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Vietnam Steel Pipes And Steel Tubes Market

Vietnam Steel Pipes And Steel Tubes Market

Vietnam Steel Pipes and Steel Tubes Market, By Category (Seamless Pipes, Welded Pipes, Galvanized Pipes, ERW (Electric Resistance Welded) Pipes, LSAW (Longitudinal Submerged Arc Welded) Pipes, SSAW (Spiral Submerged Arc Welded) Pipes); By Material Grades (Carbon Steel, Alloy Steel, Stainless Steel, Non-Ferrous Metals (e.g., Copper, Aluminum, Titanium), Duplex & Super Duplex Stainless Steel, Nickel Alloys); By End User (Oil & Gas, Chemicals & Petrochemicals, Automotive & Transportation, Mechanical Engineering, Power Plant, Construction, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: September 2024
  • Report ID: BWC24687
  • Available Format: PDF
  • Page: 130

Report Overview

Rapid urbanization, government’s increasing investments in infrastructure development projects, and a spurring demand from oil & gas and automobile sectors are major factors driving Vietnam Steel Pipes and Steel Tubes Market during the forecast period between 2024 and 2030.

Vietnam Steel Pipes and Steel Tubes Market – Industry Trends & Forecast Report, 2030

Vietnam Steel Pipes and Steel Tubes Market size by value was estimated at USD 2.40 billion in 2023. During the forecast period between 2024 and 2030, Vietnam Steel Pipes and Steel Tubes Market size is expected to expand at a CAGR of 8.19% reaching a value of USD 4.13 billion by 2030. Vietnam Steel Pipes and Steel Tubes Market is driven by rapid urbanization and technological progress, leading to growth in construction and infrastructure. Government investments in infrastructure such as highways and bridges further increase demand. The oil and gas and automotive industries also contribute significantly, requiring the use of steel pipes in a variety of applications. Further, the growth in steel production and the need for high-quality and durable products support the growth of the market.

Vietnam Steel Pipes and Steel Tubes Market

Steel Pipes and Steel Tubes – Overview

Steel pipes and steel tubes are important components in various industries, such as construction, automotive, and energy. They are used to transport fluids and gases, as well as construction materials. Steel pipes are usually circular and designed for high-pressure applications, while steel tubes can be circular, square, or rectangular, and are used for precision and structural purposes. Their high strength, durability, and versatility make them ideal for a wide range of applications.

Vietnam Steel Pipes and Steel Tubes Market

Segmental Information

Rapid Urbanization and Industrialization

Vietnam's rapid urbanization and technological advancements are major factors driving Vietnam Steel Pipes and Steel Tubes Market. Growing construction activity, including residential, commercial, and industrial, is fueling the demand for steel pipes and conduits. Moreover, the expansion of roads, bridges, and infrastructure drives market growth. The government’s focus on developing industrial zones and manufacturing facilities also contributes to the demand for high-quality steel pipes and tubes.

Challenges

Steel Price Fluctuations

Vietnam Steel Pipes and Steel Tubes Market is highly affected by fluctuations in global steel prices. Differences in the cost of raw materials such as steel and coal directly affect production and pricing strategies. These changes can increase costs for manufacturers and create uncertainty in the marketplace. In addition, changes in international trade dynamics and tariffs further complicate prices and supply chains, posing challenges for businesses operating in Vietnam.

Impact of Escalating Geopolitical Tensions on Vietnam Steel Pipes and Steel Tubes Market

Intensifying and further spreading of geopolitical tensions among countries across the major regions could adversely affect Vietnam Steel Pipes and Steel Tubes Market. Trade restrictions and tariffs could disrupt the supply chain, leading to higher production costs and price instability. For example, conflicts such as the Russian-Ukrainian war, have increased raw material prices and export costs. Further, geopolitical instability can hamper foreign investment and slow down infrastructure development, reducing demand for steel products. Companies can also face challenges in shipping their cargo due to stringent regulations and possible restrictions. All of these factors combine to create market instability, making it difficult for businesses to plan and operate effectively.

