The Vietnam recycled plastics market size reached a volume of about 257754.81 Tons in 2024. The market is further expected to grow at a CAGR of about 9.00% in the forecast period of 2025-2034 to reach a volume of about 610199.38 Tons by 2034.
Base Year
Historical Period
Forecast Period
Value in Tons
2025-2034
Vietnam Recycled Plastics Market Outlook
*this image is indicative*
Southern Vietnam is the leading market, accounting for the majority of the total Vietnam recycled plastics market. This can be accredited to the robust plastic waste collection rate in the region, which is the highest in the country. The Vietnamese government is introducing legislation to promote and control plastic recycling. It is also undertaking measures to encourage the recycling of plastics in the region. For example, Vietnam's Ministry of Natural Resources and the Environment provides financial support for companies involved in the plastics recycling industry by providing easy access to low (2.6-3.6 percent per year) financing with a maximum lending rate of around 70% of the overall investment in the Environment Protection Fund project.
Recycling plastics decrease waste disposal at landfill sites and minimises emissions of greenhouse gases. It requires post-consumer or post-industrial plastics reprocessing. This method involves sorting, cleaning, shredding, product detection, as well as classification and extrusion. A large proportion of the product is also used in the manufacture of toys, bags, clothes, footwear, and toothbrushes.
On the basis of material, the market can be segmented as follows:
It finds wide applications in the following sectors:
On the basis of region, the market can be segmented as follows:
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The rising traditional plastics prices and increasing environmental issues are the key drivers for the growth of the Vietnam recycled plastics market. Recycling plastics eliminates the need for the energy and natural resources required for the manufacturing of virgin plastic. The shift towards sustainability, thus, raises the demand for recycled plastics. In addition, the increased local demand, as well as lower labour costs, have propelled the growth of the market further. The industry is experiencing growth because consumers are increasingly seeking out recycled over virgin plastics because of the extreme contamination from the disposal of used plastics in oceans and the shortage of landfills. Determinants such as the increased use of recycled plastics in the packaging and automotive sectors and various successful measures to encourage the use of the product are providing lucrative opportunities for the development of the Vietnam recycled plastics market. However, intense competition in terms of output with virgin plastics acts as a significant factor restricting the market development.
The report gives a detailed analysis of the major key players in the market in Vietnam, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the market in Vietnam attained a volume of nearly 257754.81 Tons.
The market is projected to grow at a CAGR of 9.00% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach around 610199.38 Tons by 2034.
The major drivers of the market are rising environmental concerns and growing adoption of recycled plastics in the domestic market for various applications, including packaging and automotive, are expected to aid the market growth.
The key trends guiding the growth of the market include growing government initiatives to encourage the use of recycled plastics and rapid technological advancements.
The major regions in the market for recycled plastics in Vietnam are Southern, Central, and Northern.
Polyethylene terephthalate (PET), polypropylene (PP), and high density polyethylene (HDPE), among others, are the major materials in the Vietnam recycled plastics market.
The significant applications of recycled plastics in Vietnam include non-food contact packaging, food contact packaging, construction, and household products, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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India
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+91-723-689-1189
Philippines
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+63-287-899-028, +63-967-048-3306
United Kingdom
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+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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