Vietnam Ready Mix Concrete Market

Vietnam Ready-mix Concrete Market  Overview 

Vietnam Ready-mix Concrete Market  size is forecast to grow at a CAGR of 8.0% between 2025 and 2032 primarily driven by rapid population growth, rise in urbanization driving housing demand, government initiatives aimed at infrastructure development, increasing FDI in infrastructure projects.

Market Size, Forecast & Key Segment Insights

Market Size & Forecast:

• • 2024 – USD XX Billion
  • 2032 – USD XX Billion
  • Market Forecast – CAGR of 8.0% from 2025-2032

Segment Insights:

• • Application Type Insights: Residential housing continues to underpin construction activity in southern Vietnam, driven by urban growth. Industrial construction also strengthened in 2024 as manufacturers expanded capacity and attracted foreign investment. In parallel, the government’s strong focus on infrastructure development is increasing demand for ready-mix concrete, especially for large-scale public projects.

Vietnam Ready-mix Concrete Market Growth Drivers

Rapid Population Growth, Rise in Urbanization Driving Housing Demand

The Vietnam population is growing at a robust rate and is projected to reach 105 million by 2030, the growth in population in Vietnam coupled with rapid urban development and rising levels of disposable income are driving the need for new housing complexes in major urban areas and industrial zones.

This growth is driving the demand for residential construction and fuelling demand for building materials and eventually driving demand for RMC. The government of Vietnam have target to build 1 million affordable housing for low-income workers under Social Housing Scheme by 2030 will be propelling the demand for RMC during the forecast period.

Government Initiatives Aimed at Infrastructure Development

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.

Government initiatives aimed at developing country infrastructure development is creating huge demand for RMC in the country. In 2025, the government of Vietnam has increased the infrastructure spending target from 6 percent to 7 percent of GDP, though this the government wants to support short term economic growth and also maintain its appeal for foreign investors in the long run. This increase in infrastructure spending has raised investment in infrastructure to USD 36 billion in 2025. The government plans to double the length of total length of its highway network, airport passenger capacity, and seaport capacity by 2030.

Increasing FDI in Industrial & Infrastructure Projects

Growing foreign direct investment in construction, industrial, and real estate sectors is one of the factor that is driving the demand for ready mix concrete market. Factories, industrial parks, and logistics hubs are attracting a lot of foreign investors attentions and require consistent, high-quality concrete and massive amounts of concrete due to their sheer construction size is driving demand for ready mix concrete.

According to the Ministry of Planning and Investment, by the end of 2024 the country has 42,002 active FDI projects with total registered capital of around USD 502.8 billion. Of this, realized FDI is estimated at USD 322.5 billion, accounting for 64.1% of registered capital. The real estate sector attracted USD 73.18 billion in investment, representing about 14.6% of the total.

Challenges Faced by Vietnam Ready-mix Concrete Companies

Companies are facing challenges related to raw material availability and price fluctuations. To maintain growth momentum, companies will need to adopt flexible strategies, invest in technology, and strengthen supply chain efficiency.

Vietnam Ready-mix Concrete Market  Segment Analysis 

Application Type Market Insights

The government continued focus on Infrastructure development to drive the economic growth is driving demand for ready mix concrete from the infrastructure application. Government plans to increase additional public investments into large infrastructure projects related to highway, railways and ports, increasing the length of road network to double and new metro lines in Hanoi and HCMC would require millions of tons of concrete during the construction. Expansion of existing and addition of new ports to accommodate larger vessels will drive the demand for RMC in the country during the forecast period.

Growing population and rising urbanisation is driving demand for housing, the population is projected to reach 105 million by 2030 and a large number of people will be migrating to cities creating demand for housing. In addition, the government of Vietnam plan to build 1 million low cost houses will drive the demand for RMC till 2032.

Vietnam has become a manufacturing powerhouse, the industrial sector’s contribution to GDP has been in the range of 37-38% between 2023 and 2025 primarily driven by FDI in industrial sector. The government of Vietnam is prioritizing the establishment of new industrial parks in Hanoi to attract increased foreign direct investment to the city. Therefore, projects on new industrial development including the set-up industrial zones 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.

Vietnam Ready-mix Concrete Market  Major Players & Competitive Landscape

Major RMC companies operating in Vietnam are Siam City Cement Public Company Limited , Le Phan Construction Company, Fico Pan-United Concrete Joint Stock Company, Saigon Production and Trading Joint Stock Company (SMC), GCP Vietnam Company Ltd., Binh Duong, and many more.

Vietnam Ready-mix Concrete Market  Scope of the Report

Vietnam Ready-mix Concrete Market  Research Report Segmentation

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.

Vietnam Ready Mix Concrete Market by Application

• • Commercial
  • Residential
  • Industrial
  • Infrastructure

Vietnam Ready Mix Concrete Market Leading players

• • Siam City Cement Public Company Limited

  • Le Phan Construction Company

  • Fico Pan-United Concrete Joint Stock Company

  • Saigon Production and Trading Joint Stock Company (SMC)

  • GCP Vietnam Company Ltd.

  • Binh Duong