Vietnam’s cement market shrinks by 39% in January

Cement consumption in Vietnam took a significant hit in January 2025, plummeting by 39% to 3,188,833 tonnes as reported by the Vietnam National Cement Association (VNCA) in comparison to the same period in 2024. Within this total figure, VICEM experienced an 11% decline year-over-year, with sales totaling 1,046,991 tonnes, while other VNCA members noted a 22% decrease to 621,842 tonnes. Non-VNCA cement companies also faced a substantial drop in sales by 39% year-over-year, amounting to 1,620,000 tonnes.

Furthermore, exports of clinker and cement from Vietnam encountered a similar decline, diminishing by 31% year-over-year to 2,203,713 tonnes in January 2025. Specifically, clinker exports were down by 32% year-over-year to 990,087 tonnes, and cement exports saw a 31% year-over-year decrease amounting to 1,213,626 tonnes.

Regarding clinker exports, VICEM’s export volume reached 9391 tonnes, experiencing a notable 94% year-over-year decline, while other VNCA members followed suit with a decrease of 69% year-over-year exporting 9305 tonnes. On the other hand, other cement companies saw a 24% drop in clinker exports, amounting to 971,391 tonnes. Vietnam managed to export clinker to various markets, with the Philippines and Bangladesh being the primary export destinations, and smaller volumes to Malaysia, Papua New Guinea, Chile, and Nicaragua.

In terms of cement exports, VICEM leads also endured a substantial decline of 86% year-over-year to 30,419 tonnes, while other VNCA members and other cement companies witnessed a reduction of 32% and 20% respectively, totaling 210,700 tonnes and 972,507 tonnes. Cement exports from Vietnam were distributed across 23 markets, including new markets like Russia, Saudi Arabia, and the USA. The USA, Philippines, South Africa, Singapore, and Malaysia were the main destinations for Vietnamese cement exports, indicating the global extent of the decline in cement consumption faced by Vietnam.

On the international front, Uzbekistan experienced a 35% increase in cement production in January 2025, with cement producers manufacturing a total of 849,400 tonnes. Meanwhile, Moroccan cement dispatches improved by 11% in February, with APC members including Asment Témara, Ciments de l’Atlas, Ciments du Maroc, and LafargeHolcim Morocco contributing to this positive trend.

In Belarus, the government announced plans to invest up to US$300 million in the domestic cement sector for modernization efforts. Similarly, cement dispatches in Peru demonstrated a slight decline of 2% in January 2025, with a total of 0.991 million tonnes delivered, down from 1.015 million tonnes in January the previous year.