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.
The slight monthly increase reflects stable demand for chemical products in industrial applications, while the year-on-year decline could indicate temporary issues such as supply chain disruptions or changes in global demand. The strong year-to-date growth, however, underscores the resilience of Vietnam’s chemical industry.
Vietnam’s chemical sector is an essential part of the economy, supplying key materials for industries such as agriculture, textiles, and manufacturing. The industry continues to benefit from technological advancements and increasing investments in capacity expansion and sustainability initiatives.
The robust annual growth highlights the sector’s importance in Vietnam’s industrial landscape, with opportunities for further expansion in domestic and export markets.
See also: Chemical Industry in Vietnam