Vietnam Plastic Market focusing to reuse plastic and to develop in better form

Published Date: June 2024

The report "Vietnam Plastic Market, By Product Type (Traditional Plastics, Engineering Plastics, and Bio-plastics), By Technology (Technology, Extruding, Injection Molding, and Others), and By Application (Packaging, Electrical & Electronics, Building  & Construction, Automotive & Transportation, Housewares, Furniture & Bedding, and Others)- Trends, Analysis and Forecast till 2030”.

Key Highlights:

  • In October 2019, SCG Showcases Plastic Innovation for Sustainability at 2019 in Germany’s Dusseldorf Chemicals Business, SCG, has aggressively accelerated its research and development to develop products fit for the Circular Economy principles, and unveiled special-grade plastic that can maximize the proportion of recyclable plastics while maintaining its excellent functional properties and minimizing plastic and resource usage.
  • In February 2020, AGC Chemicals Vietnam Mitchell Plastics investing USD 22 million to expand in Querétaro, Mexico.

Analyst View:

Increase growth of factory in turn increase demand of plastics packaging is added tremendous growth to market. Plastics have distinct characteristics depending on the type, however, most plastics tend to possess general attributes such as resistivity to chemicals & corrosion, thermal resistivity, being lightweight while portraying various degrees of strength, lower in cost, easy to handle, and it is also available in various colors. Such factors make plastics the best option for packaging purposes for the Vietnam market; also making plastic packaging the largest application of plastics in Vietnam. New innovations and continuous development of smaller circuit boards and components are taking place almost every day, and the demand for high-performance plastics is increasing, owing to the property of plastics to withstand stress in assembling operations. Plastics help in increasing the functionality of the circuit in use, while also contributing to the decreasing size of the circuit.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Vietnam Plastic Market, By Product Type (Traditional Plastics, Engineering Plastics, and Bio-plastics), By Technology (Technology, Extruding, Injection Molding, and Others), and By Application (Packaging, Electrical & Electronics, Building  & Construction, Automotive & Transportation, Housewares, Furniture & Bedding, and Others) - Trends, Analysis and Forecast till 2030”.

Key Market Insights from the report:        

The Vietnam plastic market is projected to lead the market with a moderate CAGR over the forecast period. The market report has been segmented on the basis of product type, technology, and application.

  • Based on product type, the Vietnam plastic market is segmented into traditional plastics, engineering plastics, and bio-plastics.
  • Based on technology, injection molding is projected to dominate the market over the forecast period. High-performance plastic pallets are usually injection molded. Injection molding is a relatively capital-consuming process, but offers the advantage of high-speed processes. Therefore, injection molding is found to be beneficial in the bulk production of plastic pallets. Injection molding processes are used in wire spools, packaging, bottle caps, automotive dashboards, pocket combs, etc.
  • Based on application, electronics is projected to dominate the market over forecast period. The country has also witnessed a fair share growth in other electronics items, including refrigerators, other display products, and various electrical appliances. The Vietnamese electronics sector is attracting several opportunities from the foreign markets, which is boosting the growth of the electronics market, thus fuelling the demand for plastics in the country.

Competitive Landscape:

The prominent player operating in the Vietnam Plastic market includes SCG Chemicals Co., Ltd., Vietnam Oil & Gas Group, Nan Ya Plastics Corporation (Formosa), AGC Chemicals Vietnam Co. Ltd, and Vinaplast.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period.

Key Topics Covered

  1. Introduction
  • Study Deliverables
  • Study Assumptions
  • Scope of the Study
  1. Research Methodology
  2. Executive Summary
  • Opportunity Map Analysis
  • Market at Glance
  • Market Share (%) and BPS Analysis, by Region
  • Competitive Landscape
  • Heat Map Analysis 
  • Market Presence and Specificity Analysis
  1. Investment Analysis
  2. Competitive Analysis

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