Threaded products refer to components with spiral grooves on their surfaces or interiors, such as bolts, nuts, screws, and studs. These products connect, fasten, or transmit power through rotational motion and are characterized by high strength, reliability, and standardization, making them crucial in various mechanical structures and assemblies.
Threaded products are widely used in industries like machinery manufacturing, construction, automotive, aerospace, and electrical appliances.
The upstream sector for threaded products mainly includes the production of steel and other metal materials, which provide the raw materials required for their manufacture. These raw materials are processed into basic components of bolts, nuts, and screws, where their quality directly affects the performance and longevity of threaded products. According to CRI, Vietnam currently has insufficient capacity for producing threaded products and relies heavily on imports.
The downstream sector for threaded products includes fields like mechanical assembly, equipment manufacturing, and construction, where these products are essential for assembling products and building structures. The high strength and reliability of threaded products ensure the quality of final products and engineering projects. The analysis by CRI indicates that Vietnam's downstream sectors for threaded products are rapidly growing, driving the expansion of the market size for these products.
Producing threaded products requires specific machining equipment, such as corresponding moulds, lathes and milling machines, along with strict quality control and testing methods. Globally, major producers and exporters of threaded products include countries like China, Germany, Japan, and the United States.
In Vietnam, demand for threaded products has been rising in line with the country's industrialization process. Although Vietnam's threaded products industry is gradually developing, there are still gaps in technology, production capacity, and quality control compared to other countries. As a result, importing high-quality threaded products is an effective solution to ensure the smooth execution of projects and production while enhancing overall product quality, reliability and cost-effectiveness.
Generally, threaded products are critical components in the manufacture and construction sectors, with a broad market demand and development prospects. According to CRI data, Vietnam's total imports of threaded products exceeded USD 450 million in 2023. With growing market demand, the import value exceeded USD 250 million from January to May 2024 and is expected to continue growing in the coming years.
CRI analyzes that the primary sources of Vietnam's threaded product imports from 2021 to 2024 include China, South Korea, and Japan. Major exporters to Vietnam include companies like Samsung, Công Ty Cổ Phần Seoul Metal Việt Nam, and Cloud Network Technology Singapore Pte. Ltd.
The main importers of threaded products in Vietnam are manufacturers and distributors in the electronics, machinery, and automotive industries, primarily foreign-invested enterprises such as Samsung Electronics Vietnam Co., Ltd., TTI Vietnam Manufacturing, and Goertek Technology Vina Company Limited.
Overall, with Vietnam's growing population, industry development, and progressed urbanization, the demand for threaded products is expected to increase continuously. CRI predicts that Vietnam's threaded product imports will continue to grow in the coming years, playing a significant role in the country's industrial stability and growth.
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