In July 2025, Vietnam exported over 3 million tons of cement and clinker, up 12% compared to June. However, this growth was not sufficient to offset trade barriers in major export markets.
In terms of structure, cement accounted for nearly 1.8 million tons (slightly down from the previous month but up 19% year-on-year), while clinker exceeded 1.21 million tons, surging 57% month-on-month and 23% year-on-year. The ratio between cement and clinker stood at approximately 60/40.
Export value in July reached around USD 116.32 million, up 8% from June and 20% compared to July 2024.
Cumulatively, in the first 7 months of 2025, total exports reached nearly 19.93 million tons, an increase of 9.1% year-on-year.
Growth drivers – domestic and export markets
Domestic consumption has been recovering strongly: in the first half of 2025, total cement output reached 60.59 million tons, up 62% compared to the same period in 2024. Of this, domestic sales stood at 37.64 million tons, up 39%. The main drivers were robust public investment, looser credit, and lower interest rates.
However, the industry still faces significant overcapacity: around 122 million tons/year, nearly double actual demand. As a result, many plants are operating below capacity or incurring losses to maintain market share.
Exports in the first 6 months rose modestly: 16.92 million tons worth over USD 634 million, up 6% and 5% respectively year-on-year.
Outlook for the First Three Quarters of 2025
1. Exports to maintain positive momentum
With steady growth in July and August, total cement–clinker exports by the end of Q3 are projected at 23–24 million tons, up 10–12% year-on-year. Export turnover is estimated at USD 870–890 million, reflecting a clearer recovery trend in the second half of the year.
2. Shifting market structure
Clinker continues to gain share thanks to demand from Asian markets such as Bangladesh and the Philippines. Meanwhile, cement exports are under heavy pressure from trade defense measures (Taiwan, the Philippines), forcing producers to restructure distribution channels or accept lower margins.
3. Domestic market as a stabilizing pillar
The strong domestic growth seen in the first half of 2025 is likely to persist through Q3, supported by accelerated public investment. This provides balance against export volatility and helps reduce inventory pressure on producers.
4. Risks and challenges
Beyond prolonged overcapacity, the industry faces high production costs (fuel, logistics) and intense regional competition. To remain competitive, companies need to enhance technology, develop green products, and explore niche markets.
Overall Assessment
By the end of the first three quarters of 2025, Vietnam’s cement–clinker industry shows clear signs of recovery, supported by both export growth and domestic consumption. However, the outlook for the full year still depends heavily on how enterprises adapt to international trade barriers and address structural overcapacity. Supportive policies such as export tax reductions, along with strong public investment, will be critical in sustaining growth momentum in the final months of the year.
Collector: Ms. Elly Nguyen – Sales Manager
Whatsapp: +84 369 980 010