Market Size of Vietnam Aluminum Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Aluminium Market Analysis
The Vietnam aluminum market is estimated to register a CAGR of over 7% during the forecast period.
The COVID-19 era negatively impacted the market. In 2020, widespread lockdowns, temporary factory closures, and trade sanctions caused significant global supply chain network disruptions. The market, however, grew gradually due to the restrictions being lifted and is therefore likely to continue this growth trajectory for the forecast period.
- Factors such as the construction industry's rising demand and the automotive sector's expansion are driving the market growth.
- The depreciating revenues from bauxite-alumina projects are acting as restraints to market growth.
- The increasing awareness of the usage of recycled aluminum is likely to act as an opportunity through the forecast period.
