Steel is an alloy of carbon and iron with a
small percentage of other metals for instance nickel, chromium, cobalt,
molybdenum, aluminum, tungsten etc. It is a hard ductile & malleable solid.
There are several different types of steel categorized on the basis of the type
of metal used and the percentage content of the metal in the specific type of
steel. Some commonly used types of steels are stainless steel, high carbon
steel, mild carbon steel and medium carbon steel. Stainless steel is the most
resistant and generally used steel of all the types. It contains 11 percent
chromium and some amount of nickel. High carbon steel is basically composed of
carbon and iron with a more percentage of carbon in it than the iron. Mild
steel is composed of iron and carbon but it has a very low percentage of
carbon. Medium carbon steel has a normal percentage of carbon that means that
they are not as strong as the mild carbon steel and neither are they as hard
the high carbon steel.
The key advantages are included repetitive
use, speed of erection, ease of repair, expanding existing structures, quality
of construction and adaptation of prefabrication etc. Apart from this, few of
the limitations are subjected to bulking, corrosion and expensive fireproof
treatment.
According to study, “Vietnam
Steel Comprehensive Report Q4/2019” the key companies operating in the
Vietnam steel industry are Hoa Phat Joint Stock Company, Italy Steel Joint
Stock Company, Hoa Sen Group, DANA Iron and Steel Joint Stock Company, Thai
Nguyen Iron And Steel JSC, Nam Kim Steel Joint Stock Company, Pomina Steel
Corporation, SMC Steel Company Limited, Hoa Sen Group, Tienlen Corporation,
Vietnam Germany Steel Pipe JSC, Thien Nam Trading Import Export JSC, Dai Thien
Loc Corporation (DTL).
Based on type, Vietnam steel industry is
segmented into long steel and flat steel. Flat steel products include slabs,
cold-rolled coils, hot-rolled coils, tinplate, coated steel, and heavy plate.
The flat steel segment is anticipated to witness higher growth rate owing to
rise in use in numerous applications including construction, heavy machinery,
tubes, pipes, appliances, and packaging during the forecast period. Based on
product, market is segmented into structural steel, bright steel, iron steel
wire, welding wire/rod, ropes, braids, pre-stressing steel, and others. The
structural steel segment dominates the market due to rise in use of structural
steel in construction applications primarily in building frames of buildings
and bridges. In addition, based on application, market is segmented into
building & construction, metal products, electrical appliances, domestic
appliances, welding wire/rod, domestic appliances, metal products, mechanical
equipment, automotive and others. The building & construction sector is
anticipated to exhibit substantial growth rate as a result of growth in
residential construction activities during the forecast period.
The Vietnam steel industry is driven by
increase in infrastructural activities both in the residential and commercial
construction followed by rise in industrialization & surge in
infrastructure investment in emerging cities, growth in urban population and
growth in adoption of steel in the electrical appliances, automotive, and other
end-use industries. However, volatile price of raw materials may impact the
market. Moreover, relaxed credit policy in country and high recyclability of
steel scrap are key opportunities for market. Furthermore, eliminate the excess
capacity is a major trend for market.
In Q4/2019, Vietnam steel industry was
grown-up owing to increase in investment by many enterprises. In upcoming
years, it is predicted that future of the market will be bright on account of
rise in new construction projects and better disbursement situation during the
forecast period.
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