Vietnam Aluminium Market by Product Type (Flat-Rolled, Castings, Extrusions, Forgings, Powder & Paste, and Other Types), by Type (Primary and Secondary), and by End-User Industry (Transport, Consumer Goods, Machinery & Equipment, Construction, Foil & Packaging, Electrical Engineering, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Materials and Chemical | Publish Date: 01-Oct-2024 | No of Pages: 143 | No. of Tables: 48 | No. of Figures: 33 | Format: PDF | Report Code : MC1362
Vietnam Aluminium Market Overview
The Vietnam Aluminium Market size was valued at USD 4.65 billion in 2023, and is predicted to reach USD 7.49 billion by 2030, at a CAGR of 7.1% from 2024 to 2030. The aluminum industry covers the sector focused on creating, distributing, and applying aluminum, a light and silvery metal.
Aluminum is a major element in the Earth's crust, representing about 8% by weight. Valued for its low density, strength, and resistance to corrosion from a protective oxide layer, aluminum is essential in industries like aerospace, automotive, construction, packaging, and electronics. Its lightweight quality improves performance and efficiency, especially in transportation.
The metal is produced from bauxite ore via the Bayer process and electrolysis. Technological advancements and recycling improvements have enhanced production sustainability, contributing to industry expansion.Rapid Industrialization is Driving Aluminum Market Growth in Vietnam
Vietnam's rapid industrialization significantly boosts the demand for aluminium market. As the country experiences swift industrial development, there is an increased need for aluminum in various sectors such as construction, manufacturing, and transportation.
The expansion of industrial facilities and infrastructure projects requires aluminum for structural components, machinery, and equipment. This surge in industrial activities enhances the demand for aluminum, fueling the Vietnam aluminium market growth.
Growth of Automotive Industry Drives the Demand for Aluminium
The growth of the region's automotive industry is a key driver of the Vietnam aluminium market expansion. As the automotive sector expands, there is an increasing demand for aluminum due to its lightweight and durable properties.
Aluminum is used extensively in vehicle manufacturing for components such as engine parts, body panels, and wheels, which help improve fuel efficiency and performance.
This rising demand in the automotive industry stimulates the overall growth of the aluminum sector in Vietnam, creating opportunities for producers and suppliers in the sector.
Environmental and Regulatory Constraints Hinders the Growth of Aluminium Market
The Vietnam aluminum market growth encounters significant challenges stemming from strict environmental regulations and sustainability requirements. Compliance with emissions control, waste management, and energy efficiency targets often leads to increased operational costs for producers.
Adhering to these rigorous standards demands substantial investments in technologies and processes designed to minimize the environmental impact of aluminum production. Although these measures are essential for promoting a greener industry, they also add complexity and raise production costs, ultimately impacting the efficiency and profitability of aluminum manufacturing.
Sustainable Packaging Creates Ample Future Opportunities
The increasing emphasis on sustainable packaging presents substantial growth opportunities for the aluminum market. Aluminum is highly valued for packaging applications such as cans, bottles, and foils due to its recyclability and effectiveness in preserving product quality and freshness.
As eco-conscious consumers and brands strive to minimize their environmental impact, they are increasingly opting for aluminum as their preferred packaging material. This choice helps reduce waste and supports sustainability goals, contributing to the Vietnam aluminium market growth.
Competitive Landscape
Several market players operating in the Vietnam aluminium industry are Vinacomin, Kobe Steel Ltd, Daiki Aluminium Vietnam (DAVCO), Rhine Precision Alloy (Vietnam) Co., Ltd, Garmco Metals Vietnam Co., Ltd, Global Vietnam Aluminum Co., Ltd, East Asia Aluminum Company Limited, Sapa Ben Thanh Aluminium Profile Company Limited, Song Hong Shalumi Aluminium Group Joint Stock Company, Nam Sung Aluminium Company Limited, and others.
Vietnam Aluminium Market Key Segments
By Product Type
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Flat-Rolled
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Castings
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Extrusions
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Forgings
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Powder & Paste
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Other Types
By Type
-
Primary
-
Secondary
By End-User Industry
-
Transport
-
Consumer Goods
-
Machinery & Equipment
-
Construction
-
Foil & Packaging
-
Electrical Engineering
-
Others
Key Players
-
Vinacomin
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Kobe Steel Ltd
-
Daiki Aluminium Vietnam (DAVCO)
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Rhine Precision Alloy (Vietnam) Co., Ltd
-
Garmco Metals Vietnam Co., Ltd
-
Global Vietnam Aluminum Co., Ltd
-
East Asia Aluminum Company Limited
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Sapa Ben Thanh Aluminium Profile Company Limited
-
Song Hong Shalumi Aluminium Group Joint Stock Company
-
Nam Sung Aluminium Company Limited
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 4.65 Billion |
|
Revenue Forecast in 2030 |
USD 7.85 Billion |
|
Growth Rate |
CAGR of 7.1% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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