China's PVC Exports to Vietnam Reached 85% of Last Year's Total in the First 8 Months, Expected to Exceed 300,000 Tons in the Next 3-4 Years

In the dual acceleration phase of consumption and industrial upgrading, the demand for PVC is strong, with construction being the main driving force. Public information indicates that Vietnam's current urbanization rate is only 38%, increasing by 1-2 percentage points annually, resulting in strong demand for housing, consumption, and infrastructure.

Vietnam's domestic PVC self-sufficiency rate is low, with local production capacity only around 200,000 to 250,000 tons, mainly concentrated in two companies, TPC Vina and PMPC. Vietnam's annual PVC demand is expected to exceed 1 million tons, highly dependent on imports. It is anticipated that in the next 3-5 years, downstream industries such as pipes, cables, and materials related to construction and decoration will continue to see rapid growth in PVC demand.

Renowned institutions generally predict that the annual average growth rate of PVC powder demand in Vietnam will remain stable between 5% and 8% in the coming years, reflecting market optimism about Vietnam's economy and medium to long-term development prospects.

It is expected that China's PVC exports to Vietnam will maintain a good pattern in the coming years, with an optimistic estimate of reaching over 300,000 tons by 2029, an increase of approximately 100,000 tons or more compared to current exports.