Vietnam is forecast to continue to maintain the strong growth momentum of the steel industry in 2026, with crude steel output increasing by 8-10% compared to the previous year. The recovery of the construction market, the expansion of industrial production and measures to protect the domestic market are creating a solid foundation for the steel industry to enter a new stage of growth.
According to information from the Vietnam Steel Association (VSA), the output of finished steel products in 2026 is expected to reach from 33 to 34.5 million tons, while the total demand for steel is estimated at 26 million tons. This is a positive signal that the steel industry is continuing to benefit from the synchronous development of the economy and steel-using industries.
2025 is considered a pivotal year marking a clear recovery of Vietnam’s steel industry. The country’s GDP growth reached 8%, of which the industrial and construction sectors increased by 8.6%, contributing to boosting steel demand in the market. Besides the construction sector, the machinery, automobile, and shipbuilding industries also recorded significant expansion, creating an additional impetus for domestic steel consumption.
2025 is considered a pivotal year marking a clear recovery of Vietnam’s steel industry
Data from VSA shows that Vietnam’s crude steel output in the first quarter of 2026 will reach 7.2 million tons, up 23% over the same period last year. In 2025, total crude steel production will reach 24.7 million tons, up 12%, helping Vietnam continue to maintain its position as the world’s 11th largest steel producer. At the same time, finished steel output in 2025 will reach 32.7 million tons, up 6.3%, with a total consumption of about 28 million tons.
Notably, trade remedies are becoming an important tool to protect the domestic manufacturing industry against competitive pressure from imported steel. Vietnam has initiated 13 investigations into trade remedies in the steel industry, including 8 cases related to products imported from China. These moves are expected to contribute to creating a fairer competitive environment for domestic businesses.
In the context of economic growth forecasted to reach about 10% in 2026, along with the expansion of downstream industries and increasingly tight trade management policies, the outlook for Vietnam’s steel industry is considered quite positive. Experts say that the demand for materials for public investment, infrastructure development and civil construction will continue to be the main drivers of the industry’s growth in the coming time.
With simultaneous supporting factors from macroeconomics, market demand and management policies, Vietnam’s steel industry is facing the opportunity to strengthen its position in the region, and at the same time improve its competitiveness in the international market in the period of 2026 and the following years.
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