Vietnam’s chemical industry is a cornerstone of the nation’s industrial landscape, supporting diverse sectors such as agriculture, manufacturing, and consumer goods. In 2025, the industry continues to grow, fuelled by increasing domestic demand and integration into global value chains. Key segments include petrochemicals, fertilisers, basic chemicals, and specialty chemicals, all playing a vital role in driving economic activity and industrialisation.
Despite its progress, however, the sector faces challenges like a reliance on imported raw materials, high production costs, and regulatory complexities. However, Vietnam’s strategic geographical position, improving industrial infrastructure, and government support through favourable policies and incentives present significant growth opportunities. As the industry evolves, it is set to contribute more substantially to the national economy and international trade.
Chemical manufacturing in Vietnam in numbers
Vietnam’s chemical manufacturing sector is a vital component of its industrial landscape, contributing significantly to the national economy.
Vietnam’s contribution to chemical production
The value added in Vietnam’s chemicals market is projected to reach US$3.8 billion in 2024, reflecting the industry’s growing contribution to the national economy. Over the period from 2024 to 2029, the market is expected to achieve a compound annual growth rate of 3.32 percent, according to data collated by Statista.
Vietnam chemical production
Vietnam’s production of chemicals and chemical products increased slightly by 0.5 percent in December compared to November, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector experienced a decline of 3.2 percent in December 2024 compared to December 2023. However, cumulative production for the full year of 2024 grew by 11.9 percent compared to 2023, reflecting solid overall annual growth despite fluctuations.
Vietnam’s chemical imports and exports
Vietnam’s chemical industry plays a pivotal role in its economy, marked by substantial import and export activities.
Vietnam chemical imports, 2024 vs 2023, US$
| 2024 | 2023 | Change | |
| Total | 8,286,275,483 | 7,726,511,386 | 7.24% |
| Other | 176,637,898 | 125,746,524 | 40.47% |
| China | 3,422,474,906 | 2,932,864,800 | 16.69% |
| USA | 637,544,790 | 683,310,258 | -6.70% |
| Taiwan | 584,127,637 | 618,843,806 | -5.61% |
| Malaysia | 544,942,724 | 454,386,865 | 19.93% |
| Japan | 516,922,751 | 538,985,139 | -4.09% |
| South Korea | 507,199,448 | 465,520,020 | 8.95% |
| Germany | 396,524,721 | 471,469,999 | -15.90% |
| Thailand | 379,305,015 | 403,089,332 | -5.90% |
| Singapore | 282,178,204 | 245,159,929 | 15.10% |
| India | 251,896,571 | 278,739,156 | -9.63% |
| Saudi Arabia | 154,859,730 | 171,285,168 | -9.59% |
| Indonesia | 141,513,304 | 123,685,395 | 14.41% |
| Russia | 102,046,539 | 52,768,526 | 93.39% |
| Brunei Darussalam | 30,829,674 | 16,381,494 | 88.20% |
| Turkey | 24,868,345 | 25,281,784 | -1.64% |
| Italy | 23,916,932 | 28,494,322 | -16.06% |
| France | 17,610,212 | 18,382,426 | -4.20% |
| Belgium | 13,802,454 | 7,944,976 | 73.73% |
| Switzerland | 12,943,177 | 10,387,426 | 24.60% |
| Bangladesh | 11,981,759 | 11,287,803 | 6.15% |
| Netherlands | 9,089,749 | 6,877,892 | 32.16% |
| Qatar | 9,042,074 | 1,645,297 | 449.57% |
| Spain | 8,314,624 | 7,374,824 | 12.74% |
| Austria | 7,298,614 | 9,189,300 | -20.57% |
| Czech Republic | 4,313,783 | 3,193,078 | 35.10% |
| Brazil | 4,012,057 | 3,916,513 | 2.44% |
| UK | 3,952,520 | 3,878,488 | 1.91% |
| South Africa | 2,859,705 | 2,423,128 | 18.02% |
| HongKong | 2,180,678 | 2,752,056 | -20.76% |
| Australia | 990,567 | 1,112,282 | -10.94% |
| Kazakhstan | 94,321 | 133,380 | -29.28% |
Vietnam chemical imports by month
| 2024 | 2025 | ||
| October | January | April | July |
| November | February | May | August |
| December | March | June | September |
Source: Vietnam Imports Tracker
Vietnam chemical exports, 2024 vs 2023, US$
| 2024 | 2023 | Change | |
| Total | 2,767,097,839 | 2,419,399,341 | 14.37% |
| Other | 282,343,796 | 381,911,476 | -26.07% |
| China | 748,545,313 | 471,295,928 | 58.83% |
| Japan | 381,985,075 | 360,723,748 | 5.89% |
| Indonesia | 359,055,683 | 148,065,794 | 142.50% |
| India | 328,005,709 | 393,980,691 | -16.75% |
| Malaysia | 147,219,721 | 57,173,680 | 157.50% |
| South Korea | 133,385,521 | 156,998,227 | -15.04% |
| Taiwan | 98,279,329 | 149,306,041 | -34.18% |
| Thailand | 68,253,008 | 73,296,454 | -6.88% |
| USA | 62,343,192 | 60,998,645 | 2.20% |
| Cambodia | 50,039,396 | 44,233,184 | 13.13% |
| Netherlands | 39,488,494 | 45,910,075 | -13.99% |
| Italy | 25,974,770 | 17,245,467 | 50.62% |
| Canada | 17,165,232 | 26,448,370 | -35.10% |
| Philippines | 15,395,943 | 20,368,730 | -24.41% |
| Myanmar | 9,617,657 | 11,442,831 | -15.95% |
Vietnam chemical exports by month
| 2024 | 2025 | ||
| October | January | April | July |
| November | February | May | August |
| December | March | June | September |
Source: Vietnam Exports Tracker
Domestic chemical manufacturers in Vietnam
Vietnam’s chemical industry comprises a mix of state-owned enterprises and private companies, each contributing significantly to the market. Notable domestic chemical firms include:
Vietnam National Chemical Group (Vinachem)
As the largest chemical company in Vietnam, Vinachem operates across various segments, including fertilizers, basic chemicals, and petrochemicals. The group has demonstrated strong financial performance, with annual revenue exceeding $1 billion.
