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Vietnam Construction Chemicals Market Size

The Vietnam construction chemicals market is experiencing significant growth, driven by an increase in construction activities across the country. The market's expansion is largely attributed to the industrial and institutional sectors, which have shown a higher demand for construction chemicals due to their extensive non-residential projects and diverse needs. The commercial sector also contributes notably to the market size, supported by Vietnam's focus on private investments and a booming tourism industry. Additionally, the trend of companies establishing or relocating manufacturing facilities to Vietnam, along with investments in educational and healthcare infrastructure, is expected to further boost the market's growth trajectory.

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Market Size of vietnam construction chemicals Industry

Vietnam Construction Chemicals Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 447.58 Million
svg icon Market Size (2030) USD 629.36 Million
svg icon Largest Share by End Use Sector Industrial and Institutional
svg icon CAGR (2024 - 2030) 5.85 %
svg icon Fastest Growing by End Use Sector Commercial
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Vietnam Construction Chemicals Market Analysis

The Vietnam Construction Chemicals Market size is estimated at 447.58 million USD in 2024, and is expected to reach 629.36 million USD by 2030, growing at a CAGR of 5.85% during the forecast period (2024-2030).

447.58 Million

Market Size in 2024 (USD)

629.36 Million

Market Size in 2030 (USD)

8.47 %

CAGR (2018-2023)

5.85 %

CAGR (2024-2030)

Largest Market by Product

29.75 %

value share, Waterproofing Solutions, 2023

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Waterproofing solutions hold the largest share due to widespread applications of waterproofing, such as roofings, walls, basements, water tank linings, bridge decks, etc., from the industrial and commercial sectors.

Fastest Market by Product

6.82 %

Projected CAGR, Surface Treatment Chemicals, 2024-2030

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Ease of application, low VOC content, and low-cost alternatives to concrete admixtures make them an ideal choice to protect concrete surfaces, and the surface treatment chemical segment is likely to witness the fastest growth.

Largest Market by End Use Sector

39.68 %

value share, Industrial and Institutional, 2023

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Due to the high demand for waterproofing solutions, flooring resins, concrete admixtures, etc., from the chemical, pharmaceutical, and food industries in the country, the industrial and institutional sectors hold the largest share.

Fastest Market by End Use Sector

6.21 %

Projected CAGR, Commercial, 2024-2030

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Increasing tourism and commercial construction projects, along with the rising foreign direct investments will support the country's commercial sector growth at a faster rate in the coming years.

Leading Company

19.44 %

market share, Sika AG, 2022

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The company's broad range of high-quality products, well-established network in the country, robust supply chain, and strategic expansions and acquisitions in the construction industry make it a major player in the market.

Vietnam is becoming a global manufacturing hub, boosting the growth of the market significantly

  • In 2022, Vietnam's construction chemicals market witnessed a 5.6% surge in demand, driven by a robust uptick in construction activities in the country. The construction industry was predicted to experience a 7.8% value growth in 2023, further fueling a projected 5.7% uptick in the demand for construction chemicals.
  • The industrial and institutional sectors emerged as the key consumers of construction chemicals in the country in 2022. This sector, with its expansive non-residential construction footprint and diverse requirements, exhibited a higher demand for these chemicals compared to the residential segment. In addition, these projects are typically funded by organizations, ensuring ample financial resources.
  • Furthermore, the commercial sector secured the second-highest demand for construction chemicals in 2022. Following the industrial and institutional sectors, the collective demand from commercial buildings outpaced other segments. Vietnam's emphasis on private investments, a thriving tourism industry, and a surging urban population have propelled construction and spending in this sector.
  • Moreover, there is a growing trend among firms to establish or relocate their manufacturing facilities to Vietnam, alongside potential investments in educational and healthcare infrastructure. Consequently, the industrial and institutional sectors are anticipated to witness the swiftest demand growth due to such favorable factors, with a projected CAGR of 6.24% during the forecast period (2023-2030).
Vietnam Construction Chemicals Market

Vietnam Construction Chemicals Industry Segmentation

Commercial, Industrial and Institutional, Infrastructure, Residential are covered as segments by End Use Sector. Adhesives, Anchors and Grouts, Concrete Admixtures, Concrete Protective Coatings, Flooring Resins, Repair and Rehabilitation Chemicals, Sealants, Surface Treatment Chemicals, Waterproofing Solutions are covered as segments by Product.

