• Cement demand is expected to increase on the back of infrastructure projects
  • Exports are likely to remain stable in the next five years
  • Cement capacity is projected to grow as a result of further investment


Greenwich (CT), USA, January 10, 2023 – The Vietnamese cement industry is expected to see a demand increase at a CAGR of around 3 percent and exceed 110 million tons by 2027, according to CW Research's 2022 update of the Vietnam Cement Market & Forecast Report.

Cement demand is forecast to increase on the back of a large number of government-financed infrastructure projects, mostly focused on the transport sector. Recently, the government issued a transportation infrastructure development plan that will spend between USD 43-65 billion by 2030. Moreover, a series of infrastructure projects, including the North-South High-Speed Railway and Long Thanh Airport, are likely to receive an investment of more than USD 90 billion in the next twenty to thirty years.

"The Vietnamese government has been implementing policies to promote and develop the cement industry. Furthermore, the recovery of China's economy and the removal of anti-dumping duties on Vietnamese cement in the Philippines bode well for export opportunities in the coming years", states Wanderson Teixeira, Business Analyst at CW Group.

Exports are expected to remain relatively stable in the next five years, due to a combination of reduced demand for cement from key markets including China due to the global economic slowdown expected in 2023 and the lingering impact of high inflation caused by the Russia-Ukraine conflict. Clinker, which accounts for more than 60 percent of total exports and has seen an increase in the past five years, is expected to decline in the short term.


Investment to boost growth in cement capacity

Vietnam's cement industry has almost 60 cement manufacturers and a total designed production capacity of over 100 million tons of cement per year. Capacity has grown steadily over the years, with most of the top companies expanding in the last decade, investing in new plants or new production lines. Furthermore, the main cement manufacturers' investments in new plants, lines, and technology are expected to significantly increase total capacity in the next three years.


Cement prices affected by high inflation

Despite efforts by the Ministry of Construction and the Cement Association to reduce cement prices, they have recently risen due to inflation caused by a significant increase in the price of coal. Meanwhile, the Ministry will continue to encourage businesses to use industrial waste as raw materials and input fuel for production, as well as to invest in sulfate-resistant cement research and development.



The Vietnam Cement Market Report provides qualitative and in-depth market assessment and forecast of the country's cement industry, including cement volume trends in detail, trade flows, cement demand and production (historical and a five-year outlook), per capita consumption, and the competitive landscape. The report also comprises key players' profiles, cement production facility details, including past and announced brownfield production increases and greenfield projects.

Find out more about the report here.

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