Vietnam Plastic Market Overview
Vietnam's plastic waste discharge is among the highest in the world, it said, without revealing specific ranking. While more than half (55 percent) of respondents in the country said plastic waste is a serious problem, one third (33 percent) said plastic bottles and food wrap are indispensable in their daily life. Vietnam annually produces 1.8 million tons of plastic waste, but only 27 percent is recycled, the report said. The government has been making increasing efforts to combat the plastic waste epidemic, with Prime Minister Nguyen Xuan Phuc calling for action to achieve zero disposable plastic use in urban shops, markets and supermarkets by 2021 and nationwide by 2025. The report warned that these targets would not be easy due to poor public awareness of the impacts of plastic waste on the environment and low taxes on plastic products. It also said Vietnam is at high risk of becoming the world’s landfill with many countries taking advantage of policy gaps to ship large volumes of plastic waste to the country. The biggest sources of plastic recyclable wastes to Vietnam are Japan, Hong Kong and Thailand, according to environmental organization Greenpeace. So, meanwhile it become even more important for the one to think that how would he/she supposed to recycle it and would use it in better form in context to above line to ensure the limit use of plastics.
Vietnam Plastic Market Dynamics
Widespread Application of Plastics Packaging
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.
Vast Adopted Applications of plastics in electrical and electronics
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.
Stringent Regulations
However, stringent regulations posed by government in associated with harmful effect of plastics on earth is foreseen to act as a restraint in coming years. The government has been making increasing efforts to combat the plastic waste epidemic, with Prime Minister Nguyen Xuan Phuc calling for action to achieve zero disposable plastic use in urban shops, markets and supermarkets by 2021 and nationwide by 2025.
Vietnam Plastic Market Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The global Vietnam plastic market is segmented based on Product Type, Technology, and region.
Based on product type, the Vietnam plastic market is segmented into traditional plastics, engineering plastics, and bio-plastics. Based on technology, the target market is segmented into technology, extruding, injection molding, and others. Based on application, the target market is segmented into packaging, electrical & electronics, building & construction, automotive & transportation, housewares, furniture & bedding, and others.
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Attribute |
Details |
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Base year for estimation |
2019 |
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Forecast period |
2019 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2019 to 2029 |
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Market Segmentation |
By Product Type - Traditional Plastics, Engineering Plastics, and Bio-plastics By Technology – Technology, Extruding, Injection Molding, and Others By Application- Packaging, Electrical & Electronics, Building & Construction, Automotive & Transportation, Housewares, Furniture & Bedding, and Others |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest Type industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global Vietnam plastic market report based on Product Type, Technology, and region:
Vietnam Plastic Market, By Product Type:
- Traditional Plastics
- Engineering Plastics
- Bio-plastics
Vietnam Plastic Market, By Technology:
- Technology
- Extruding
- Injection Molding
- Others
Vietnam Plastic Market, By Application:
- Packaging
- Electrical & Electronics
- Building & Construction
- Automotive & Transportation
- Housewares
- Furniture & Bedding
- Others
Vietnam Plastic Market Key Players
The key players operating 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. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in September 2019, SCG Partners with Dow to Sustainably Tackle Plastic Waste by Developing Recycling and Renewable Solutions to Build the Circular Plastic Economy.
Vietnam Plastic Market Company Profile
- SCG Chemicals Co., Ltd.
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- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
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- Vietnam Oil & Gas Group,
- Nan Ya Plastics Corporation (Formosa)
- AGC Chemicals Vietnam Co. Ltd.
- Vinaplast
“*” marked represents similar segmentation in other categories in the respective section
Vietnam Plastic Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Outlook for Vietnam Plastic Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Vietnam Plastic Market, By Product Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Traditional Plastics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Engineering Plastics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Bio-plastics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Vietnam Plastic Market, By Technology, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Technology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Extruding
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Injection Molding
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Vietnam Plastic Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Packaging
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Electrical & Electronics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Building & Construction
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Automotive & Transportation
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Housewares
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Furniture & Bedding
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- SCG Chemicals Co., Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Vietnam Oil & Gas Group,
- Nan Ya Plastics Corporation (Formosa)
- AGC Chemicals Vietnam Co. Ltd.
- Vinaplast
- SCG Chemicals Co., Ltd.
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global Vietnam plastic market is segmented based on product type, technology, and region.
The market is driven due to widespread application of plastics packaging
Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in September 2019, SCG Partners with Dow to Sustainably Tackle Plastic Waste by Developing Recycling and Renewable Solutions to Build the Circular Plastic Economy.