Vietnam: Non-Alloy Steel I-Sections Market 2024

Non-Alloy Steel I-Sections Market Size in Vietnam

In 2021, the Vietnamese non-alloy steel i-sections market decreased by -82.4% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Non-Alloy Steel I-Sections Exports

Exports from Vietnam

In 2021, overseas shipments of i-sections of non-alloy steel decreased by -35.9% to X tons, falling for the second consecutive year after four years of growth. In general, exports recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, non-alloy steel i-sections exports declined remarkably to $X in 2021. Overall, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 107%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for non-alloy steel i-sections exports from Vietnam, with a 72% share of total exports. Moreover, non-alloy steel i-sections exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Mexico (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (0.0% per year) and Cambodia (-23.0% per year).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for i-sections of non-alloy steel exports from Vietnam, comprising 72% of total exports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic totaled +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (0.0% per year) and Cambodia (-22.2% per year).

Export Prices by Country

In 2021, the average non-alloy steel i-sections export price amounted to $X per ton, surging by 15% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Cambodia ($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 (+1.1%).

Non-Alloy Steel I-Sections Imports

Imports into Vietnam

In 2021, after three years of growth, there was significant decline in overseas purchases of i-sections of non-alloy steel, when their volume decreased by -73.1% to X tons. In general, imports showed a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 59% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, non-alloy steel i-sections imports declined rapidly to $X in 2021. Over the period under review, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 63% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United Arab Emirates (X tons) were the main suppliers of non-alloy steel i-sections imports to Vietnam, together comprising 86% of total imports. South Korea, Luxembourg, Germany, Taiwan (Chinese), Thailand and Turkey lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +44.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel i-sections suppliers to Vietnam were China ($X), Japan ($X) and the United Arab Emirates ($X), with a combined 86% share of total imports. South Korea, Luxembourg, Germany, Taiwan (Chinese), Thailand and Turkey lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, Luxembourg, with a CAGR of +39.8%, recorded 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 i-sections import price stood at $X per ton in 2021, surging by 23% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Japan ($X per ton), while the price for Luxembourg ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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