Vietnam cement demand is back on a stronger growth path: Total sales reached 110.3 million tons in 2025, making a solid 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.  

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.  

Export activities  are being reshaped by market diversification:While cement exports recored moderate growth, clinker exports surged 24.7% CAGR during 2023–2025, driven by  emerging demand from new markets such as  Côte d'Ivoire and Singapore alongside stronger uptake from Hong Kong.  

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.  

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.  

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.