  • In 2022, Vietnam's construction chemicals market witnessed a 5.6% surge in demand, driven by a robust uptick in construction activities in the country. The construction industry was predicted to experience a 7.8% value growth in 2023, further fueling a projected 5.7% uptick in the demand for construction chemicals.
  • The industrial and institutional sectors emerged as the key consumers of construction chemicals in the country in 2022. This sector, with its expansive non-residential construction footprint and diverse requirements, exhibited a higher demand for these chemicals compared to the residential segment. In addition, these projects are typically funded by organizations, ensuring ample financial resources.
  • Furthermore, the commercial sector secured the second-highest demand for construction chemicals in 2022. Following the industrial and institutional sectors, the collective demand from commercial buildings outpaced other segments. Vietnam's emphasis on private investments, a thriving tourism industry, and a surging urban population have propelled construction and spending in this sector.
  • Moreover, there is a growing trend among firms to establish or relocate their manufacturing facilities to Vietnam, alongside potential investments in educational and healthcare infrastructure. Consequently, the industrial and institutional sectors are anticipated to witness the swiftest demand growth due to such favorable factors, with a projected CAGR of 6.24% during the forecast period (2023-2030).
End Use Sector
Commercial
Industrial and Institutional
Infrastructure
Residential
Product
Adhesives
By Sub Product
Hot Melt
Reactive
Solvent-borne
Water-borne
Anchors and Grouts
By Sub Product
Cementitious Fixing
Resin Fixing
Other Types
Concrete Admixtures
By Sub Product
Accelerator
Air Entraining Admixture
High Range Water Reducer (Super Plasticizer)
Retarder
Shrinkage Reducing Admixture
Viscosity Modifier
Water Reducer (Plasticizer)
Other Types
Concrete Protective Coatings
By Sub Product
Acrylic
Alkyd
Epoxy
Polyurethane
Other Resin Types
Flooring Resins
By Sub Product
Acrylic
Epoxy
Polyaspartic
Polyurethane
Other Resin Types
Repair and Rehabilitation Chemicals
By Sub Product
Fiber Wrapping Systems
Injection Grouting Materials
Micro-concrete Mortars
Modified Mortars
Rebar Protectors
Sealants
By Sub Product
Acrylic
Epoxy
Polyurethane
Silicone
Other Resin Types
Surface Treatment Chemicals
By Sub Product
Curing Compounds
Mold Release Agents
Other Product Types
Waterproofing Solutions
By Sub Product
Chemicals
Membranes
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Vietnam Construction Chemicals Market Size Summary

The Vietnam construction chemicals market is experiencing significant growth, driven by a robust increase in construction activities across various sectors. The industrial and institutional sectors are the primary consumers, benefiting from extensive non-residential projects and substantial financial backing. The commercial sector also shows strong demand, fueled by private investments, a booming tourism industry, and urbanization. This growth is further supported by the establishment of new manufacturing facilities and investments in infrastructure, such as educational and healthcare projects. The market is characterized by a moderate level of consolidation, with major players like Bestmix Corporation, Fosroc, Inc., MBCC Group, Saint-Gobain, and Sika AG leading the industry.

The residential sector in Vietnam is also witnessing a surge in demand, driven by a growing middle class and rapid urbanization. This demand is supported by favorable economic conditions and regulatory changes aimed at attracting foreign investment. Despite challenges posed by the COVID-19 pandemic, the sector has shown resilience and is expected to continue its upward trajectory. The market's growth is reflected in the increasing construction of new floor areas, with projections indicating sustained expansion in both residential and commercial spaces. The strategic acquisitions and innovations by key players, such as Sika's acquisition of the MBCC Group, further underscore the dynamic nature of the market, positioning it for continued growth in the coming years.

