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Vietnamese cement market continues to oversupply

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World Cement,

The Vietnamese cement market continues to oversupply with a using rate of 64% in 2015, excluding exports volume.

In Vietnam, cement consumption reached 55.5 million t, rising 9.2% compared to the same period last year. Export volume alone reached 17 million t. However, large cement plants are under construction and expected to raise the total capacity to 15.7 million tpy in the next two years.

The overview of cement demand can change significantly based on the development of infrastructure projects and real estate cycles. Vietnam is a developing country and still lacks all types of infrastructure, including both hardware and software.

There are 292 expected projects through to 2030, with a total value of US$283 million. However, the conditions of the infrastructure projects are very uncertain and depend on the availability of funding. Moreover, the budget deficit still remains at a high level since 2014. In addition, the lack of a suitable roadmap also causes difficulties building planned infrastructure.

Adapted from press release by Joseph Green

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