Vietnam Steel Pipes and Steel Tubes Market

Segmental Information

Vietnam Steel Pipes and Steel Tubes Market – By Category

By category, Vietnam Steel Pipes and Steel Tubes Market is divided into Seamless Pipes, Welded Pipes, Galvanized Pipes, ERW (Electric Resistance Welded) Pipes, LSAW (Longitudinal Submerged Arc Welded) Pipes, and SSAW (Spiral Submerged Arc Welded) Pipes segments. The welded pipes segment holds the largest share of Vietnam Steel Pipes and Steel Tubes Market. The segment’s dominance is due to welded pipes’ widespread use in various industries, including construction, automotive, and infrastructure projects. Welded pipes are more cost-effective compared to seamless pipes and are preferred for applications where high pressure and precision are not critical. The growth of Vietnam's manufacturing and construction sectors further fuels the demand for welded pipes, solidifying its position as the leading segment.

Vietnam Steel Pipes and Steel Tubes Market Size

Vietnam Steel Pipes and Steel Tubes Market – By End User

On the basis of end user, Vietnam Steel Pipes and Steel Tubes Market is divided into Oil & Gas, Chemicals & Petrochemicals, Automotive & Transportation, Mechanical Engineering, Power Plant, Construction, and other segments. The construction segment is the largest end user in Vietnam Steel Pipes and Steel Tubes Market. The segment’s dominance is driven by the country's expanding infrastructure development and urbanization projects. The construction sector's growing demand for steel pipes and tubes, particularly for structural applications, water supply, and drainage systems, has made it a key consumer. Additionally, government initiatives and investments in housing, transportation, and industrial projects have further fueled the growth of the segment in the market.

Vietnam Steel Pipes and Steel Tubes Market Demand

Competitive Landscape

Key players in the highly competitive Vietnam Steel Pipes and Steel Tubes Market include Nova Steel Corporation, Hoa Phat Group, NeonAlloys, Vietnam Nippon Steel Pipe Company Limited, Inox Đại Dương, Hoa Sen Group, and Vietnam Steel Corporation (VSC). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion 

Market Coverage

Vietnam

Product/Service Segmentation

Category, Material Grades, End User

Key Players

Nova Steel Corporation, Hoa Phat Group, NeonAlloys, Vietnam Nippon Steel Pipe Company Limited, Inox Đại Dương, Hoa Sen Group, Vietnam Steel Corporation (VSC)

 

By Category

  • Seamless Pipes

  • Welded Pipes

  • Galvanized Pipes

  • ERW (Electric Resistance Welded) Pipes

  • LSAW (Longitudinal Submerged Arc Welded) Pipes

  • SSAW (Spiral Submerged Arc Welded) Pipes

By Material Grades

  • Carbon Steel

  • Alloy Steel

  • Stainless Steel

  • Non-Ferrous Metals (Copper, Aluminum, Titanium)

