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.

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 – 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.

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

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