Vietnam Heat Treated Steel Plates Market Size Share Growth Drivers Trends Opportunities & Forecast 2025–2030

The Vietnam Heat Treated Steel Plates market, valued at USD 150 million, is expanding due to rapid urbanization, infrastructure projects, and key sectors like construction and automotive.

Region:Asia

Author(s):Geetanshi

Product Code:KRAE4686

Pages:83

Published On:December 2025

About the Report

Base Year 2024

Vietnam Heat Treated Steel Plates Market Overview

  • The Vietnam Heat Treated Steel Plates market is valued at USD 150 million, based on a five-year historical analysis. This growth is primarily driven by the increasing demand from various sectors such as construction, automotive, and shipbuilding, alongside the rapid industrialization and urbanization in the country. The rising investments in infrastructure projects, renewable energy initiatives, and shipbuilding activities have significantly contributed to the market's expansion.
  • Key cities such as Ho Chi Minh City, Hanoi, and Da Nang dominate the market due to their robust industrial bases and strategic locations. Ho Chi Minh City, being the economic hub, attracts significant investments in manufacturing and construction, while Hanoi serves as the political center, facilitating government projects that require heat-treated steel plates.
  • The Circular No. 09/2021/TT-BXD, 2021 issued by the Ministry of Construction mandates quality standards for steel products used in construction, requiring compliance with TCVN 1651-1:2018 for hot-rolled steel plates including heat-treated variants, with minimum yield strength thresholds of 235 MPa and certification for structural applications. This regulation ensures material traceability, testing protocols, and adherence to international equivalents, thereby boosting the demand for heat-treated steel plates in the market.
Vietnam Heat Treated Steel Plates Market Size Share Growth Drivers Trends Opportunities & Forecast 2025–2030 Size

Vietnam Heat Treated Steel Plates Market Segmentation

By Type:The market is segmented into various types of heat-treated steel plates, including Carbon Steel Plates, Alloy Steel Plates, Stainless Steel Plates, Tool Steel Plates, and Others. Among these, Carbon Steel Plates are the most widely used due to their versatility and cost-effectiveness, making them a preferred choice in construction and manufacturing sectors. Alloy Steel Plates are also gaining traction due to their enhanced properties, which are essential for high-stress applications in heavy machinery and renewable energy structures.

Vietnam Heat Treated Steel Plates Market segmentation by Type.

By End-User:The end-user segmentation includes Construction, Automotive, Shipbuilding, Machinery Manufacturing, and Others. The construction sector is the leading end-user, driven by ongoing infrastructure projects and urban development. The automotive industry also plays a significant role, as heat-treated steel plates are essential for manufacturing durable vehicle components. Shipbuilding is another critical sector, particularly in coastal regions where demand for marine vessels is high, alongside growing energy and power applications in offshore wind and heavy machinery.

Vietnam Heat Treated Steel Plates Market segmentation by End-User.

Vietnam Heat Treated Steel Plates Market Competitive Landscape

The Vietnam Heat Treated Steel Plates Market is characterized by a dynamic mix of regional and international players. Leading participants such as Hoa Phat Group, Formosa Ha Tinh Steel Corporation, Vietnam Steel Corporation, POSCO Vietnam, Thang Long Steel, Nam Kim Steel, Tisco Steel, Dai Duong Steel, VNSteel, Southern Steel Corporation, Hoa Sen Group, SMC Investment Trading Company, Viet Han Steel, An Phat Holdings, Tien Len Steel contribute to innovation, geographic expansion, and service delivery in this space.

