Vietnam Recycled Plastics Market to Reach 532.4 Kilo Tons by 2032, Bolstered by Growing Environmental Concerns

May 20, 2019 | Packaging

The latest report by IMARC Group, titled “Vietnam Recycled Plastics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” finds that the Vietnam recycled plastics market reached a volume of 270.1 Kilo Tons in 2023. Recycled plastics refer to scrap and waste plastic materials that are processed into useful products. Before they are recycled, the plastic materials undergo various stages, such as sorting, washing, shredding, identification and classification of plastic, and extruding. They are used for producing non-biodegradable products such as footwear, bags, toys, fabrics, and toothbrushes. This aids in reducing the amount of waste disposed of at landfill sites, which lowers the amount of greenhouse gas emissions released from landfills. Consequently, recycled plastics are gaining traction across Vietnam as post-consumer and post-industrial plastics are increasingly accumulate in landfills.

Vietnam Recycled Plastics Market Trends:

The market is primarily driven by the rising environmental concerns and the constant lookout for green solutions. In addition, recycled plastics find utilization in producing lightweight components, which are used across building and construction, automotive, electrical and electronics industries. Nowadays, the increasing prices of conventional plastics are also propelling the demand for recycled plastics. Recycled plastics offer reduced energy consumption and natural resources, and lower labor costs compared to virgin plastics, thereby catalyzing their demand in Vietnam. Moreover, the growing environmental consciousness has resulted in the adoption of sustainable materials. Due to this, the Government of Vietnam has undertaken several initiatives to reduce domestic plastic waste. For instance, Zero Plastic Waste City is a new project that aims to empower local waste pickers and improve waste collection rates. Moreover, the Ministry of Natural Resources and Environment in Vietnam is also providing financial assistance to enterprises that offer plastic recycling, thus facilitating the adoption of recycled plastics in the country. Looking forward, the market volume is expected to reach 532.4 Kilo Tons by 2032, exhibiting a CAGR of 7.6% during the forecast period (2024-2032).

Market Summary:

Based on the material, the market has been segmented into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), and others. Amongst these, PET represents the most popular type.
On the basis of the application, the market has been classified into non-food contact packaging, food contact packaging, construction, household products, and others. Currently, non-food contact packaging represents the largest segment.
Region-wise, Southern Vietnam exhibits a clear dominance in the market.
The competitive landscape of the market has been examined, with some of the key players being Vinh Thanh Corporation, Trinh Nghi Joint Stock Company, Import and Export Joint Stock Company Suwon Vina, Quynh Quyen Hung Yen Trading & Production Company Limited, Trang Yen Plastic Trading Company Limited, Hung Phu Plastic Investment Company Limited, Tran Thanh Phat Company, Tin Thanh Plastic Production - Trading Co. Ltd, Hiep Phat Plastic Trading Manufacturing Co. Ltd. and Thien Phuoc Production & Trading Co. Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	‘000 Tons
Segment Coverage	Material, Application, Region
Region Covered	Southern Vietnam, Northern Vietnam, Central Vietnam
Companies Covered	Vinh Thanh Corporation, Trinh Nghi Joint Stock Company, Import and Export Joint Stock Company Suwon Vina, Quynh Quyen Hung Yen Trading & Production Company Limited, Trang Yen Plastic Trading Company Limited, Hung Phu Plastic Investment Company Limited, Tran Thanh Phat Company, Tin Thanh Plastic Production - Trading Co. Ltd, Hiep Phat Plastic Trading Manufacturing Co. Ltd. and Thien Phuoc Production & Trading Co. Ltd.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Vietnam Recycled Plastics Market to Reach 532.4 Kilo Tons by 2032, Bolstered by Growing Environmental Concerns

Purchase options

Single User License ~~$3699~~ $2899
Five User License ~~$4699~~ $3899
Corporate User License ~~$5699~~ $4899

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.