Vietnam Structural Steel Market Size & Outlook, 2022-2030
Vietnam structural steel market, 2018-2030 (US$M)
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Vietnam structural steel market highlights
- The Vietnam structural steel market generated a revenue of USD 1,425.7 million in 2022 and is expected to reach USD 2,005.0 million by 2030.
- The Vietnam market is expected to grow at a CAGR of 4.4% from 2023 to 2030.
- In terms of segment, non-residential was the largest revenue generating application in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
Structural steel market data book summary
| Market revenue in 2022 | USD 1,425.7 million |
| Market revenue in 2030 | USD 2,005.0 million |
| Growth rate | 4.4% (CAGR from 2022 to 2030) |
| Largest segment | Non-residential |
| Fastest growing segment | Non-residential |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-residential |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Gerdau SA ADR, Nippon Steel Corp, Tata Steel Ltd GDR - 144A, Steel Authority Of India Ltd DR |
Other key industry trends
- In terms of revenue, Vietnam accounted for 1.2% of the global structural steel market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China structural steel market is projected to lead the regional market in terms of revenue in 2030.
- Taiwan is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,140.6 million by 2030.
Non-residential was the largest segment with a revenue share of 51.74% in 2022. Horizon Databook has segmented the Vietnam structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
Vietnam emerged as one of the key markets for structural steel in South East Asia in 2019. It is one of the fastest-growing economies in South East Asia and has witnessed a robust economic growth of 7.1% in 2019.
This growth is majorly influenced by the expanding construction sector in the country. Moreover, the Ease of Doing Business (EoDB) index in Vietnam continues to improve, which is expected to encourage multinational companies to bolster their investments in the country.
Despite the ongoing trade war between the U.S. and China, pre-engineered buildings market in the country continues to flourish owing to its improving status as a regional manufacturing hub, growing demand from domestic construction industry.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Vietnam structural steel market size, by application, 2018-2030 (US$M)
Vietnam Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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