Vietnam Aluminium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Vietnam Aluminium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Vietnam aluminum market has been estimated to register a CAGR of over 7%, over the forecast period 2019 - 2024. The market is majorly driven by factors like growth of the construction industry and growing demand from the packaging sector.

Key Highlights

• The depreciating revenues from Bauxite-Alumina projects are acting as restraints to market growth.
• The development of the vietnam automotive industry is likely to act as an opportunity through the forecast period.

Key Market TrendsConstruction Industry to Drive the Market

• The Vietnamese construction sector is expected to have a positive output during the forecast period, with growth supported by regulatory reforms, high-value transport and energy products, and favorable economic conditions.
• The country has plans for robust project pipelines, predominantly in the power and transport sector, to counter the logistics shortages. The government intends to seek foreign investments and private expertise, to cater to the technical requirements of these projects.
• Due to its high strength-to-weight ratio, aluminum is extensively used in construction activities. This property enables buildings to bear the weight of heavy materials, such as glass, concrete, and composites. Therefore, aluminum is widely used in the construction of modern-day houses, buildings, office spaces, bridges, airports, train terminals, etc. In 2018, the Vietnam government approved a new USD 921 million investment plan to boost the performance of its industrial parks from 2018 to 2020.
• According to Dezan Shira & Associates, Vietnam is expected to meet 83% of its infrastructure needs by 2040, if it maintains its current investment trend. The country will require USD 605 billion for all infrastructure projects across all sectors, while according to current trends the investments are expected to reach USD 503 billion;, which is an investment gap of USD 102 billion.
• Moreover, ongoing regulatory reforms are intended to privatize and break up state-owned enterprises and encourage private-sector participation in the infrastructure sector, for the continuous and ongoing urbanization process.
• Therefore, as there is a continuous growth in the construction industry, a positive scope for the aluminum market is expected over the forecast period.

Aluminum Profiles Expected to Dominate the Market

• Aluminum profiles provide an efficient and reliable solution for the construction purpose. They are manufactured from aluminum ingot or billet. These are used in the construction of industrial and commercial buildings, residential houses, power plants, public and sports complexes, etc.
• These aluminum profiles are used as roof cladding, external walls, wall cladding, etc. They help in giving the building an advantage in thermal performance, building appearance, and acoustics.
• As the aluminium possesses a unique combination of properties, which makes it extremely attractive and versatile construction material with universal application. Aluminium is the material that gives almost unlimited possibility to design different forms of profiles, such as L-profiles, flat bar profiles, round, rectangular and square tubes, T-profiles, and U-profiles. The modern equipment permits to produce high-tech custom profiles, precisely matching the drawings.
• Maximum dimensions of profiles vary depending on the aluminum alloy, wall thickness, and complexity of profile and tolerances.
• These aluminium profiles are used in various applications, thus providing a vast market scope for aluminum profiles, which increases the potential of the aluminum market during the forecast period.

Competitive Landscape

The Vietnam aluminium market is fragmented in nature. The major companies include Showa Denko K.K., Dynacast, Norsk Hydro ASA, GARMCO, and Saigon International Co. Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

GARMCO
AWEC Aluminium Products, s.r.o
Showa Denko K.K.
Showa Leadfu Co. Ltd
Global Vietnam Aluminium Co. Ltd (RUBY)
Dynacast
Tsukuba Diecasting Co. Ltd
Saigon International Co. Ltd
Norsk Hydro ASA

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.