Hoa Phat Group

1992

Hai Duong, Vietnam

Formosa Ha Tinh Steel Corporation

2013

Ha Tinh, Vietnam

Vietnam Steel Corporation

2005

Hanoi, Vietnam

POSCO Vietnam

2006

Pohang, South Korea

Thang Long Steel

2007

Quang Ngai, Vietnam

Company

Establishment Year

Headquarters

Group Size (Large, Medium, or Small as per industry convention)

Revenue Growth Rate

Market Penetration Rate

Customer Retention Rate

Pricing Strategy

Production Capacity Utilization

Vietnam Heat Treated Steel Plates Market Industry Analysis

Growth Drivers

  • Increasing Demand from Construction and Infrastructure Projects:The construction sector in Vietnam is projected to grow significantly, with investments reaching approximately $25 billion in future. This surge is driven by government initiatives to enhance infrastructure, including roads and bridges, which require high-quality heat-treated steel plates. The World Bank estimates that infrastructure development could contribute up to 6% to Vietnam's GDP, further boosting demand for durable steel products.
  • Rising Automotive Industry Requirements:Vietnam's automotive industry is expected to produce over 600,000 vehicles in future, reflecting a 20% increase from the previous year. This growth necessitates the use of high-strength heat-treated steel plates for vehicle manufacturing, enhancing safety and performance. The Vietnam Automobile Manufacturers Association reports that local production is increasingly focusing on quality, driving demand for advanced steel solutions to meet stringent automotive standards.
  • Technological Advancements in Steel Processing:The adoption of advanced steel processing technologies, such as automated heat treatment and precision machining, is transforming the Vietnamese steel industry. In future, investments in these technologies are expected to exceed $200 million, improving production efficiency and product quality. Enhanced processing capabilities allow manufacturers to meet the growing demand for customized heat-treated steel plates, catering to diverse industrial applications and increasing market competitiveness.

Market Challenges

  • Fluctuating Raw Material Prices:The volatility of raw material prices, particularly iron ore and scrap steel, poses a significant challenge for the heat-treated steel plates market. In future, iron ore prices are projected to fluctuate between $120 and $140 per ton, impacting production costs. This unpredictability can lead to reduced profit margins for manufacturers, forcing them to either absorb costs or pass them onto consumers, potentially stifling market growth.
  • Intense Competition from Local and International Players:The Vietnamese heat-treated steel plates market is characterized by intense competition, with over 60 local manufacturers and numerous international entrants. In future, the market is expected to see a 20% increase in new competitors, intensifying price wars and reducing profit margins. This competitive landscape necessitates innovation and differentiation strategies for existing players to maintain market share and profitability.

Vietnam Heat Treated Steel Plates Market Future Outlook

The future of the Vietnam heat-treated steel plates market appears promising, driven by ongoing infrastructure projects and a robust automotive sector. As the government continues to invest in modernization, demand for high-strength steel plates is expected to rise. Additionally, technological advancements will likely enhance production efficiency, allowing manufacturers to offer customized solutions. Sustainability initiatives will also play a crucial role, as companies increasingly adopt eco-friendly practices to meet regulatory requirements and consumer preferences.

Market Opportunities

  • Expansion into Emerging Markets:Vietnamese manufacturers have the opportunity to expand into neighboring Southeast Asian markets, where demand for heat-treated steel plates is growing. With a projected market size of $1.5 billion in future for these regions, companies can leverage competitive pricing and quality to capture new customers, enhancing their market presence and revenue streams.
  • Investment in Sustainable Manufacturing Practices:As global demand for eco-friendly products rises, Vietnamese steel manufacturers can invest in sustainable practices, such as recycling and energy-efficient production methods. This shift not only aligns with international standards but also appeals to environmentally conscious consumers, potentially increasing market share and fostering long-term growth in the heat-treated steel plates sector.

Scope of the Report

SegmentSub-Segments
By Type

Carbon Steel Plates

Alloy Steel Plates

Stainless Steel Plates

Tool Steel Plates

Others

By End-User

Construction

Automotive

Shipbuilding

Machinery Manufacturing

Others

By Application

Structural Applications

Pressure Vessels

Heavy Equipment

Oil & Gas Industry

Others

By Thickness

Thin Plates

Medium Plates

Thick Plates

Others

By Surface Treatment

Hot Rolled

Cold Rolled

Coated

Others

By Distribution Channel

Direct Sales

Distributors

Online Sales

Others

By Region

Northern Vietnam

Southern Vietnam

Central Vietnam

Others

Key Target Audience

Investors and Venture Capitalist Firms

Government and Regulatory Bodies (e.g., Ministry of Industry and Trade, Vietnam Steel Association)

