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越南的水泥市場分析 (2018年)

Vietnam Cement Market Report 2018

出版商 StoxPlus - Biinform 商品編碼 314705
出版日期 內容資訊 英文 82 Pages
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越南的水泥市場分析 (2018年) Vietnam Cement Market Report 2018
出版日期: 2018年04月20日 內容資訊: 英文 82 Pages

越南的水泥市場,雖然預計今後持續以住宅建設需求為中心擴大趨勢,但是成長率慢慢降低。但是,對外出口浮現成為新的收益來源。受到大規模的建設計劃支撐,大型民營企業繼續擴張生產規模,另一方面外資型企業透過企業合併、收購 (M&A) 進入、滲透越南市場。

本報告提供越南的水泥市場相關分析,目前供需平衡趨勢和今後預測 (總計15年份),各領域 (國內用 (基礎設施,土木建設,住宅建設等),出口用)的詳細趨勢,未來市場成長可能性等調查。


第1章 需求與供給分析

  • 需求分析
  • 供給分析
  • 預測分析

第2章 競爭環境

  • 市場佔有率
  • 銷售、價格設定策略

第3章 業績趨勢

第4章 發展趨勢與市場可能性

  • 發展趨勢
  • 市場成長可能性

第5章 法規結構


  • 附錄1:越南的宏觀經濟情形
  • 附錄2:上市公司的概要資料
  • 附錄3:龍頭民間水泥/水泥熟料出口商者的簡介



‘Vietnam Cement Market 2018’ presents a board range of topics, both sector-specific and crosscutting market issues.

The research provides the latest information on the current situation of supply - demand in Vietnam cement sector by analysing two main sources of demand including domestic (infrastructure, civil and residential building), and exporting activities as well as the key development trends. Full 15-year forecasts (2015 - 2030) are included in this update.

Below are the most critical findings in our sixth issue:

  • 1. Domestic market has remained the growth but at a slower pace since 2014, especially in domestic consumption. Domestic market remained expanding slowly with a growth rate of 1.4% to reach the domestic sales volume of 60.6 million tonnes in 2017. The market has been on the downward trend since 2014 with the growth rate from 10.4% in 2014 to only 1.4% in 2017. During the first quarter of 2018, cement domestic sales remained low with a decrease of 11% in Mar 2018 compared to the same period (Mar 2017).
  • 2. Meanwhile, export activities appeared to be a good alternative solution for domestic cement manufacturers. The amount of cement and clinker exports in 2017 reached 19.7 million tonnes, equivalent to US$695 million. Compared to 2016, cement exports increased significantly by 27.2% in volume and 24% in value. Besides traditional market including Bangladesh, Philippines & Taiwan, China emerged as a potential export destination for clinker export due to plant shut down in this country.
  • 3. In supply side, private companies continued to launch 5 “mega” projects, resulting in the surge in total production capacity by 18% in 2017. Meanwhile, foreign players including SCG & SCCC put heavy investment in Vietnam via M&A. Production capacity of Vietnam surged in 2017 with the launch of 5 new plants invested by local private groups including Vissai, Thanh Thang, Xuan Thanh and ThaiGroup. This increase does not support the sustainable development of Vietnam cement market as Central market is relatively smaller than the North & South while both clinker & cement capacity are far higher than demands.
  • 4. Foreign-owned group increased significantly its market share via M&A while VICEM remains its leading position with 35% of domestic sales volume in 2017.
  • 5. Small-scale facilities remained the key issue for the performance efficiency of Vietnam industry cement. According to StoxPlus Database, there are 109 cement facilities with total capacity of 117.9 million tonnes per year (MTPY) owned by 94 companies, of which full-cycled factories account for majority of the market. Among those, nearly 65% of total facilities are small-scaled ones with production capacity under 1 MTPY, accounting for over one-third of total designed capacity. These small-scaled facilities faced with serious issues in terms of operation efficiency.
  • 6. Amongst cement demand sources, residential construction is considered the main driver for cement consumption in Vietnam, followed by non-residential construction, export and infrastructure development. Particularly, residential construction drived domestic cement consumption in 2017 and is expected to be in upward trend in the next five years. Meanwhile, infrastructure development is identified as a need for future growth of Vietnam. However, given high budget deficit of Vietnamese government and limited ODA from 2017, available fund for infrastructure is expected to decrease, leading to a fall of 1-2% in cement demand for infrastructure project.
  • 7. Listed cement manufacturers' profitability deteriorated due to the slow-down in domestic consumption. Costing and Financial Performance: Our data showed that historical EBITDA margin on average for 25 public cement companies in Vietnam is at 14.48% in 2016, showing an decrease by 3.4% compared to 2016.


Table of Contents

Executive Summary

Section 1: Supply and Demand Analysis

  • 1.1. Demand Analysis
  • 1.2. Supply Analysis
  • 1.3. Forecast Analysis

Section 2: Competition landscape

  • 2.1. Market Share
  • 2.2. Sales and Pricing Strategies

Sector 3: Sector Performance

Section 4: Development Trend and Market Potential

  • 4.1. Development Trend
  • 4.1. Market Potential

Section 5: Regulatory Framework


Appendix 1: Vietnam Macroeconomic Situation

Appendix 2: Listed Cement Companies' Factsheet

Appendix 3: Profiling of Top Private Cement & Clinker Exporters

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