Vietnam: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Vietnam

The Vietnamese cold-rolled steel products market surged to $X in 2022, rising by X% against the previous year. Overall, consumption showed a significant expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cold-Rolled Steel Products Production in Vietnam

In value terms, cold-rolled steel products production stood at $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X,497,000%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

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Cold-Rolled Steel Products Exports

Exports from Vietnam

In 2022, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) exported from Vietnam declined to X tons, with a decrease of X% on the previous year's figure. In general, exports recorded a slight setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, cold-rolled steel products exports declined to $X in 2022. Over the period under review, exports saw a mild descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), the United States (X tons) and Malaysia (X tons) were the main destinations of cold-rolled steel products exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the United States ($X) and Belgium ($X) appeared to be the largest markets for cold-rolled steel products exported from Vietnam worldwide, together accounting for X% of total exports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Vietnam

Cold-rolled steel products imports into Vietnam declined modestly to X tons in 2022, with a decrease of X% against 2021. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports dropped to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of cold-rolled steel products imports to Vietnam, with a combined X% share of total imports. Taiwan (Chinese), Thailand and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the largest cold-rolled steel products suppliers to Vietnam, together comprising X% of total imports. Taiwan (Chinese), Thailand and India lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cold-rolled steel products import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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