Vietnam Ready Mix Concrete Market

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Major Vietnam Ready Mix Concrete Market Drivers

Vietnam Ready Mix Concrete Market (RMC Market) is forecast to expand at a high compound annual growth rate (CAGR) of 8.0% between 2024 to 2031owing to an increase in investment in infrastructure, rapid urbanization, and industrialization, and an increase in the disposable income of consumers. In Vietnam, the infrastructure sector is the foremost factor for economic development and is accountable for driving the overall development of an economy. The government of Vietnam is projected to develop high-quality infrastructure across Vietnam. The private sector investment is anticipated to present growth from moderate to high, due to different factors including a rise in government expenditure on infrastructure, advancement in energy, construction, and utilities activity, and development of new national highways, roads, bridges, and others.

The government of Vietnam is prioritizing the establishment of new industrial parks in Hanoi to attract increased foreign direct investment to the city. For instance, there are plans to develop 5 new industrial parks between 2021 and 2025. These include the Dong Anh Industrial Park covering 300 hectares, Soc Son Clean Industrial Park, spanning 302.8 hectares, Phung Hiep Industrial Park encompassing 174.88 hectares, and Bac Thuong Tin Industrial Park, encompassing 112 hectares, extended Phu Nghia Industrial Park covering 389 hectares. Therefore, projects on new industrial development including the set-up of 4-5 industrial zones 2021-2025 across Ha Noi will foster industrial construction activities across the city, and it is projected to propel the Vietnam RMC demand, this will present a positive rise in Vietnam RMC market growth.

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In addition, different advantages such as high-performance products, less time-consuming for business, and sustainable processes are anticipated to increase the Vietnam RMC market size. The rapid expansion of construction activities and increasing market competition are propelling Vietnamese companies to adopt ready-mix concrete, influenced by a strong desire to improve quality. Companies such as Mapei Admixtures Company, a leading producer of ready-mix concrete across Vietnam, are playing an important role in this shift. They contribute to the construction of significant concrete structures including Golden Bridge, Da Nang, and Ba Na Hills reflecting the rising significance of ready-mix concrete in Vietnam’s construction industry. The bridge spans nearly 12.8 meters wide and nearly 150 m long, featuring 8 arches, with the longest measuring 21.2 meters. Its construction took place within mountainous terrain and forest, anticipating significant access challenges.

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Despite these constraints, ready-mixed concrete had to be transported over long distances, enduring high temperatures, while still meeting the required mechanical strength demand for construction. The solution was offered by DYNAMON SR2 VN which is a superplasticizer designed for ready-mixed concrete, distributed, and manufactured by Mapei Vietnam. The growth in construction activities directly propels building materials, with concrete being a foremost component. The ready-mix concrete benefits the most from the rise in construction activities, making solutions including DYNAMON SR2 VN important for addressing the requirements of modern construction projects.

Segments covered in the Report:

The Vietnam Ready Mix Concrete Market has been segmented on the basis of Application. Based on the Application, the market is segmented into Residential, Infrastructure, Industrial and Industrial Utilities.

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Market Segmentation

Vietnam Ready Mix Concrete Market by Application

• • Residential
  • Infrastructure
  • Industrial
  • Industrial Utilities