Reports
Vietnam Recycled Plastics Market Share, Trends, Forecast: By Material: Polyethylene Terephthalate (PET), Polypropylene (PP), High Density Polyethylene (HDPE), Others; By Application: Non-Food Contact Packaging, Food Contact Packaging, Construction, Household Products, Others; Regional Analysis; Competitive Landscape; 2024-2032
Vietnam Recycled Plastics Market Outlook
The Vietnam recycled plastics market size reached a volume of about 236472.3 tons in 2023. The market is further expected to grow at a CAGR of about 9% in the forecast period of 2024-2032 to reach a volume of about 395760.86 tons by 2032.
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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.
Properties and Applications
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.
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On the basis of material, the market can be segmented as follows:
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- High Density Polyethylene (HDPE)
- Others
It finds wide applications in the following sectors:
- Non-Food Contact Packaging
- Food Contact Packaging
- Construction
- Household Products
- Others
The regional markets for the product in Vietnam include Southern Vietnam, Northern Vietnam, and Central Vietnam.
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Market Analysis
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Material, Application, Region |
| Breakup by Material | Polyethylene Terephthalate (PET), Polypropylene (PP), High Density Polyethylene (HDPE), Others |
| Breakup by Application | Non-Food Contact Packaging, Food Contact Packaging, Construction, Household Products, Others |
| Breakup by Region | Southern Vietnam, Northern Vietnam, Central Vietnam |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Vietnam Recycled Plastics Market Snapshot
7 Opportunities and Challenges in the Market
8 Vietnam Recycled Plastics Market Analysis
8.1 Key Industry Highlights
8.2 Vietnam Recycled Plastics Historical Market (2018-2023)
8.3 Vietnam Recycled Plastics Market Forecast (2024-2032)
8.4 Vietnam Recycled Plastics Market by Material
8.4.1 Polyethylene Terephthalate (PET)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Polypropylene (PP)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 High Density Polyethylene (HDPE)
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Vietnam Recycled Plastics Market by Application
8.5.1 Non-Food Contact Packaging
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Food Contact Packaging
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Construction
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Household Products
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Vietnam Recycled Plastics Market by Region
8.6.1 Market Share
8.6.1.1 Southern
8.6.1.2 Northern
8.6.1.3 Central
9 Regional Analysis
9.1 Southern
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Northern
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Central
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Vietnam Recycled Plastics Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Recycled Plastics Historical Market: Breakup by Material (Tons), 2018-2023
3. Vietnam Recycled Plastics Market Forecast: Breakup by Material (Tons), 2024-2032
4. Vietnam Recycled Plastics Historical Market: Breakup by Application (Tons), 2018-2023
5. Vietnam Recycled Plastics Market Forecast: Breakup by Application (Tons), 2024-2032
6. Vietnam Recycled Plastics Historical Market: Breakup by Region (Tons), 2018-2023
7. Vietnam Recycled Plastics Market Forecast: Breakup by Region (Tons), 2024-2032
8. Vietnam Recycled Plastics Market Structure
Key Questions Answered in the Report
In 2023, the market in Vietnam attained a volume of nearly 236472.3 tons.
The market is projected to grow at a CAGR of 9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around 395760.86 tons by 2032.
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.
Analyst Review
The Vietnam recycled plastics market attained a volume of 236472.3 tons in 2023, driven by the growing demand for recycled plastics from packaging and automotive industries in the region. Aided by the technological advancements and rising government initiatives towards sustainable product development, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9%. The market in Vietnam is projected to reach a volume of nearly 395760.86 tons by 2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its materials, the industry can be segmented into polyethylene terephthalate (PET), polypropylene (PP), and high density polyethylene (HDPE), among others. On the basis of applications, the industry is divided into non-food contact packaging, food contact packaging, construction, and household products, among others. The major regional markets for the recycled plastics industry in Vietnam include Southern, Central, and Northern Vietnam, with Southern Vietnam accounting for the largest share of the market.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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