The hydraulic cement production in Vietnam has shown consistent growth over the past decade, with actual data indicating a rise from 57.52 million metric tons in 2013 to 110.75 million metric tons in 2023. In 2023, the year-on-year growth rate was 3.54%. The period from 2013 to 2023 exhibited significant growth with occasional fluctuations, including a decrease in 2020 due to external factors.
Over the last two years, hydraulic cement production experienced moderate growth: 3.75% in 2022 and 3.54% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 4.44%, indicating a steady increase in production volume.
Looking forward, forecasted data suggests hydraulic cement production will reach 130.52 million metric tons by 2028, with a forecasted 5-year CAGR of 2.58%. This demonstrates a slower yet stable growth rate and an overall anticipated increase of 13.59% from 2024 to 2028.
Future trends to watch for:
- Technological advancements and modernization in production processes.
- Environmental regulations impacting production practices.
- Economic and infrastructural development initiatives driving demand.
- Global market trends and their implications on local production and export capacity.
