Vietnam’s cement market contracts 21% in 9M23

Cement sales in Vietnam dropped 21 per cent YoY to 4,031,951t in September 2023, according to the Vietnam National Cement Association (VNCA). Of this total, VICEM reported sales of 1,188,851t, down 26 per cent YoY while other VNCA members saw an identical decline to 833,100t. Non-VNCA producers sold 16 per cent less with sales of 2,010,000t.

Total exports increased 31 per cent YoY to 2,288,625t in September 2023. Cement exports saw a 46 per cent YoY advance to 1,394,536t while clinker exports increased by 12 per cent YoY to 984,089t in September 2023. VICEM saw its cement exports increase by 27 per cent to 223,941t while other VNCA members saw their cement exports more than double to 215,883t when compared with September 2022. Non-VNCA cement companies exported 954,712t of cement, up 41 per cent YoY, and 894,089t of clinker, up 28 per cent YoY, in September 2023.

January-September 2023
In the first nine months of 2023 Vietnam’s cement demand reached 41.635Mt, down 17 per cent YoY. VICEM saw a 18.4 per cent drop in sales to 13.058Mt in the January-September 2023 period. Other VNCA members reported a 24.4 per cent fall to 8.529Mt while non-VNCA players saw sales decline by 12.9 per cent YoY to 20.048t.

In terms of total exports, volumes slipped by two per cent YoY to 23.508Mt in the 9M22. Of this total cement exports increased to 15.45Mt, but clinker exports were down by 30 per cent YoY to 8.058Mt. VICEM cement exports declined by five per cent tYoY to 2.298Mt, but other VNCA members doubled their exports to 1.859Mt. Non-VNCA companies reported a 24 per cent upswing in cement exports. VICEM clinker exports were up 10 per cent YoY to 54,905t and other VNCA members saw their clinker exports advance by seven per cent to 54,152t. Non-VNCA companies reported a 79 per cent advance YoY to 7.949Mt.