Manufacturers and Producers

Distributors and Retailers

Construction and Infrastructure Companies

Automotive and Aerospace Industries

Industry Associations

Financial Institutions

Players Mentioned in the Report:

Hoa Phat Group

Formosa Ha Tinh Steel Corporation

Vietnam Steel Corporation

POSCO Vietnam

Thang Long Steel

Nam Kim Steel

Tisco Steel

Dai Duong Steel

VNSteel

Southern Steel Corporation

Hoa Sen Group

SMC Investment Trading Company

Viet Han Steel

An Phat Holdings

Tien Len Steel

Table of Contents

Market Assessment Phase

1. Executive Summary and Approach


2. Vietnam Heat Treated Steel Plates Market Overview

2.1 Key Insights and Strategic Recommendations

2.2 Vietnam Heat Treated Steel Plates Market Overview

2.3 Definition and Scope

2.4 Evolution of Market Ecosystem

2.5 Timeline of Key Regulatory Milestones

2.6 Value Chain & Stakeholder Mapping

2.7 Business Cycle Analysis

2.8 Policy & Incentive Landscape


3. Vietnam Heat Treated Steel Plates Market Analysis

3.1 Growth Drivers

3.1.1 Increasing demand from construction and infrastructure projects
3.1.2 Rising automotive industry requirements
3.1.3 Technological advancements in steel processing
3.1.4 Government initiatives promoting industrial growth

3.2 Market Challenges

3.2.1 Fluctuating raw material prices
3.2.2 Intense competition from local and international players
3.2.3 Regulatory compliance and environmental concerns
3.2.4 Limited awareness of heat-treated steel benefits

3.3 Market Opportunities

3.3.1 Expansion into emerging markets
3.3.2 Development of innovative steel products
3.3.3 Strategic partnerships with construction firms
3.3.4 Investment in sustainable manufacturing practices

3.4 Market Trends

3.4.1 Shift towards high-strength steel plates
3.4.2 Increasing automation in steel production
3.4.3 Growing focus on sustainability and eco-friendly practices
3.4.4 Rising demand for customized steel solutions

3.5 Government Regulation

3.5.1 Standards for steel quality and safety
3.5.2 Environmental regulations on emissions
3.5.3 Import tariffs and trade policies
3.5.4 Incentives for local manufacturing

4. SWOT Analysis


5. Stakeholder Analysis


6. Porter's Five Forces Analysis


7. Vietnam Heat Treated Steel Plates Market Size, 2019-2024

7.1 By Value

7.2 By Volume

7.3 By Average Selling Price


8. Vietnam Heat Treated Steel Plates Market Segmentation

8.1 By Type

8.1.1 Carbon Steel Plates
8.1.2 Alloy Steel Plates
8.1.3 Stainless Steel Plates
8.1.4 Tool Steel Plates
8.1.5 Others

8.2 By End-User

8.2.1 Construction
8.2.2 Automotive
8.2.3 Shipbuilding
8.2.4 Machinery Manufacturing
8.2.5 Others

8.3 By Application

8.3.1 Structural Applications
8.3.2 Pressure Vessels
8.3.3 Heavy Equipment
8.3.4 Oil & Gas Industry
8.3.5 Others

8.4 By Thickness

8.4.1 Thin Plates
8.4.2 Medium Plates
8.4.3 Thick Plates
8.4.4 Others

8.5 By Surface Treatment

8.5.1 Hot Rolled
8.5.2 Cold Rolled
8.5.3 Coated
8.5.4 Others

8.6 By Distribution Channel

8.6.1 Direct Sales
8.6.2 Distributors
8.6.3 Online Sales
8.6.4 Others

8.7 By Region

8.7.1 Northern Vietnam
8.7.2 Southern Vietnam
8.7.3 Central Vietnam
8.7.4 Others

9. Vietnam Heat Treated Steel Plates Market Competitive Analysis

9.1 Market Share of Key Players

9.2 Cross Comparison of Key Players

9.2.1 Company Name
9.2.2 Group Size (Large, Medium, or Small as per industry convention)
9.2.3 Revenue Growth Rate
9.2.4 Market Penetration Rate
9.2.5 Customer Retention Rate
9.2.6 Pricing Strategy
9.2.7 Production Capacity Utilization
9.2.8 Product Quality Index
9.2.9 Innovation Rate
9.2.10 Distribution Efficiency