  • Duplex & Super Duplex Stainless Steel

  • Nickel Alloys

By End User

  • Oil & Gas

  • Chemicals & Petrochemicals

  • Automotive & Transportation

  • Mechanical Engineering

  • Power Plant

  • Construction

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Vietnam Steel Pipes and Steel Tubes Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1.  Rapid urbanization and industrialization
        2. Growth and expansion of industrial sector
        3. Government Support to promote industrial development and infrastructure investment
      2. Restraints
        1. Global steel price fluctuations
        2. Competition from alternative materials
        3. Increasing environmental concerns
      3. Opportunities
        1. Increasing exports to neighboring countries and other international markets
        2. Investments in research and development
        3. Continuous growth of Vietnam's economy and population
      4. Challenges
        1. Ensuring consistent quality standards
        2. Managing the supply chain, including sourcing raw materials and ensuring timely delivery
        3. Shortage of skilled labors
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Vietnam Steel Pipes and Steel Tubes Market: Marketing Strategies
  5. Vietnam Steel Pipes and Steel Tubes Market: Pricing Analysis
  6. Vietnam Steel Pipes and Steel Tubes Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Category
        1. Seamless Pipes
        2. Welded Pipes
        3. Galvanized Pipes
        4. ERW (Electric Resistance Welded) Pipes
        5. LSAW (Longitudinal Submerged Arc Welded) Pipes
        6. SSAW (Spiral Submerged Arc Welded) Pipes
      2. By Material Grades
        1. Carbon Steel
        2. Alloy Steel
        3. Stainless Steel
        4. Non-Ferrous Metals (e.g., Copper, Aluminum, Titanium)
        5. Duplex & Super Duplex Stainless Steel
        6. Nickel Alloys
      3. By End User
        1. Oil & Gas
        2. Chemicals & Petrochemicals
        3. Automotive & Transportation
        4. Mechanical Engineering
        5. Power Plant
        6. Construction
        7. Others
  7. Competitive Landscape
    1. List of Key Players and Their Products
    2. Vietnam Steel Pipes and Steel Tubes Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership)
  8. Impact of Escalating Geopolitical Tensions on Vietnam Steel Pipes and Steel Tubes Market
  9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
    1. Nova Steel Corporation
    2. Hoa Phat Group
    3. NeonAlloys
    4. Vietnam Nippon Steel Pipe Company Limited
    5. Inox Đại Dương
    6. Hoa Sen Group
    7. Vietnam Steel Corporation (VSC)
    8. Other prominent players
  10. Key Strategic Recommendations
  11. Research Methodology
    1. Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       Vietnam Steel Pipes and Steel Tubes Segmentation

Figure 2       Vietnam Steel Pipes and Steel Tubes Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Vietnam Steel Pipes and Steel Tubes Market Size, By Value (USD Million), 2019–2030

Figure 5       Vietnam Steel Pipes and Steel Tubes Market Share, By Category, By Value (USD Million), 2019–2030

Figure 6       Vietnam Steel Pipes and Steel Tubes Market Share, By Material Grades, By Value (USD Million), 2019–2030

Figure 7       Vietnam Steel Pipes and Steel Tubes Market Share, By End User, By Value (USD Million), 2019–2030

 

List of Tables      

 

Table 1        Vietnam Steel Pipes and Steel Tubes Market Size, By Value (USD Million), 2019–2030

Table 2        Vietnam Steel Pipes and Steel Tubes Market Share, By Category, By Value (USD Million), 2019–2030

Table 3        Vietnam Steel Pipes and Steel Tubes Market Share, By Material Grades, By Value (USD Million), 2019–2030

Table 4        Vietnam Steel Pipes and Steel Tubes Market Share, By End User, By Value (USD Million), 2019–2030

Table 5        Nova Steel Corporation Company Overview

Table 6        Nova Steel Corporation Financial Overview

Table 7        Hoa Phat Group Company Overview

Table 8        Hoa Phat Group Financial Overview

Table 9        NeonAlloys Company Overview

Table 10      NeonAlloys Financial Overview

Table 11      Vietnam Nippon Steel Pipe Company Limited Company Overview

Table 12      Vietnam Nippon Steel Pipe Company Limited Financial Overview

Table 13      Inox Đại Dương Company Overview

Table 14      Inox Đại Dương Financial Overview

Table 15      Hoa Sen Group Company Overview

Table 16      Hoa Sen Group Financial Overview

Table 17      Vietnam Steel Corporation (VSC) Company Overview

Table 18      Vietnam Steel Corporation (VSC) Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Vietnam Steel Pipes and Steel Tubes Market size by value was estimated at USD 2.40 billion in 2023.
Ans: Vietnam Steel Pipes and Steel Tubes Market by value is expected to grow at a CAGR of 8.19% during the forecast period between 2024 and 2030.
Ans: Vietnam Steel Pipes and Steel Tubes Market size is forecast to reach a value of USD 4.13 billion by 2030.
Ans: The growth of Vietnam Steel Pipes and Steel Tubes Market is primarily driven by rapid urbanization, government infrastructure investment, industrial growth, and demand from the oil and gas and automobile sectors.
Ans: Key players in Vietnam Steel Pipes and Steel Tubes Market include Nova Steel Corporation, Hoa Phat Group, NeonAlloys, Vietnam Nippon Steel Pipe Company Limited, Inox Đại Dương, Hoa Sen Group, and Vietnam Steel Corporation (VSC).
Ans: Construction is the leading end user segment in Vietnam Steel Pipes and Steel Tubes Market.
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