Vietnam Plastic Recycling Market Size, Share, Growth, Outlook, Analysis and Forecast, 2027 | TechSci Research
According to TechSci report on, “Vietnam Plastic Recycling Market - By Region, Competition Forecast & Opportunities, 2027” Vietnam plastic recycling market may grow with a CAGR of 7.5% during the forecast period, 2023-2027, on the account of surging demand for plastic free environment. Higher demands for plastics and growing use of disposable products made of plastic is driving the demands for plastic recycling and thus the growth of the Vietnam plastic recycling market in the upcoming five years. The population in the country is highly inclined toward use of single-use plastics, and their lack of concerns toward environment has by far accumulated large volumes of plastic waste in the landfills and ocean shores. Growing demands for cleaning the ocean waters and getting rid of plastic waste is further supporting the growth of the Vietnam plastic recycling market in the next five years. The government is further investing and working toward better national plastic waste management programs that would promote the plastic recycling in the future and aid the growth of the Vietnam plastic recycling market in the future five years. Growing urbanization, inclination of the population toward lavish lifestyle, and rising disposable income of the population is also substantiating the growth of the Vietnam plastic recycling market in the forecast years through 2027.
Though, Vietnam plastic recycling industry has wide scope for future growth, careless approach of the waste collection sector, and consumer’s failure to invest in recycling of the plastic may drastically affect the growth of the Vietnam plastic recycling market. The government is approaching the issues with much aggressive tactics where plastic waste disposals untreated or if not recycled must not be cheap and could be fined. Enforcement of laws against careless disposals would also aid in creating higher awareness regarding plastic recycling and further aid the growth of the Vietnam plastic recycling market in the forecast period.
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The Vietnam plastic recycling market is segmented by type, source, method, end user, competitional landscape, and regional distribution. Based on type, the market is further segmented into polyethylene terephthalate (PET), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) and others. Polyethylene terephthalate (PET) is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of increasing demands for the recycled polyethylene terephthalate (RPET) in the recent years. Increasing market players involved in the business along with the government’s aids also aid the growth of the market. Moreover, rapid industrialization and growing numerous recycling programs in the country is also expected to support the growth of the Vietnam plastic recycling market in the next five years.
By source, the market is fragmented into bottles, films, fibers, foams and others. Bottles are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of stable network of collection of used plastic bottles and supply to the recycling units. Moreover, most bottles are made of PET resin, which is the most recycled resin with the highest recycling rate. Based on method, the market is bifurcated between thermal, chemical, mechanical, and landfill. By end user, the market is sub-segmented into packaging, building & construction, textile, automotive, electrical & electronics and others.
A partial list of major market players of the Vietnam plastic recycling market includes:
- Thang Long Talimax
- Cong Ty Co Phan Cap Nhua Vinh Khanh
- Cong Ty Tnhh Thuong Mai Nhua Hop Thuan
- BASF Vietnam Limited
- Veolia Vietnam Private Limited
- SEUZ Vietnam
- Tin Thanh Plastic Manufacturing
- VItaMat Jsc
- IAV Global Limited Co.
- Co So Nhura Chi Hien
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“Packaging end user may dominate the market segment and hold largest revenue shares of the market in the upcoming five years on grounds of increasing demands for the recycled polyethylene terephthalate. The market is growing with the increasing numbers of family-owned small scale recyclers. The market is highly fragmented with more than 300 players operating in the market. With financial aids from the government and favorable schemes the market would further grow in the future years. Strict regulations, and rules along with monetization of untreated plastic disposals would also aid the growth of the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Plastic Recycling Market By Type (Polyethylene Terephthalate (PET), Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS) and Others), By Source (Bottles, Films, Fibers, Foams and Others), By Method (Thermal, Chemical, Mechanical, Landfill), By End User (Packaging, Building & Construction, Textile, Automotive, Electrical & Electronics and Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam plastic recycling market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam plastic recycling market.
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