2025, Vietnam's cement industry continued to recover strongly, with the national cement shipment volume increasing by 8% year-on-year to 6.93 million tons. Among them, Vietnam Cement Industry Group (VICEM) shipped 1.933 million tons, an increase of 5% year-on-year; other members of the association increased by 10% to 1.177 million tons; non-member enterprises increased by 9% to 3.82 million tons. This performance not only continued the positive momentum since the second half of the year, but also laid the foundation for the expected growth throughout the year.
The export market has become the core engine
to promote the growth of the industry. In November, the export volume of cement and clinker increased by 71% to 3.744 million tons, and the export volume of clinker increased by 205% to 1.712 million tons. Cement exports also increased by 25% year-on-year to 2.032 million tons. According to the annual cumulative data, the total export volume from January to November reached 33.654 million tons, an increase of 22% over the same period last year, including 13.771 million tons of clinker export, a substantial increase of 54% over the same period last year, and 19.883 million tons of cement export, an increase of 7% over the same period last year. It is worth noting that the export pattern showed obvious differentiation: the export of VICEM and its member enterprises generally declined, but the performance of non-member enterprises was very eye-catching. The export of clinker increased by 64% to 12.783 million tons, and the export of cement increased by 20% to 15.498 million tons, becoming the main force supporting the national export growth.
From the perspective of export market distribution, the United States and the Philippines are the two most important destinations for Vietnam's cement, with exports of about 4.5 million tons in the first 11 months; Singapore ranks third with about 1.9 million tons; South Africa, Honduras and Malaysia rank second with about 900,000 tons each. Clinker exports are mainly to Bangladesh (about 5.8 million tons), Ivory Coast (about 2.8 million tons), the Philippines (1.1 million tons), Taiwan (0.8 million tons) and Malaysia (0.7 million tons). The diversified export pattern has effectively dispersed market risks and opened up a broad growth space for Vietnam's cement industry. The recovery of
domestic demand has also contributed to the
recent large number of infrastructure projects entering the sprint stage or accelerating the start-up, which has significantly stimulated the demand for cement. The acceleration of public investment projects and the construction of new residential projects have jointly promoted the market activity. According to statistics, cement output reached 10.5 million tons in November, an increase of about 8% annually, and the cumulative output in the first 11 months exceeded 105 million tons, an increase of 10% year-on-year. Meanwhile, cement prices in the northern region rose by an average of 100,000 Vietnamese Dong per ton in November, with major producers including Vicem But Son and Vicem Hai Phong raising their prices by 100,000 to 140,000 Vietnamese Dong to absorb the pressure of rising raw material costs and maintain product quality.
Looking back on the trend in recent years, Vietnam's cement industry has experienced a complete cycle from peak to trough and then a strong rebound. In 2021, it set a consumption record of 108 million tons, of which more than 45 million tons were exported. However, it continued to decline in the following two years, with total consumption falling to 93.3 million tons in 2022 and exports falling by 33%, and further falling to 87.8 million tons in 2023. Although it rose to 93 million tons in 2024, it has not yet recovered to its historical peak. The strong rebound in 2025 marks that the industry has successfully come out of the trough and re-entered the growth channel.
Although the current market supply and demand pattern is still in a state of oversupply and the industry is facing certain structural challenges, with the synergy of domestic and foreign markets, the total consumption of cement and clinker in 2025 is expected to exceed 100 million tons again, and the export volume is expected to reach 37 million tons, with an export volume of about 1.36 billion US dollars. This will lay a solid foundation for the industry to consolidate its production base and expand its market space, and create favorable conditions for a sustained recovery in the coming year.
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