As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The Vietnam recycled plastics market size reached a volume of about 199,034 tons in 2019. The market is further expected to grow at a CAGR of about 9% in the forecast period of 2020-2025 to reach a volume of about 333,104 tons by 2025.
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:
The regional markets for the product in Vietnam include Southern Vietnam, Northern Vietnam, and Central Vietnam.
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 industry based on the Porter's five forces model along with giving a SWOT analysis.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Vietnam Recycled Plastics Market Snapshot
7 Industry Opportunities and Challenges
8 Vietnam Recycled Plastics Market Analysis
8.1 Key Industry Highlights
8.2 Vietnam Recycled Plastics Historical Market (2015-2019)
8.3 Vietnam Recycled Plastics Market Forecast (2020-2025)
8.4 Vietnam Recycled Plastics Market by Material
8.4.1 Polyethylene Terephthalate (PET)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2015-2019)
22.214.171.124 Forecast Trend (2020-2025)
8.4.2 Polypropylene (PP)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2015-2019)
184.108.40.206 Forecast Trend (2020-2025)
8.4.3 High Density Polyethylene (HDPE)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2015-2019)
22.214.171.124 Forecast Trend (2020-2025)
8.5 Vietnam Recycled Plastics Market by Application
8.5.1 Non-Food Contact Packaging
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2015-2019)
184.108.40.206 Forecast Trend (2020-2025)
8.5.2 Food Contact Packaging
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2015-2019)
22.214.171.124 Forecast Trend (2020-2025)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2015-2019)
184.108.40.206 Forecast Trend (2020-2025)
8.5.4 Household Products
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2015-2019)
22.214.171.124 Forecast Trend (2020-2025)
8.6 Vietnam Recycled Plastics Market by Region
8.6.1 Market Share
9 Regional Analysis
9.1.1 Historical Trend (2015-2019)
9.1.2 Forecast Trend (2020-2025)
9.2.1 Historical Trend (2015-2019)
9.2.2 Forecast Trend (2020-2025)
9.3.1 Historical Trend (2015-2019)
9.3.2 Forecast Trend (2020-2025)
10 Market Dynamics
10.1 SWOT Analysis
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 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
13 Industry Events and Developments
List of Figures and Tables
1. Vietnam Recycled Plastics Market: Key Industry Highlights, 2015 and 2025
2. Vietnam Recycled Plastics Historical Market: Breakup by Material (Thousand Tons), 2015-2019
3. Vietnam Recycled Plastics Market Forecast: Breakup by Material (Thousand Tons), 2020-2025
4. Vietnam Recycled Plastics Historical Market: Breakup by Application (Thousand Tons), 2015-2019
5. Vietnam Recycled Plastics Market Forecast: Breakup by Application (Thousand Tons), 2020-2025
6. Vietnam Recycled Plastics Historical Market: Breakup by Region (Thousand Tons), 2015-2019
7. Vietnam Recycled Plastics Market Forecast: Breakup by Region (Thousand Tons), 2020-2025
8. Vietnam Recycled Plastics Market Structure
In 2019, the market in Vietnam attained a volume of nearly 199, 034 tons.
The industry is projected to grow at a CAGR of 9% between 2020 and 2025.
The market is estimated to witness a healthy growth in the forecast period of 2020-2025 to reach about 333,104 tons by 2025.
The major drivers of the industry, such as the rising environmental concern 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 market trends guiding the growth of the market include growing government initiatives to encourage the use of recycled plastics and rapid technological advancements.
The major regional markets in the industry are Southern, Central, and Northern Vietnam, with Southern Vietnam accounting for the largest share in the industry.
Polyethylene terephthalate (PET), polypropylene (PP), and high density polyethylene (HDPE), among others, are the major material-types of recycled plastics in the regional market.
The significant applications of the product include non-food contact packaging, food contact packaging, construction, and household products, among others.
The Vietnam recycled plastics market attained a volume of 199,034 tons in 2019 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 2020-2025, growing at a CAGR of 9%. The market in Vietnam is projected to reach a volume of nearly 333,104 tons by 2025.
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.
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.