Vietnam Flat Steel Market (2025-2031) Outlook | Industry, Share, Forecast, Value, Growth, Analysis, Trends, Size, Revenue & Companies
Market Forecast By process (Basic Oxygen Furnace, Electric Arc Furnace), By type (Sheets & Strips, Plates), By end-use sector (Building & Infrastructure, Mechanical Equipment, Automotive & Other Transport, Others) And Competitive Landscape
| Product Code: ETC356730 | Publication Date: Aug 2022 | Updated Date: Aug 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
Vietnam Flat Steel Market Size Growth Rate
The Vietnam Flat Steel Market is projected to witness mixed growth rate patterns during 2025 to 2029. Growth accelerates to 15.28% in 2027, following an initial rate of 13.75%, before easing to 12.17% at the end of the period.
Flat Steel Market: Vietnam vs Top 5 Major Economies in 2027 (Asia)
The Flat Steel market in Vietnam is projected to grow at a exponential growth rate of 15.28% by 2027, within the Asia region led by China, along with other countries like India, Japan, Australia and South Korea, collectively shaping a dynamic and evolving market environment driven by innovation and increasing adoption of emerging technologies.
Vietnam Flat Steel Market Synopsis
Flat steel products, including sheets and plates, are integral to several industries, such as automotive, construction, and manufacturing. The Vietnam flat steel market experiences consistent demand, with growth driven by infrastructure development and industrial expansion. Domestic production and imports both contribute to meeting the country`s requirements for flat steel products. Manufacturers focus on quality, cost-effectiveness, and customization to remain competitive.
Drivers of the Market
The Vietnam flat steel market is thriving due to multiple factors. Firstly, the construction and infrastructure development in the country are fueling demand for flat steel products, including sheets and plates. The real estate sector, in particular, requires these materials for constructing buildings and infrastructure projects. Additionally, the manufacturing and automotive industries rely on flat steel for fabricating components and parts. The government`s initiatives to promote domestic production of steel and reduce reliance on imports also drive growth in this market.
Challenges of the Market
The Vietnam flat steel market is grappling with challenges related to overcapacity and excess supply. The market is characterized by intense competition among domestic and international players, leading to price wars and shrinking profit margins. Additionally, the market is highly sensitive to fluctuations in raw material prices, especially iron ore and coal. Rising environmental concerns and the need to comply with stricter regulations on emissions also pose challenges for steel manufacturers in Vietnam.
COVID-19 Impact on the Market
The flat steel market in Vietnam faced disruptions due to the COVID-19 pandemic. The automotive and construction sectors, which are major consumers of flat steel, were severely impacted by lockdowns and reduced consumer spending. This led to a decrease in demand, causing a surplus of flat steel in the market. Manufacturers had to adjust production levels and seek alternative markets for their products. As the economy slowly recovered, the market began stabilizing, but it took time for pre-pandemic levels of demand to return.
Key Players in the Market
The Vietnam flat steel market is dominated by major players like Hoa Sen Group, Nam Kim Steel, and Ton Dong A Corporation. These companies have extensive experience in producing flat steel products for applications in construction, manufacturing, and infrastructure projects. Hoa Sen Group, in particular, has a strong distribution network and a diverse product portfolio, making it a leader in the flat steel segment.
Key Highlights of the Report:
- Vietnam Flat Steel Market Outlook
- Market Size of Vietnam Flat Steel Market, 2024
- Forecast of Vietnam Flat Steel Market, 2031
- Historical Data and Forecast of Vietnam Flat Steel Revenues & Volume for the Period 2021-2031
- Vietnam Flat Steel Market Trend Evolution
- Vietnam Flat Steel Market Drivers and Challenges
- Vietnam Flat Steel Price Trends
- Vietnam Flat Steel Porter's Five Forces
- Vietnam Flat Steel Industry Life Cycle
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By process for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Basic Oxygen Furnace for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Electric Arc Furnace for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By type for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Sheets & Strips for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Plates for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By end-use sector for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Building & Infrastructure for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Mechanical Equipment for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Automotive & Other Transport for the Period 2021-2031
- Historical Data and Forecast of Vietnam Flat Steel Market Revenues & Volume By Others for the Period 2021-2031
- Vietnam Flat Steel Import Export Trade Statistics
- Market Opportunity Assessment By process
- Market Opportunity Assessment By type
- Market Opportunity Assessment By end-use sector
- Vietnam Flat Steel Top Companies Market Share
- Vietnam Flat Steel Competitive Benchmarking By Technical and Operational Parameters
- Vietnam Flat Steel Company Profiles
- Vietnam Flat Steel Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
6Wresearch actively monitors the Vietnam Flat Steel Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the Vietnam Flat Steel Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
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