Dublin, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The "Research Report on Vietnam's Cement Industry 2022-2031" report has been added to ResearchAndMarkets.com's offering.
In 2021, Vietnam's GDP increased by 2.58%, reached 3626.19 billion USD. Considering the spread of COVID-19 in 2020-2021, the annual GDP growth rate of 2.58% is already a good figure in the world. Vietnam's economy has been increasing rapidly for many years, but wages of the manufacturing are still at a low level, which were less than 50% in China and far below that of the developed countries in 2021.
Vietnam cement and clinker production volume reached 101.22 million tons in 2021, an increased 1.1% YOY.
According to the analysis, compared to China or other developed countries, low labor cost is one of the key advantages of the Vietnam cement industry. Besides, Vietnam possesses rich ore resources, which are raw materials of cement. The production cost of cement is mainly influenced by coal price.
Construction of infrastructure and the booming property industry contributed to increasing domestic consumption of cement in Vietnam in recent years. Several large infrastructure projects are also underway. However, urbanization rate of Vietnam is still very low, only less than 40.4% by the end of 2021, which means the consumption of cement is not currently at the peak.
Cement designed capacity in Vietnam is expected to surge in the next three to five years thanks to aggressive expansion of local manufacturers including Tan Thang, Vissai, and Xuan Thanh. In conclusion, Vietnam is expected to face with continuous supply surplus before reaching equilibrium. In other words, export volume of cement is estimated to keep rising in the future.
According to the analysis, Vietnam's cement production will maintain growth from 2022 to 2031. The drivers of rising cement production volume in Vietnam include (1) the rising demand for cement in the domestic market with the development of Vietnam's real estate industry and infrastructure (2) the export volume will also grow year by year due to the low-price level of cement in Vietnam.
Key Topics Covered:
1 Development Environment of Vietnam Cement Industry
1.1 Economic Environment
1.1.1 Vietnam's Economy
1.1.2 Minimum Wage Standard in Vietnam
1.2 Policy Environment
1.2.1 Preferential Policies on Foreign Investment
1.2.2 Policies Related to Imports and Exports
1.3 The impact of COVID-19 on Vietnam's cement industry
2 Analysis on Market Status of Vietnam Cement Industry
2.1 Supply of Vietnam Cement Industry
2.1.1 Output of Vietnam Cement Industry
2.1.2 Capacity of Vietnam Cement Industry
2.2 Production Cost of Vietnam Cement Industry
2.2.1 Raw Material Cost
2.2.2 Electricity Cost
2.2.3 Coal Cost
2.2.4 Human Resources Cost
2.3 Demand on Cement in Vietnam
2.3.1 Consumption of Cement in Vietnam
2.3.2 Infrastructure
2.3.3 Real Estate
3 Analysis on Import and Export of Cement
3.1 Overview of Cement Imports and Exports in Vietnam
3.2 Major Export Destinations of Vietnam Cement
4 Major Cement Manufacturers in Vietnam
4.1 Vietnam Cement Industry Corporation
4.2 The Vissai Cement Group
4.3 Xuan Thanh Cement Joint Stock Company
4.4 Nghi Son Cement Corporation (NSCC)
4.5 Luks Group (Vietnam Holdings) Co. LTD.
4.6 Tan Thang Cement Joint Stock Company
5 Prospect of Cement Industry in Vietnam
5.1 Factors influencing Vietnam Cement Industry
5.1.1 Market Driving Force and Opportunities
5.1.2 Threats and Challenges
5.2 Forecast on Production and Export of Vietnam Cement, 2022-2031
5.2.1 Forecast on Production
5.2.2 Forecast on Demand
5.2.3 Forecast on Export
Companies Mentioned
- Vietnam Cement Industry Corporation
- The Vissai Cement Group
- Xuan Thanh Cement Joint Stock Company
- Nghi Son Cement Corporation (NSCC)
- Luks Group (Vietnam Holdings) Co. LTD.
- Tan Thang Cement Joint Stock Company
For more information about this report visit https://www.researchandmarkets.com/r/wulm1m
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