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Vietnam Construction Chemicals Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size, forecasts up to 2030 and analysis of growth prospects.)

    1. 1.1 End Use Sector

      1. 1.1.1 Commercial

      2. 1.1.2 Industrial and Institutional

      3. 1.1.3 Infrastructure

      4. 1.1.4 Residential

    2. 1.2 Product

      1. 1.2.1 Adhesives

        1. 1.2.1.1 By Sub Product

          1. 1.2.1.1.1 Hot Melt

          2. 1.2.1.1.2 Reactive

          3. 1.2.1.1.3 Solvent-borne

          4. 1.2.1.1.4 Water-borne

      2. 1.2.2 Anchors and Grouts

        1. 1.2.2.1 By Sub Product

          1. 1.2.2.1.1 Cementitious Fixing

          2. 1.2.2.1.2 Resin Fixing

          3. 1.2.2.1.3 Other Types

      3. 1.2.3 Concrete Admixtures

        1. 1.2.3.1 By Sub Product

          1. 1.2.3.1.1 Accelerator

          2. 1.2.3.1.2 Air Entraining Admixture

          3. 1.2.3.1.3 High Range Water Reducer (Super Plasticizer)

          4. 1.2.3.1.4 Retarder

          5. 1.2.3.1.5 Shrinkage Reducing Admixture

          6. 1.2.3.1.6 Viscosity Modifier

          7. 1.2.3.1.7 Water Reducer (Plasticizer)

          8. 1.2.3.1.8 Other Types

      4. 1.2.4 Concrete Protective Coatings

        1. 1.2.4.1 By Sub Product

          1. 1.2.4.1.1 Acrylic

          2. 1.2.4.1.2 Alkyd

          3. 1.2.4.1.3 Epoxy

          4. 1.2.4.1.4 Polyurethane

          5. 1.2.4.1.5 Other Resin Types

      5. 1.2.5 Flooring Resins

        1. 1.2.5.1 By Sub Product

          1. 1.2.5.1.1 Acrylic

          2. 1.2.5.1.2 Epoxy

          3. 1.2.5.1.3 Polyaspartic

          4. 1.2.5.1.4 Polyurethane

          5. 1.2.5.1.5 Other Resin Types

      6. 1.2.6 Repair and Rehabilitation Chemicals

        1. 1.2.6.1 By Sub Product

          1. 1.2.6.1.1 Fiber Wrapping Systems

          2. 1.2.6.1.2 Injection Grouting Materials

          3. 1.2.6.1.3 Micro-concrete Mortars

          4. 1.2.6.1.4 Modified Mortars

          5. 1.2.6.1.5 Rebar Protectors

      7. 1.2.7 Sealants

        1. 1.2.7.1 By Sub Product

          1. 1.2.7.1.1 Acrylic

          2. 1.2.7.1.2 Epoxy

          3. 1.2.7.1.3 Polyurethane

          4. 1.2.7.1.4 Silicone

          5. 1.2.7.1.5 Other Resin Types

      8. 1.2.8 Surface Treatment Chemicals

        1. 1.2.8.1 By Sub Product

          1. 1.2.8.1.1 Curing Compounds

          2. 1.2.8.1.2 Mold Release Agents

          3. 1.2.8.1.3 Other Product Types

      9. 1.2.9 Waterproofing Solutions

        1. 1.2.9.1 By Sub Product

          1. 1.2.9.1.1 Chemicals

          2. 1.2.9.1.2 Membranes

Vietnam Construction Chemicals Market Size FAQs

The Vietnam Construction Chemicals Market size is expected to reach USD 447.58 million in 2024 and grow at a CAGR of 5.85% to reach USD 629.36 million by 2030.

In 2024, the Vietnam Construction Chemicals Market size is expected to reach USD 447.58 million.

Vietnam Construction Chemicals Market Report Snapshots

Vietnam Construction Chemicals Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030