VIETNAM - POTENTIAL MARKET FOR IMPORTING COAL AND GYPSUM
Coal import in the first 5 months of 2020 is still growing "rapidly", reaching 24.6 million tons, worth $ 1,844 billion, up 48% in volume, and 14.5% in value over the same period. This shows a significant increase in coal importing in Vietnam.
Coal, gypsum, and applications in constructing and manufacturing.
Coal is something that we might have come across at least once in our lifetime. It is a common substance used in many homes and even in big industries. Coal is basically a combustible sedimentary rock usually occurring in parts known as coal beds or coal seams. It is usually black or brownish-black in color and generally takes millions of years to form and has been classified as a nonrenewable energy source.
Gypsum, also known as calcium sulfate hydrate, is a naturally occurring mineral found in layers of sedimentary rock all over the world. It is formed by the evaporation and replenishment of waters containing calcium and sulfates.
Coal and gypsum both have important applications in construction and architecture. Moreover, they both play an important role in cement production. Raw material selection is therefore very important to create high quality cement products. Minh Hanh Global is one of the biggest local importers that has partnerships with various providers worldwide.
The great potential of the Vietnamese market
Despite the negative effects of the Covid 19 epidemic, the amount of coal imported to Vietnam still surprisingly surged. Specifically, according to the General Department of Customs, the amount of coal imported to Vietnam in the first 7 months of 2020, was about 36.5 million tons with a value of about $ 2.6 billion, increased by approximately 50% over the same period in 2019.
Meanwhile, gypsum products also recorded a huge demand from the domestic market. According to 2018 statistics, the current domestic production capacity can only meet 30% of the market demand. With a population of more than 90 million people but the consumption per capita of gypsum is relatively low, this further confirms the possibility of a strong market boom in the near future.
In Vietnam, the infrastructure system must continue to develop to suit the needs of society for construction investment and the positive recovery of the real estate market. Therefore, the demand for coal and gypsum of the domestic market is forecasted to continue to increase in the coming time.
Understanding the market’s demand, Minh Hanh Global has cooperated with international suppliers to distribute the best quality products to customers, as well as affirming our reputation in the international market.
Minh Hanh Global is expanding international partnerships.
In order to expand the business market and strengthen international cooperation, Minh Hanh Global has constantly sought and selected the leading partners in coal and plaster export worldwide, in order to bring the best products and service for the domestic market.
With the great potential of the domestic market and the growing demand of the local construction industry, this will be an opportunity for big businesses to build their brands and dominate the market. Coal and gypsum are not only important to construction and architecture, but they also play important roles in many other industries. Along with the rapid growth in demand for housing and infrastructure construction, coal and gypsum will become important products in the coming years.
With more than 10 years of experience in the field of manufacturing, supplying, and exporting building materials in Vietnam in particular and internationally in general, Minh Hanh Global knows the Vietnamese market and its preference well, so we can apply our experience on importing coal and gypsum for domestic consumption. We provide the most reliable and competitive supply to our clients. Our coal team is adopting an integrated commercial strategy that manages risk across all business activities. Our main revenue delivered under long term contracts with end users. Solid partnerships with various suppliers around the world allow us to offer the best products at the most reasonable price.
Minh Hanh Global always welcomes foreign partners who willing to cooperate with us for sustainable growth in Vietnam.