9.3 SWOT Analysis of Top Players

9.4 Pricing Analysis

9.5 Detailed Profile of Major Companies

9.5.1 Hoa Phat Group
9.5.2 Formosa Ha Tinh Steel Corporation
9.5.3 Vietnam Steel Corporation
9.5.4 POSCO Vietnam
9.5.5 Thang Long Steel
9.5.6 Nam Kim Steel
9.5.7 Tisco Steel
9.5.8 Dai Duong Steel
9.5.9 VNSteel
9.5.10 Southern Steel Corporation
9.5.11 Hoa Sen Group
9.5.12 SMC Investment Trading Company
9.5.13 Viet Han Steel
9.5.14 An Phat Holdings
9.5.15 Tien Len Steel

10. Vietnam Heat Treated Steel Plates Market End-User Analysis

10.1 Procurement Behavior of Key Ministries

10.1.1 Ministry of Construction
10.1.2 Ministry of Transport
10.1.3 Ministry of Industry and Trade
10.1.4 Ministry of Defense

10.2 Corporate Spend on Infrastructure & Energy

10.2.1 Investment in Construction Projects
10.2.2 Expenditure on Renewable Energy
10.2.3 Budget Allocation for Industrial Development
10.2.4 Others

10.3 Pain Point Analysis by End-User Category

10.3.1 Construction Sector Challenges
10.3.2 Automotive Industry Needs
10.3.3 Manufacturing Sector Issues
10.3.4 Others

10.4 User Readiness for Adoption

10.4.1 Awareness of Heat Treatment Benefits
10.4.2 Training and Skill Development
10.4.3 Infrastructure for Implementation
10.4.4 Others

