Steel fabrication is the process of transforming raw steel into specific structures or components through techniques like cutting, bending, and assembling, tailored for industries such as construction, automotive, and aerospace. This versatile and durable steel manufacturing process is essential for creating customized products that meet precise needs.
Vietnam Steel Fabrication Market Analysis 2024
According to the Vietnam Steel Association (VSA), in the first eight months of 2024, crude steel production reached 1.79 million tons, down 7% compared to the previous month but up 1.5% compared to August 2023. Crude steel consumption was 1.8 million tons, remaining flat compared to the previous month but increasing by 16% year-on-year. Crude steel exports in July were 244,388 tons, up 19.5% from July and 35% from August 2023.
For the first eight months of 2024, crude steel production totaled 14.6 million tons, an increase of 18% compared to the same period in 2023. Consumption reached 14.2 million tons, up 17% year-on-year, with exports at 1.8 million tons, marking a sharp increase of 43% over the same period in 2023.
This rapid growth presents a favorable opportunity for global investors to choose Vietnam for their steel production needs in the near future.
Finished Steel
In August, finished steel fabrication reached 2.53 million tons, up 0.2% from July and 28% compared to August 2023. Sales of finished steel totaled 2.52 million tons, an increase of 2.3% compared to the previous month and 17.1% compared to the same period in 2023.
Exports of finished steel in August reached 789,208 tons, a 90% year-on-year increase.
Over the first eight months of 2024, finished steel production reached nearly 19.5 million tons, up 9.5% compared to the same period in 2023. Consumption totaled 19.2 million tons, up 15% year-on-year, with exports at 5.6 million tons, an increase of 7.1% compared to the same period in 2023.
Construction Steel
In August, construction steel production exceeded 1 million tons, an increase of 1.7% from the previous month and 4% compared to August 2023. Sales reached 981,624 tons, a 1.4% rise compared to the previous month but a 16% decline year-on-year.
Exports of construction steel in August were 198,161 tons, a 48% increase compared to July and a 12% rise compared to August 2023. For the first eight months of 2024, construction steel production totaled 7.8 million tons, a 14% increase year-on-year. Sales of construction steel reached 7.77 million tons, a 15% increase, with exports showing significant growth of 20.5%, reaching over 1.1 million tons.
According to industry experts, demand for steel fabrication in Vietnam’s construction sector is projected to grow by over 10% in the coming years. This growth is driven by national development policies, infrastructure projects, and rising demand for housing, office spaces, commercial centers, and industrial zones.
Vietnam Steel Fabrication Companies
- Zamil Steel Buildings Vietnam Company Limited.
- ATAD Steel Structure Corporation
- Newinds Corporation Vietnam
- PEB Steel
- Triviet Steel Smart Solutions
- BMB Steel
Choose Newinds – A reliable steel manufacturing solution
Whether you’re in the construction, transportation, or energy sector, Newinds is your trusted partner for all steel fabrication needs. With years of expertise, we offer customized solutions designed to meet the unique demands of each industry we serve.
Innovative techniques
At Newinds, we combine traditional craftsmanship with innovative techniques to deliver top-notch steel fabrication solutions. Our facilities are equipped with advanced machinery that enables us to handle projects of any scale and complexity.
Quality materials
We source our materials from reputable suppliers, ensuring that every piece of steel we provide is of AS/NZS, US, and EU standards. This dedication to quality is what makes our steel structures strong, durable, and reliable.
Skilled workforce
Our team of skilled fabricators is the backbone of our operation. With years of experience and a passion for steelwork, they bring precision and attention to detail to every task. This enables us to produce high-quality steel products that meet standards and fulfill your needs.
Partner with Newinds for premium steel fabrication
Are you searching and wondering if there is a reliable steel fabricator near me? Don’t worry, we are always ready to provide steel fabrication services in every field and of any scale.
- Custom Solutions: We understand that each project is unique. That’s why we offer custom stainless steel fabrication services tailored to the specific needs of our clients.
- End-to-End Service: From design and fabrication to finishing and delivery, we provide a complete service that covers all aspects of steel production.
- Sustainability Focus: We are committed to sustainable practices, ensuring that our manufacturing processes are environmentally friendly and energy-efficient.
Contact us today to discuss how we can contribute to the success of your next project with our steel fabrication expertise.
If you are looking for a reliable steel fabricator, delivered with expert consultation and industry knowledge, we welcome the opportunity to discuss your needs.
Contact Newinds today to discuss your requirements
Email: sales@newindscorp.com
Phone/Whatsapp: +84 868 482 038