Email: doquangdatktvt@gmail.com
Email: doquangdatktvt@gmail.com
According to the World Steel Association, Vietnam is currently the 17th ranked country by total metal production. It is one of the world’s fastest increasing – the output increased by nearly 40% between 2017 and 2018 when it hit a record high of 14.1M tons of metal produced in the country.
In recent decades, Vietnam’s metal production was nationalized when privatization took a swing, and many big players arose.
The top steel manufacturers in Vietnam generate billions of dollars of annual revenue. There are thousands of small metal processing factories scattered worldwide (which we have access to at Cosmo Sourcing).
The vast majority of the metal manufacturing industry in Vietnam is concentrated in Hanoi and HCMC (the capital city area). Based on the latest data, Vietnam’s metal processing economy grows at an average of 10% per year. With the industry growth, it means that now is the best time to get involved in the metal manufacturing industry and start producing your metal in Vietnam.
VN Steel (national company)
Vietnam’s steel production capabilities are exploding, which is still an untapped market on a per-capita basis. For instance, the domestic steel consumption per capita is not as developed in Vietnam as in other countries. The low per capita steel consumption is because Vietnam has a huge population. In the wealthiest nation in the region, such as Singapore, the average consumption of metal per capita is 500 kg. In Vietnam, this number is only 240 kg per capita.
This output means that metal consumption in the country remains low compared to the total output potential. Effectively, it is the best time to get involved in the industry with its massive potential. The total finished steel product output of the country exceeds 25M tons per year, and it’s estimated at $6B/year. Vietnamese steel is exported in 100 countries the world over. Its largest trading partners are the ASEAN countries (Philippines, Indonesia, Malaysia, Cambodia) and the US.
The main export in the galvanized steel industry is galvanized steel sheets. According to the latest stats, Hoa Sen Group, the largest metal manufacturer in Vietnam, controls nearly 30% of its total galvanized steel sheet economy. Hoa Sen Group dominates the metal manufacturing industry as the undisputed leader since its inception in 2001. Vietnamese billionaire entrepreneur Le Phuoc Vu manages Hoa Sen Group. Their main export products are cold-rolled sheets, color coating products, and galvanized products.
Hoa Sen delivers tens of thousands of galvanized sheets to its international trading partners in the EU and the US. Hoa Sen Group has the most technologically-advanced factories in Vietnam with world-class production capability.
For instance, they recently expanded by purchasing technology from Germany’s engineering giant SMS Group. They also made large purchases for galvanizing technology from the Danieli Group in Italy. With these maneuvers, the largest metal manufacturers in Vietnam are weaning off using outdated Chinese technology and moving towards modernizing their production.
Vietnam’s largest companies exported so much galvanized steel to the US that President Trump had to extend the US Steel Tariff (originated meant for China) to Vietnam. This tariff also covered galvanized sheet products, which are a major export from Vietnam.
The main competitor of Hoa Sen Group is Hoa Phat Group, which also has world-class metal production capabilities and has invested in modernizing its steel sheet production facilities. The largest players in galvanized steel are currently doubling their exports and exporting more to the international market.
Aluminum extrusions in Vietnam
Stainless steel in Vietnam
Iron in Vietnam
mild steel in Vietnam
stamped metals in Vietnam
wire in Vietnam
Cable manufacturers in Vietnam
Brass in Vietnam
Copper Sheets in Vietnam
Powder coating in Vietnam
Metal Joints and Joinery in Vietnam
Metal Pipes in Vietnam
Copper Pipes in Vietnam
Pipe Fittings in Vietnam
Anchors and Fasteners in Vietnam
Sheet metal in Vietnam
Sheet metal processing in Vietnam
Zinc in Vietnam
Zinc Alloy sheets in Vietnam
Stainless Steel Wire in Vietnam
If you want to get more information about VietNam steel for sale, welcome to contact us.