10.5 Post-Deployment ROI and Use Case Expansion

10.5.1 Performance Metrics
10.5.2 Long-term Cost Savings
10.5.3 Scalability of Solutions
10.5.4 Others

11. Vietnam Heat Treated Steel Plates Market Future Size, 2025-2030

11.1 By Value

11.2 By Volume

11.3 By Average Selling Price


Go-To-Market Strategy Phase

1. Whitespace Analysis + Business Model Canvas

1.1 Market Gaps Identification

1.2 Business Model Development


2. Marketing and Positioning Recommendations

2.1 Branding Strategies

2.2 Product USPs


3. Distribution Plan

3.1 Urban Retail vs Rural NGO Tie-ups


4. Channel & Pricing Gaps

4.1 Underserved Routes

4.2 Pricing Bands


5. Unmet Demand & Latent Needs

5.1 Category Gaps

5.2 Consumer Segments


6. Customer Relationship

6.1 Loyalty Programs

6.2 After-sales Service


7. Value Proposition

7.1 Sustainability

7.2 Integrated Supply Chains


8. Key Activities

8.1 Regulatory Compliance

8.2 Branding

8.3 Distribution Setup


9. Entry Strategy Evaluation

9.1 Domestic Market Entry Strategy

9.1.1 Product Mix
9.1.2 Pricing Band
9.1.3 Packaging

9.2 Export Entry Strategy

9.2.1 Target Countries
9.2.2 Compliance Roadmap

10. Entry Mode Assessment

10.1 JV

10.2 Greenfield

10.3 M&A

10.4 Distributor Model


11. Capital and Timeline Estimation

11.1 Capital Requirements

11.2 Timelines


12. Control vs Risk Trade-Off

12.1 Ownership vs Partnerships


13. Profitability Outlook

13.1 Breakeven Analysis

13.2 Long-term Sustainability


14. Potential Partner List

14.1 Distributors

14.2 JVs

14.3 Acquisition Targets


15. Execution Roadmap

15.1 Phased Plan for Market Entry

15.1.1 Market Setup
15.1.2 Market Entry
15.1.3 Growth Acceleration
15.1.4 Scale & Stabilize

15.2 Key Activities and Milestones

15.2.1 Activity Planning
15.2.2 Milestone Tracking

Research Methodology

ApproachModellingSample

Phase 1: Approach1

Desk Research

  • Industry reports from Vietnamese steel associations and trade bodies
  • Market analysis from government publications and economic surveys
  • Academic journals and white papers on heat treatment processes and applications

Primary Research

  • Interviews with production managers at steel manufacturing plants
  • Surveys with procurement specialists in construction and manufacturing sectors
  • Field visits to steel processing facilities to observe operations and gather insights

Validation & Triangulation

  • Cross-validation of data from multiple industry sources and expert opinions
  • Triangulation of market trends with historical data and future projections
  • Sanity checks through feedback from industry experts and stakeholders

Phase 2: Market Size Estimation1

Top-down Assessment

  • Analysis of national steel consumption trends and heat-treated steel demand
  • Segmentation by end-user industries such as construction, automotive, and machinery
  • Incorporation of government infrastructure projects and their impact on market growth

Bottom-up Modeling

  • Volume estimates based on production capacities of major steel manufacturers
  • Cost analysis derived from pricing models of heat-treated steel products
  • Estimation of market share based on sales data from key players in the industry

Forecasting & Scenario Analysis

  • Multi-variable regression analysis considering economic growth and industrial demand
  • Scenario planning based on potential regulatory changes and market disruptions
  • Development of baseline, optimistic, and pessimistic forecasts through 2030

Phase 3: CATI Sample Composition1

Scope Item/SegmentSample SizeTarget Respondent Profiles
Construction Sector Demand100Project Managers, Procurement Officers
Automotive Manufacturing Needs80Production Supervisors, Quality Control Managers
Machinery and Equipment Applications70Design Engineers, Operations Managers
Export Market Insights60Export Managers, Trade Analysts
Research and Development Perspectives50R&D Directors, Process Engineers

Frequently Asked Questions

What is the current value of the Vietnam Heat Treated Steel Plates market?

The Vietnam Heat Treated Steel Plates market is valued at approximately USD 150 million, driven by increasing demand from sectors such as construction, automotive, and shipbuilding, alongside rapid industrialization and urbanization in the country.

What are the main drivers of growth in the Vietnam Heat Treated Steel Plates market?

Which cities are the primary markets for heat treated steel plates in Vietnam?

What regulations impact the Vietnam Heat Treated Steel Plates market?

Other Adjacent Reports

Oman Structural Steel Market Size, Share, Growth Trends & Forecast 2025–2030Global Alloy Steel MarketUAE Stainless Steel MarketUS carbon steel market Size, Share, Growth Drivers, Trends, Opportunities & Forecast 2025–2030India Construction Materials Market Outlook to 2030

Singapore Automotive Components Market

Thailand Shipbuilding Materials Market

Philippines Machinery Manufacturing Market

Thailand Renewable Energy Equipment Market

Mexico Infrastructure Development Market

Why Buy From Us?

Refine Robust Result (RRR) Framework
Refine Robust Result (RRR) Framework

What makes us stand out is that our consultants follow Robust, Refine and Result (RRR) methodology. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents' facts and opinions, and Result for presenting data with story.

Our Reach Is Unmatched
Our Reach Is Unmatched

We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.

Shifting the Research Paradigm
Shifting the Research Paradigm

While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.

More Insights-Better Decisions
More Insights-Better Decisions

With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.

Transparency and Trust
Transparency and Trust

Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.

Round the Clock Support
Round the Clock Support

If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.

Why Clients Choose Us?

400000+
Reports in repository
150+
Consulting projects a year
100+
Analysts
8000+
Client Queries in 2022