,
Collaborations, and Agreements

6.2 Market Share/Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles (Overview, Financials,

Products and Services, and Recent
Developments)

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 6. COMPETITIVE LANDSCAPE

6.2 MARKET SHARE/RANKING ANALYSIS

VIETNAM TEXTILE INDUSTRY

Market Share (%)/Ranking, by Top Players, 2019

Detailed Analysis in Full Report

Detailed Analysis in Full Report

*Market share has been calculated, based on publicly available production capacities
(annual reports, SEC filings, association data, etc.), third party paid sources (D&B
Hoovers), and our estimation of the companies’ production capacities in the relevant
market (in case of unavailability of specific data in public domain)“

SOURCE: Mordor Intelligence Analysis

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6.4 COMPANY
PROFILES
6.4.1 Bitexco Nam Long Joint Stock Company
6.4.2 Dong Quang Spinning Corporation
6.4.3 Dotihutex
6.4.4 G Home Textile Investment JSC
6.4.5 Ha Nam Textile Company
6.4.6 Hanoi Textile And Garment Joint Stock
Corporation
6.4.7 Hue Textile Garment Joint Stock Company
6.4.8 Kyungbang Vietnam Co. Ltd
6.4.9 Mirae Joint Stock Company
6.4.10 Petrovietnam Petrochemical And Textile
Fiber Joint Stock Company
6.4.11 Thanh Cong Textile Garment Investment
Trading JSC
6.4.12 TNG Investment & Trading JSC
6.4.13 Viet Hong Textile & Dyeing JVC
*List Not Exhaustive

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 6. COMPETITIVE LANDSCAPE | 6.4 COMPANY PROFILES

6.4.11 THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC -

COMPANY OVERVIEW
 Thanh Cong is one of the textile and garment manufacturers in Vietnam involved in the
production of yarn to final garment.

 The company operates through various factories, such as fiber, textile, knitting, dyeing, and Founded in 1976
garment.

 The main business areas of the company include textiles, retail fashion, real estate, etc. The Ho Chi Minh

company sells its products through the brand name TCM.

www.thanhcong.com
 The company imports its raw materials from countries from the United States, West Africa,
Brazil, Thailand, Indonesia, and Taiwan
(84.8) 38153962

THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC

Revenue in VND billion, 2018-2019
VND 780.72 billion
7,364 Employees
Revenue (Q1 2020) 3,664

3,662

VND 40.97 billion VND 32.81 billion

Operating Profit (Q1 2020) Net Income (Q1 2020)
2018 2019

Source: First Quarter Report 2020

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 6. COMPETITIVE LANDSCAPE | 6.3 COMPANY PROFILES

6.4.11 THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC –

BUSINESS SEGMENTS

THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC

Revenue Share (%), by Product, 2019

9.7%

15.6% Garment Fabric

2.1%

Yarn Others
72.7%

Source: Annual Report

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 6. COMPETITIVE LANDSCAPE | 6.4 COMPANY PROFILES

6.4.11 THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC

PRODUCTS AND SERVICES

Product Type Product Range

• Cotton Carded Yarn

• Rayon Yarn (Viscose)
Spinning
• Rayon Yarn (Viscosevortex - MVS)
• Blended Yarn

• Raw Woven Fabric

• Uniform Fabric
Weaving
• Fashion Fabrics

Knitting • Raw Knitting Fabric

• Woven Fabric : Fashion (cloth, trousers, TR spandex); Uniform Fabrics (office, labor safety,...); Hi-
tech (anti-static, water-proof, anti bacteria,…)
Dyeing and Finishing
• Knitting Fabric: Casual, fashion, sport and hi-tech with functions of anti bacteria, anti UV, wicking,
soil release, anti UV, anti-static, etc.

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 6. COMPETITIVE LANDSCAPE | 6.4 COMPANY PROFILES

6.4.11 THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC-

PRODUCTS AND SERVICES

Product Type Product Range

• T-shirt
• Polo Shirt
• Sport Wear
• Children Wear
Sewing
• Uniform Wear
• Outer Wear
• Under Wear, etc.

DETAILED ANALYSIS IN FULL REPORT

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 6. COMPETITIVE LANDSCAPE | 6.4 COMPANY PROFILES

6.4.11 THANH CONG TEXTILE GARMENT INVESTMENT TRADING JSC –

RECENT DEVELOPMENTS
M Merger and Acquisition I Product Innovation E Expansion P Partnership

DETAILED ANALYSIS IN FULL REPORT

MAY 2020

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