Vietnam Asphalt Market Growth Forecasts, Trends and Outlook 2025: Initiatives such as the Construction of the Long Thanh Airport Project and Highway Expansions are Increasing Asphalt Consumption - ResearchAndMarkets.com

The "Vietnam Asphalt Market | Forecast, Growth, Value, Analysis, Trends, Share, Outlook, Revenue, Companies, Size & Industry: Market Forecast By Type, By Application And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

The Vietnamese Asphalt Market has recently expanded, fueled by an increase in road construction and a heightened focus on smart city initiatives. These factors have accelerated the ongoing growth of asphalt in Vietnam. Initiatives such as the construction of the Long Thanh Airport project and various highway expansions are increasing asphalt consumption.

Furthermore, rapid urbanization has resulted in more construction activities in cities, further fueling the need for asphalt in road construction and maintenance. The government's focus on enhancing transportation networks to support economic growth has contributed to the growth of asphalt in Vietnam.

Vietnam's Asphalt Market is projected to grow at a CAGR of 7.6% from 2024-2030F. This anticipated growth is driven by burgeoning infrastructure and the growth of the residential sector. The government's ambitious investment plans, including a significant expansion of expressway and highway networks to 2000 km by 2025, along with an additional 3000 km of the highway would greatly impact the asphalt market. Furthermore, planned upgrades to National Highway 53, 62, and 91B in the Mekong Delta, supported by a $386 million investment, highlight the growing need for high-quality asphalt in road construction and maintenance.

Additionally, the expansion of the residential sector fueled by factors such as government interventions & regulatory reforms such as revised land law, to address systemic challenges and improve market operations. Also, government initiatives such as Social Housing Projects like Happy Home Star City in Thanh Hoa & Rice City have played a significant role in the expansion of the residential sector. Collectively, these factors create a strong environment for the growth of the asphalt market in Vietnam, positioning it for sustained development in the coming years.

Market Segmentation

By Application

• Paving is poised to dominate the market during the forecast period, owing to rapid expansion in the construction sector, driven by the increased need for safer roads as high-quality pavements are essential for improving transportation efficiency and safety.
• Additionally, the government has prioritized upgrading and expanding transportation networks. As Vietnam invests heavily in road construction and maintenance to support its growing economy, the demand for asphalt for paving purposes has surged.
• Additionally, the durability and performance characteristics of asphalt make it a preferred material for various paving applications, solidifying its leading position in the market.

By Type

• Hot Mix Asphalt is poised to dominate the market during the forecast period, owing to Infrastructure development including roads, highways and airports. The Vietnamese government is making substantial investments in transportation projects, with a notable program comprising 19 initiatives, including 11 expressways. For instance, the improvement of three national highways in the Mekong Delta, at a cost of $ 386 million, is expected to significantly boost asphalt demand.
• Furthermore, major infrastructure projects, such as the development of Ho Chi Minh City, the construction of Long Thanh International Airport, and enhancements to the railway network in Hanoi, will further elevate the need for hot-mix asphalt. These factors collectively indicate a robust increase in demand for asphalt in the country over the forecast period.

Report Scope:

• 10 Years Market Numbers
• Historical Data Starting from 2020 to 2023
• Base Year: 2023
• Forecast Data until 2030
• Key Performance Indicators Impacting the Market
• Major Upcoming Developments and Projects

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Vietnam Asphalt Market Overview

3.1 Vietnam Asphalt Market Revenues & Volume, 2020-2030F

3.2 Vietnam Asphalt Market - Industry Life Cycle

3.3 Vietnam Asphalt Market - Porter's Five Forces

4. Vietnam Asphalt Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5. Vietnam Asphalt Market Trends

6. Vietnam Asphalt Market Overview, By Type

6.1 Vietnam Asphalt Market Revenue Share and Revenues, By Type, (2023 and 2030F)

6.1.1 Vietnam Asphalt Market Revenues, By Hot Mix Asphalt (2020-2030F)

6.1.2 Vietnam Asphalt Market Revenues, By Cold Mix Asphalt (2020-2030F)

6.1.3 Vietnam Asphalt Market Revenues, By Warm Mix Asphalt (2020-2030F)

6.1.4 Vietnam Asphalt Market Revenues, By Cutback Asphalt (2020-2030F)

6.1.5 Vietnam Asphalt Market Revenues, By Asphalt Emulsion (2020-2030F)

7. Vietnam Asphalt Market Overview, By Application

7.1 Vietnam Asphalt Market Revenue Share and Revenues, By Application (2023 and 2030F)

7.1.1 Vietnam Asphalt Market Revenues, By Paving (2020-2030F)

7.1.2 Vietnam Asphalt Market Revenues, By Roofing (2020-2030F)

7.1.3 Vietnam Asphalt Market Revenues, By Waterproofing (2020-2030F)

7.1.4 Vietnam Asphalt Market Revenues, By Others (2020-2030F)

8. Vietnam Asphalt Market Import Trade Statistics

9. Vietnam Asphalt Market Key Performance Indicator

10. Vietnam Asphalt Market Opportunity Assessment

10.1 Vietnam Asphalt Market Opportunity Assessment, By Type, 2030F

10.2 Vietnam Asphalt Market Opportunity Assessment, By Application, 2030F

11. Vietnam Asphalt Market - Competitive Landscape

11.1 Vietnam Asphalt Market Revenue Share, By Companies, 2023

11.2 Vietnam Asphalt Market Competitive Benchmarking, By Technical Parameter

11.3 Vietnam Asphalt Market Competitive Benchmarking, By Operating Parameter

12. Company Profiles

• Binh Duong ACC Investment and Construction Joint Stock Company
• Asphalt Distribution Co. Ltd
• HTK Transport Construction Material Company Limited
• BMT Investment Construction JSC
• Le Phan Construction Company
• Tan Loc Bridge And Road Construction Company Limited
• Cuong Thuan Idico Investment And Development Joint Stock Company
• Petrolimex Asphalt Company Limited
• Northern Traffic Equipment and Materials Supply Joint Stock Company
• International Investment Construction and Trading Corporation

13. Key Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/rprdj4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250217040201/en/