According to study, “Vietnam Cement Comprehensive Report Q4/2019” the key companies operating in the Vietnam cement industry are Ha Tien 1 Cement Joint Stock Company, VICEM Hoang Thach Cement Company, VissaiNinhBinh Cement Corporation., VICEM But Son Cement Joint Stock Company, Nghi Son Cement Company, VICEM Hoang Mai Cement Joint Stock Company, Bim Son Cement Joint Stock Company, QuangNinh Cement and Construction Joint Stock Company, Thang Long Cement Joint Stock Company, Sai Son Cement Joint Stock Company. The depletion of fossil fuel reserves and rise in environmental concerns have prompted cement manufacturers to introduce improved production methods & formulations. Key companies are forming mergers & acquisitions (M&A) and joint ventures to increase their market presence & product portfolio. Rapid investments are being made by companies to expand their capacities.
Cement is a construction material made by grinding a combination of clay and limestone. It binds together other materials through a blend of chemical processes collectively known as setting. It is a dry powder. It is an important constituent of mortars or concretes as it acts as the ‘glue’ that gives strength to structures.Depending on its capability to set in the existence of water, it is categorized as hydraulic and non-hydraulic. Hydraulic cement hardens quickly owing to a chemical reaction between water and dry ingredients. Non-hydraulic cement reacts with carbon dioxide (CO2) in the environment to set and provides optimal resistance against chemicals. Cement is a backbone of the infrastructure sector as it is utilized for mass constructions, for instance civil works, industrial estates and dwellings.
Based on type, Vietnam cement industry is segmented into blended cement (slag, limestone, pozzolana, slag), Portland cement and others (colored cement, composite cement, low-alkali cement, air-entraining cement). Blended cement segment holds major share in market owing to its characteristics for instance improved workability & pump ability, reduced water demand and reduced crack formation due to thermal stress. Portland cement is used to produce concrete which is further used in the construction of panels, beams, and in mega-structures such as roads and dams. The segment is estimated to witness higher growth rate as it can be used for all basic type of construction purposes during the forecast period. Portland cement is further divided based on their chemical and physical properties. In addition, based on end-use, market is segmented into commercial construction, residential construction, and infrastructure.
The Vietnam cement industry is driven by increase in construction activities, followed by expansion of civil engineering sector, increase in disposable income, favorable demographics, growth in demand for green cement, rise in urbanization and increase in infrastructure projects in developing regions. However, danger of getting exposed to diseases for instance lung cancer may impact the market. Moreover, rise in investment by government on residential as well as public work sectors is a key opportunity for market. Furthermore, growth in trend of nuclear families is a major trend for market.
In upcoming years, it is predicted that the Vietnam cement market will be reached at rapid pace as a result of growth in development in technology & commercial establishments, increase in need for accommodation, and rise in disposable income during the forecast period.
For More Information, refer to below link:-
Global Portland Cement Market Research (2015-2019) and Future Forecast (2020-2025)
Global Polymer Modified Cementitious Coating Market Research (2015-2019) and Future Forecast (2020-2025)
Global Cementing Unit Market Research (2015-2019) and Future Forecast (2020-2025)
Ankur Gupta, Head Marketing & Communications