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Vietnam Recycled Plastics Market

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 257754.81 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 558648.75 tons by 2032.

 

Vietnam Recycled Plastics Market

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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.

 

Vietnam Recycled Plastics Market By Application

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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.

 

Vietnam Recycled Plastics Market By Region

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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 
  • Northern
  • Central 
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Polypropylene (PP)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    High Density Polyethylene (HDPE)
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    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    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Food Contact Packaging
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Construction
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Household Products
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others
    8.6    Vietnam Recycled Plastics Market by Region
        8.6.1    Southern
        8.6.2    Northern
        8.6.3    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 257754.81 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 558648.75 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 257754.81 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 558648.75 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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