Duc Giang Chemicals Group Joint Stock Company (DGC)
Founded in 1963, DGC is renowned for its phosphate products and washing powder. The company has transitioned from a state-owned enterprise to a successful private entity, generating substantial profits and aiming to produce phosphate compounds for the pharmaceutical sector.
Lam Thao Fertilizers and Chemicals Joint Stock Company
Specializing in fertilizers and chemicals, this company plays a vital role in supporting Vietnam’s agricultural sector. It is recognized among the top chemical manufacturers in the country.
South Basic Chemicals Joint Stock Company
Engaged in the production of basic chemicals, this company serves various industries, including textiles, paper, and detergents. It is listed among the leading chemical companies in Vietnam.
Viet Tri Chemical Joint Stock Company
Operating in the chemical manufacturing sector, this company contributes to the production of essential chemicals for industrial applications. It is recognized as one of the top chemical companies in the country.
These firms exemplify the diversity and strength of Vietnam’s chemical industry, which continues to evolve and expand, contributing significantly to the nation’s economic development.
Foreign chemical manufacturers in Vietnam
Vietnam’s chemical industry has attracted significant foreign investment, with numerous international companies establishing operations to leverage the country’s strategic location and growing market. Notable foreign chemical manufacturers in Vietnam include:
Evonik Industries
Evonik, a leading German specialty chemicals company, established a presence in Vietnam in 1997. As one of the first foreign chemical companies to set up a legal entity in the country, Evonik offers a variety of solutions, specialized technologies, and services tailored to the Vietnamese market.
Formosa Plastics Group
Taiwan’s Formosa Plastics Group has a significant presence in Vietnam, particularly through its subsidiary, Formosa Ha Tinh Steel Corporation. The company operates a large-scale petrochemical complex in Ha Tinh province, producing various chemical products, including polyester, PVC film, and polyurethane rubber.
BASF
BASF, a German multinational chemical company, operates in Vietnam, focusing on construction chemicals. The company provides solutions that cater to the local construction industry’s needs, contributing to the development of sustainable infrastructure.
Dow Chemical
The American multinational corporation Dow Chemical has established operations in Vietnam, producing acrylic-based polymers. These products serve various industries, including packaging, textiles, and construction, supporting the country’s industrial growth.
Shin-Etsu Chemical
Japan’s Shin-Etsu Chemical has invested in Vietnam, focusing on the production of rare-earth magnets. These components are essential in various high-tech applications, including electronics and automotive industries, aligning with Vietnam’s technological advancement goals.
These foreign investments have significantly contributed to the growth and diversification of Vietnam’s chemical industry, bringing advanced technologies and practices that enhance the sector’s competitiveness in the global market.
Vietnam’s main chemical products
Vietnam’s chemical industry produces a wide range of products that cater to domestic needs and export markets. The key categories include:
Fertilisers
Vietnam is a significant producer of fertilisers, including urea, phosphate, and NPK (Nitrogen, Phosphorus, and Potassium) blends. These products are essential for the country’s large agricultural sector, supporting the cultivation of rice, coffee, and other crops. Major producers include Vinachem and Phu My Fertiliser.
Petrochemicals
The country produces petrochemical products such as polyethylene, polypropylene, and PVC, which are used in packaging, construction, and consumer goods. Vietnam’s expanding petrochemical facilities, including those operated by Binh Son Refining and Petrochemical and Formosa Plastics, play a critical role in meeting domestic and regional demand.
Basic chemicals
These include sulphuric acid, hydrochloric acid, and sodium hydroxide, which are essential for various industrial processes. Vietnam’s basic chemical sector supports industries like textiles, paper, and detergents.
Agrochemicals
Vietnam produces herbicides, pesticides, and fungicides to meet the needs of its agricultural economy. Domestic firms and multinational corporations, such as Bayer and Syngenta, dominate this market.
Specialty chemicals
The specialty chemicals segment is growing, focusing on high-value products for electronics, textiles, and pharmaceuticals. Companies like BASF and Evonik contribute to this sector with products like adhesives, coatings, and performance polymers.
Consumer chemicals
These include detergents, cleaning agents, and personal care products. Domestic brands like My Hao and foreign firms like Unilever and Procter & Gamble are active players in this segment.
Vietnam’s chemical industry continues to diversify, increasingly producing higher-value and environmentally friendly products to align with global trends and meet domestic and international market demands.
What’s next?
Vietnam’s chemical industry is a vital sector supporting agriculture, manufacturing, and consumer goods. It encompasses a broad range of products, including fertilisers, petrochemicals, basic chemicals, agrochemicals, specialty chemicals, and consumer chemicals.
Major players include state-owned enterprises like Vinachem and private firms such as Duc Giang Chemicals, alongside multinational corporations like BASF and Dow Chemical. The industry is growing steadily, driven by domestic demand and export opportunities, with increasing investments in sustainable and high-value chemical production.
Despite challenges like reliance on imported raw materials and regulatory compliance, the sector plays a key role in Vietnam’s industrial and economic development.
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