FiinGroup proudly presents the Vietnam Cement Market Report 2026, offering the most comprehensive and up-to-date analysis of Vietnam's cement sector. This edition covers market size and demand dynamics, export performance, production capacity and utilization, pricing and input cost trends, listed company financial performance, green transition progress, and a forward-looking demand and supply outlook through 2030.

What’s new?

Vietnam's cement and clinker market returned to strong growth in 2025, with total sales climbing 17.3% y-o-y to 110.3mn tons — the highest level in five years. The recovery was underpinned by improving real estate sentiment, accelerated government disbursement on major infrastructure corridors, and a systematic shift in export destinations toward Africa, Europe, and other emerging markets. This 2026 edition delivers market data and operational insights as of May 2026, and includes forward-looking analysis on demand recovery, supply-demand rebalancing, green transition, and input cost risks to support strategic decision-making for businesses, investors, and industry stakeholders.

What the report covers:

1. Vietnam cement demand is back on a stronger growth path: Total sales reached 110.3 million tons in 2025, making a slolid recovery at 13.5% CAGR during 2023–2025 and further accelerating into Q1.2026. The rebound has been supported by accelerated public infrastructure spending and signs of recovery in the real estate sector.
2. Regional demand diverged sharply in 2025. The South emerged as the fastest growing region propelled by the fast-tracking of mega-projects including Long Thanh International Airport, HCMC Ring Road 3, and the Ben Luc–Long Thanh Expressway.
3. Export activities are being reshaped by market diversification: While cement exports recored moderate growth, clinker exports surged 24.7% CAGR during 2023–25, driven by  emerging demand from new markets such as  Côte d'Ivoire and Singapore alongside stronger uptake from Hong Kong.
4. Vietnam remains a large-scale production base but supply pressure is gradually easing: Installed cement capacity stayed at 136 million tons in 2025, with local private players accounting for approximately 53% of total capacity. With limited new capacity additions expected, the sector is entering a period of gradual supply-demand rebalancing after years of structural oversupply.
5. Key growth drivers could narrow the supply-demand gap toward 2030: FiinGroup forecasts cement demand to grow at more than 10% CAGR during 2026–2030, underpinned by mega infrastructure projects, social housing programs, and rising FDI-driven industrial construction demand. As installed capacity remains broadly stable, utilization rate are expected to improve accordingly.
6. The green transition is moving up the strategic agenda: Vietnamese cement producers are accelerating the adoption of alternative fuels, co-processing, and low-carbon cement products to align with Vietnam's Net Zero 2050 commitment.
7. Listed cement producers returned to profitability in 2025 after three consecutive loss-making years, supported by easing coal costs and tighter cost controls. However, 2026 presents renewed headwinds as geopolitical tensions push coal, oil, and higher electricity costs.

More information as well as the table of contents, report preview, and contact person can be found on FiinResearch website as follows:

You can also check out other reports covering key sectors of Vietnam including Cement, Water Supply, Consumer Finance, Banking, Healthcare, Housing Builders, and Plastic etc. on our website: http://fiinresearch.vn

If you would like to obtain the full contents of this Report, kindly direct your request to our Client Advisor at research.support@fiingroup.vn