Vietnam Construction Materials Market (2024-2030) | Analysis, Size, Companies, Outlook, Share, Trends, Growth, Forecast, Value, Revenue & Industry

Topics Covered in the Vietnam Construction Materials Market

The Vietnam Construction Materials Market report thoroughly covers the market by product type and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Construction Materials Market Synopsis

Vietnam is one of the fastest-growing economies in the world today. Infrastructure development has been a key driver of economic growth in the country in recent years. As such, the construction industry is one of the most significant sectors in Vietnam, and the demand for construction materials has increased.  The urbanization rate in the country has been increasing, with a projection of 45 percent in 2025, boosting the construction of residential and commercial buildings. Furthermore, the tourism sector has increased the construction of hotels, resorts, and other tourist facilities, thus leading to increasing demand for construction materials.

According to 6Wresearch, the Vietnam Construction Materials Market size is expected to register a CAGR of 7.5% during the forecast period 2024-2030. The Vietnamese government's commitment to infrastructure development is undeniable. The government has introduced several infrastructure projects such as highways, airports, and seaports, boosting the demand for construction materials in Vietnam. Additionally, Vietnam's entrance into various trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) has created opportunities for foreign investors in the construction industry, resulting in more demand for construction materials.

Despite the growth, challenges remain in the Vietnamese construction materials market. The increasing cost of raw materials, unstable supply, and transportation difficulties are some of the significant issues in the market. Environmental concerns have also been a challenge, with Vietnam having no comprehensive law for industrial waste disposal. Nevertheless, the rising use of sustainable construction materials is a trend leaving a positive impact on the Vietnam Construction Materials Market growth. With environmental concerns becoming a priority, the demand for sustainable buildings has been increasing. Moreover, the growth in the construction of high-rise buildings has led to the need for more lightweight construction materials, leading to the development of eco-friendly and innovative materials.

Government Initiatives introduced in the Vietnam Construction Materials Market

The government initiative launched in Vietnam is the implementation of green building standards and regulations. Vietnam government has set targets to reduce GHG levels. This has resulted in the promotion of energy-efficient buildings with clear guidelines on construction and energy use, which is boosting the demand for materials like insulation, Low-E glass, and solar panels. This initiative has also resulted in increased foreign investments in the sustainable building industry, which is a great boost for the Vietnam construction materials industry.

The Vietnamese government has been also promoting the use of locally-manufactured construction materials. The country has a wealth of raw materials, and the government's focus is on reducing dependency on imported materials while creating employment opportunities within the country. This has resulted in the development of domestic industries that are producing materials such as cement, bricks, tiles, and steel. With the government's support, these industries now can produce premium quality materials that can compete with imported products, making them more accessible to local developers and contractors.

Key Players in the Vietnam Construction Materials Market

The Vietnam construction materials market has attracted both local and international investors. Some of the significant players in the market include VinGroup, Hoa Phat Group, Doosan Vina, Boral Vietnam, and CPG Vietnam. These companies offer a wide range of products such as cement, building aggregates, precast, and ready-mix concrete.

Market Analysis by Application

According to Nitesh, Research Manager, 6Wresearch, the industrial sector in the Vietnamese construction materials market owing to certain aspects like industrialization, infrastructure projects, export growth, and technology advancement.

Market Analysis by Product Type

Based on Product Type, all four construction materials including Construction Aggregates, Concrete Bricks, Cement, and Construction Metals have a high demand. As each of the materials has its features. Such as construction aggregates are versatile and cost-effective, concrete bricks offer durability and strength, cement is widely used in bonding several

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Construction Materials Market Outlook
• Market Size of Vietnam Construction Materials Market, 2023
• Forecast of Vietnam Construction Materials Market, 2030
• Historical Data and Forecast of Vietnam Construction Materials Revenues & Volume for the Period 2020 - 2030
• Vietnam Construction Materials Market Trend Evolution
• Vietnam Construction Materials Market Drivers and Challenges
• Vietnam Construction Materials Price Trends
• Vietnam Construction Materials Porter's Five Forces
• Vietnam Construction Materials Industry Life Cycle
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Product Type? for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Construction Aggregates for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Concrete Bricks for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Cement for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Construction Metals for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Residential for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Commercial for the Period 2020 - 2030
• Historical Data and Forecast of Vietnam Construction Materials Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Vietnam Construction Materials Import Export Trade Statistics
• Market Opportunity Assessment By Product type
• Market Opportunity Assessment By Application
• Vietnam Construction Materials Top Companies Market Share
• Vietnam Construction Materials Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Construction Materials Company Profiles
• Vietnam Construction Materials Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Construction Aggregates
• Concrete Bricks
• Cement
• Construction Metals

By Application

• Residential
• Commercial
• Industrial