Report Vietnam - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Mar 1, 2025

Vietnam - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Vietnam

The Vietnamese hot-rolled steel products market reduced to $X in 2021, falling by -7.7% against the previous year. Over the period under review, consumption, however, continues to indicate resilient growth. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Hot-Rolled Steel Products Production in Vietnam

In value terms, hot-rolled steel products production contracted modestly to $X in 2021 estimated in export price. In general, production, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 42%. Over the period under review, production reached the maximum level at $X in 2020, and then fell slightly in the following year.

Hot-Rolled Steel Products Exports

Exports from Vietnam

In 2021, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) exported from Vietnam soared to X tons, growing by 72% against 2020. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 196% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, hot-rolled steel products exports surged to $X in 2021. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 208%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons), Italy (X tons) and Mexico (X tons) were the main destinations of hot-rolled steel products exports from Vietnam, with a combined 71% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +529.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Vietnam were Malaysia ($X), Italy ($X) and Mexico ($X), with a combined 71% share of total exports.

Mexico, with a CAGR of +369.5%, recorded the highest growth rate of the value of exports, among 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

The average hot-rolled steel products export price stood at $X per ton in 2021, jumping by 77% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Vietnam

Hot-rolled steel products imports into Vietnam shrank sharply to X tons in 2021, falling by -20.1% on the previous year's figure. In general, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports surged to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.5% against 2015 indices. The pace of growth was the most pronounced in 2017 when imports increased by 39%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Japan (X tons) were the main suppliers of hot-rolled steel products imports to Vietnam, with a combined 60% share of total imports. Taiwan (Chinese), South Korea, Russia, Indonesia and Brazil lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +59.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Japan ($X) constituted the largest hot-rolled steel products suppliers to Vietnam, with a combined 58% share of total imports. South Korea, Taiwan (Chinese), Indonesia, Russia and Brazil lagged somewhat behind, together accounting for a further 40%.

Indonesia, with a CAGR of +75.5%, recorded the highest rates of growth with regard to 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

The average hot-rolled steel products import price stood at $X per ton in 2021, increasing by 65% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China constituted the country with the largest volume of hot-rolled steel products consumption, comprising approx. 53% of total volume. Moreover, hot-rolled steel products consumption in China exceeded the figures recorded by the second-largest consumer, India, sevenfold. The third position in this ranking was occupied by the United States, with a 7% share.
China remains the largest hot-rolled steel products producing country worldwide, comprising approx. 54% of total volume. Moreover, hot-rolled steel products production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. South Korea ranked third in terms of total production with a 6.4% share.
In value terms, the largest hot-rolled steel products suppliers to Vietnam were India, Japan and China, together accounting for 57% of total imports. South Korea, Taiwan Chinese), Indonesia and Russia lagged somewhat behind, together accounting for a further 38%.
In value terms, Malaysia, Indonesia and Thailand constituted the largest markets for hot-rolled steel products exported from Vietnam worldwide, with a combined 68% share of total exports. Cambodia, Italy, South Korea and China lagged somewhat behind, together comprising a further 29%.
In 2021, the average hot-rolled steel products export price amounted to $542 per ton, increasing by 4.7% against the previous year.
In 2021, the average hot-rolled steel products import price amounted to $601 per ton, picking up by 3.9% against the previous year.

This report provides an in-depth analysis of the hot-rolled steel products market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
  • Prodcom 24103130 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, not in coils, simply hot-rolled, not clad, plated or coated, w ith patterns in relief directly due to the rolling process and products of a thickness < 4,75 mm, without patterns in relief
  • Prodcom 24103150 - Flat-rolled products, of iron or non-alloy steel, of a width . .600 mm (excluding
  • Prodcom 24103210 - Flat-rolled products of iron or non-alloy steel, simply hot-rolled on four faces or in a closed box pass, not clad, plated or coated, of a width of > .150 mm but < .600 mm and a thickness of . 4 mm, not in coils, without patterns in relief, commonly
  • Prodcom 24103230 - Flat-rolled products of iron or non-alloy steel, of a width < .600 mm, simply hot-rolled, not clad, plated or coated (excluding
  • Prodcom 24103330 - Plates and sheets produced by cutting from hot-rolled wide strip of a width of .600 mm or more, of stainless steel
  • Prodcom 24103340 - Plates and sheets produced on a reversing mill (quarto) of a width of .600 mm or more and wide flats, of stainless steel
  • Prodcom 241033Z0 - Hot-rolled flat products in coil of a width . .600 mm, of stainless steel
  • Prodcom 241034Z0 - Hot-rolled flat products in coil of a width < .600 mm, of stainless steel
  • Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
  • Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
  • Prodcom 24103530 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, not in coils (excluding organic coated products, p roducts of a thickness < 4,75 mm and products of high-
  • Prodcom 24103540 - Flat-rolled products of alloy steel other than stainless, of a width . .600 mm, not further worked than hot-rolled, not in coils, of a thickness of < 4,75 mm (excluding products of tool steel, high-speed steel or silicon-electrical steel)
  • Prodcom 24103600 - Flat-rolled products of alloy steel other than stainless, of a width of < .600 mm, not further worked than hot-rolled (excluding products of high-speed steel or silicon-electrical steel)

Country coverage:

  • Vietnam

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Vietnam
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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