Current construction projects in Vietnam are focusing on and prioritizing the use of 'advanced materials' to improve performance, quality, and sustainability. However, the application of these materials still faces certain limitations and challenges. This study discusses the research of some typical advanced materials such as High-performance concrete, Polymer composites, and Lightweight materials. Then, a SWOT discussion was presented to evaluate the 'strengths', 'weaknesses', 'opportunities', and 'threats' from government, businesses, and scientific materials research development perspectives. Despite strengths such as growing construction demand, abundant resources, and government support, the industry faces numerous challenges. Weaknesses include limited research capacity, high production costs, and lack of stringent standards. Nevertheless, opportunities arise from sustainable construction demands, international collaboration, and emerging green transition trends. Conversely, the industry currently faces threats such as competition from traditional materials, a shortage of highly skilled technical workforce, and limited awareness of advanced materials' benefits. This study contributes to filling the knowledge gap in the context of strategic planning and indicates significant implications for managers, potentially enhancing their strategic decision-making in Vietnam.