Hot-rolled coils generally include medium-thick wide steel strip, hot-rolled thin wide steel strip, and hot-rolled sheet. Medium-thick wide steel strip refers to steel strip with a thickness ≥3 mm and less than 20 mm, and a width ≥600 mm, produced using continuous wide strip mills or Steckel mills and delivered in coils. Hot-rolled thin wide steel strip refers to steel strip with a thickness less than 3 mm and a width ≥600 mm. Hot-rolled sheet refers to single sheets of steel with a thickness less than 3 mm.
The hot-rolled coil industry boasts a comprehensive industrial chain, encompassing upstream raw material supply, midstream steel smelting and processing, and downstream end-use applications. According to the publisher's analysis, the upstream mainly includes raw material supply links such as iron ore, coal, coke, scrap steel, and alloy materials. Iron ore is a fundamental raw material for steel production, while coke is a key energy carrier for blast furnace ironmaking. The midstream sector encompasses the production and manufacturing of hot-rolled coil, encompassing processes such as ironmaking, steelmaking, continuous casting, and hot rolling. Downstream applications are extensive and are a key driver of growing demand for hot-rolled coil, primarily in the construction, automotive, and machinery manufacturing industries.
Global demand for hot-rolled coil is generally showing steady growth, driven by a variety of macroeconomic factors and the development of downstream industries. According to the publisher's analysis, global demand for hot-rolled coil is primarily driven by traditional heavy industries such as construction, machinery manufacturing, automotive, shipbuilding, energy, and pipes. With the global economic recovery and continued increase in infrastructure investment, especially in developing regions such as Asia, Africa, and Latin America, demand for hot-rolled coil continues to grow.
In recent years, demand for hot-rolled coil in Vietnam has continued to grow. According to the publisher's analysis, Vietnam has been vigorously promoting infrastructure development in recent years, including major projects such as roads, railways, airports, ports, and industrial parks, which has driven strong demand for construction steel and structural components. Furthermore, with the shift in the global manufacturing supply chain, Vietnam is becoming a major manufacturing base, attracting a large number of investments and factories in industries such as home appliances, machinery, electromechanical equipment, and automotive parts. This has directly driven demand for hot-rolled coil in Vietnam.
According to the publisher's analysis, Vietnam's hot-rolled coil market currently faces a significant supply-demand gap and heavy import dependence. Vietnam's hot-rolled coil production capacity has long been insufficient, with the gap expected to exceed 5 million tons in 2024, resulting in a heavy reliance on imports. The Vietnamese hot-rolled coil market is primarily dominated by two domestic steel mills, Hòa Phát and Formosa Hà Tĩnh. However, these two companies allocate some of their production capacity for export, exacerbating market tensions. This structural gap has made imports the primary supplementary channel, spurring investment in hot-rolled coil processing and downstream further processing projects, creating a "reverse-force" demand growth effect.
According to the publisher's data, the import value of Vietnam’s hot-rolled coil (non-alloy steel) exceeded US$10 billion in 2024 and reached US$10.586 billion. According to the publisher's analysis, Vietnam's main import sources of hot-rolled coil include China, Japan, South Korea, etc. China is the largest import source, accounting for more than 45% of the total import share.
The publisher predicts that, in the long term, with increasing foreign investment in industries such as steel, machinery, and automobiles, Vietnam's demand for hot-rolled coil will continue to have significant growth potential. The publisher recommends that global hot-rolled coil manufacturers, importers, exporters, and investors promptly research the Vietnamese market and prepare for expansion into the market. The offices in Shanghai, China, and Hanoi, Vietnam, will assist foreign companies in entering the Vietnamese hot-rolled coil market.
Topics covered:
- Overview of the Hot Rolled Coils Industry in Vietnam
- The Economic and Policy Environment of Hot Rolled Coils Industry in Vietnam
- The Market Size of Hot Rolled Coils Industry in Vietnam (2025-2034)
- Analysis of Major Hot Rolled Coils Industry Manufacturers in Vietnam
- Main Driving Forces and Market Opportunities of Hot Rolled Coils Industry in Vietnam
- What are the main driving forces, challenges and opportunities of Hot Rolled Coils industry in Vietnam during the forecast period of 2025-2034?
- Which companies are the main players in Vietnam's Hot Rolled Coils industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam's Hot Rolled Coils industry market during the forecast period of 2025-2034?
- Which part of Vietnam's Hot Rolled Coils industry market is expected to dominate the market in 2034?
- What are the main disadvantages facing Vietnam's Hot Rolled Coils industry?
- How can foreign capital enter Vietnam's Hot Rolled Coils industry?
Table of Contents
Companies Mentioned
- Hoa Phat Group
- Formosa Ha Tinh Steel Corporation
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
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The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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