Vietnam’s coke and semi-coke import market is forecast to grow at a compound annual growth rate (CAGR) of 7.8 percent, reaching US$536.7 million by 2033, up from US$273 million in 2024, according to a report from Research and Markets. This growth is driven by the nation’s rapidly expanding steel industry and increasing industrialisation.
Semi-coke, known for its lower density and volatile matter, is widely used as fuel in power stations or in gas production. The global coke market is heavily influenced by fluctuations in steel demand and energy market conditions, and Vietnam’s growth trajectory aligns with the global trend. The report highlights that Vietnam’s domestic coke production faces significant challenges due to a lack of high-quality coking coal and advanced production technology, making the country heavily reliant on imports to meet its industrial needs.
Key exporters of coke and semi-coke, such as China, India, Russia, and Australia, dominate the supply chain due to their rich coal resources and established production capabilities. While Vietnam possesses coal reserves, the quality of its coking coal is insufficient to meet the stringent requirements of the steel industry, particularly for high-quality metallurgical coke essential for blast furnace use.
The report underscores Vietnam’s dependency on imports as its steel industry rapidly grows, fueled by economic development, infrastructure expansion, and increasing industrialisation. These factors are expected to continue driving demand for coke and semi-coke, making Vietnam an attractive market for global suppliers in the coming years.
See also: Coal in Vietnam: Industry Overview