Vietnam: Non-Alloy Steel H-Sections Market 2025

Non-Alloy Steel H-Sections Market Size in Vietnam

In 2022, the Vietnamese non-alloy steel h-sections market increased by 12% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a abrupt descent. Non-alloy steel h-sections consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Alloy Steel H-Sections Production in Vietnam

In value terms, non-alloy steel h-sections production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 16%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Alloy Steel H-Sections Exports

Exports from Vietnam

In 2022, after eight years of growth, there was significant decline in overseas shipments of h-sections of of non-alloy steel, when their volume decreased by -15.3% to X tons. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 350%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank notably in the following year.

In value terms, non-alloy steel h-sections exports reduced sharply to $X in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 218% against the previous year. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

South Korea (X tons) was the main destination for non-alloy steel h-sections exports from Vietnam, accounting for a 85% share of total exports. Moreover, non-alloy steel h-sections exports to South Korea exceeded the volume sent to the second major destination, Cambodia (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to South Korea amounted to +59.5%.

In value terms, South Korea ($X) remains the key foreign market for h-sections of of non-alloy steel exports from Vietnam, comprising 85% of total exports. The second position in the ranking was held by Cambodia ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to South Korea totaled +77.5%.

Export Prices by Country

In 2022, the average non-alloy steel h-sections export price amounted to $X per ton, shrinking by -1.5% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel h-sections export price increased by +68.8% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 15% against the previous year. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to South Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+11.3%).

Non-Alloy Steel H-Sections Imports

Imports into Vietnam

In 2022, supplies from abroad of h-sections of of non-alloy steel was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a mild increase. The pace of growth was the most pronounced in 2019 with an increase of 257%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, non-alloy steel h-sections imports dropped to $X in 2022. Overall, imports showed a moderate increase. The most prominent rate of growth was recorded in 2019 when imports increased by 231% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of non-alloy steel h-sections to Vietnam, with a 40% share of total imports. Moreover, non-alloy steel h-sections imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +196.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+13.8% per year) and China (-0.3% per year).

In value terms, the largest non-alloy steel h-sections suppliers to Vietnam were Malaysia ($X), Thailand ($X) and China ($X), together accounting for 68% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +141.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-alloy steel h-sections import price stood at $X per ton in 2022, which is down by -20.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 57%. As a result, import price attained the peak level of $X per ton, and then dropped markedly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($X per ton) and Japan ($X per ton), while the price for Malaysia ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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