Vietnam's plastics industry is not just growing; it's exploding, with production capacity hitting 11.5 million tons in 2023 and the sector contributing a formidable USD 10 billion to the national economy.
Key Takeaways
- Vietnam's plastics production capacity reached 11.5 million tons per year in 2023
- Polyethylene (PE) accounted for 45% of Vietnam's total plastic resin production in 2022 with 4.2 million tons produced
- Polypropylene (PP) production in Vietnam grew by 12% year-on-year to 2.8 million tons in 2023
- Vietnam plastics market size valued at USD 12.5 billion in 2023
- Plastics industry contributed 2.1% to Vietnam's GDP in 2023
- CAGR of Vietnam plastics market projected at 9.8% from 2024-2029
- Vietnam plastic exports value reached USD 5.2 billion in 2023
- Plastic exports volume from Vietnam was 2.8 million tons in 2023, up 16% YoY
- Vietnam ranked 5th in ASEAN for plastic exports in 2023 with 12% regional share
- Vietnam total plastic consumption 8.5 million tons in 2023
- Packaging plastics consumption 4.2 million tons 49% of total in Vietnam 2023
- Construction sector plastic use 1.8 million tons in Vietnam 2023
- Investments in Vietnam plastics reached USD 2.5 billion in 2023
- Plastic waste generated in Vietnam 3.1 million tons in 2023
- Recycling rate of plastics in Vietnam improved to 32% in 2023 from 27% 2022
Vietnam's plastics industry expanded significantly in 2023, with strong production and export growth.
Consumption
1Vietnam total plastic consumption 8.5 million tons in 2023
Verified2Packaging plastics consumption 4.2 million tons 49% of total in Vietnam 2023
Verified3Construction sector plastic use 1.8 million tons in Vietnam 2023
Verified4PE consumption in Vietnam 3.8 million tons 2023
Directional5PP consumption grew to 2.5 million tons in Vietnam 2023
Single source6PVC consumption 2.1 million tons for pipes/wires Vietnam 2023
Verified7PET for bottles consumption 1.0 million tons Vietnam 2023
Verified8Per capita plastics use in packaging 22 kg in Vietnam 2023
Verified9Food packaging plastic demand 2.9 million tons Vietnam 2023
Directional10Electronics plastics consumption 850,000 tons Vietnam 2023
Single source11Automotive parts plastics 650,000 tons used in Vietnam 2023
Verified12Household plastics consumption 1.2 million tons Vietnam 2023
Verified13Plastic bags consumption reduced 15% due to regulations to 1.5 million tons Vietnam 2023
Verified14Recycled plastics consumption grew 25% to 650,000 tons Vietnam 2023
Directional15Agricultural films plastic use 450,000 tons Vietnam 2023
Single source16Medical disposables plastics 250,000 tons consumed Vietnam 2023
Verified17Footwear manufacturing plastics 950,000 tons Vietnam 2023
Verified18Furniture plastics consumption 300,000 tons Vietnam 2023
Verified19Toys and sports goods plastics 200,000 tons Vietnam 2023
Directional20Beverage sector PET/HDPE use 750,000 tons Vietnam 2023
Single source21E-commerce packaging plastics up 30% to 800,000 tons Vietnam 2023
Verified22Construction pipes PVC/HDPE 1.1 million tons Vietnam 2023
Verified23Electrical cables insulation plastics 400,000 tons Vietnam 2023
Verified24Single-use plastics consumption down 12% to 1.8 million tons Vietnam 2023
DirectionalConsumption Interpretation
While Vietnam's 8.5-million-ton plastic appetite proves its economy is robustly wrapped, glued, and piped together, the 15% drop in bags, 12% drop in single-use items, and 25% growth in recycled material show the nation is now seriously trying to take out its own trash.
Market
1Vietnam plastics market size valued at USD 12.5 billion in 2023
Verified2Plastics industry contributed 2.1% to Vietnam's GDP in 2023
Verified3CAGR of Vietnam plastics market projected at 9.8% from 2024-2029
Verified4Packaging segment held 42% share of Vietnam plastics market in 2023
Directional5Construction plastics market in Vietnam grew 13% YoY to USD 2.8 billion in 2023
Single source6Automotive plastics demand in Vietnam reached USD 1.2 billion in 2023
Verified7Electrical & electronics plastics market size USD 1.5 billion in Vietnam 2023
Verified8Average plastic resin price in Vietnam was USD 1,200/ton in 2023
Verified9Vietnam plastics industry revenue growth 14.5% in 2023
Directional10Per capita plastic consumption in Vietnam rose to 48 kg in 2023 from 42 kg in 2022
Single source11Domestic demand for plastics in Vietnam projected to reach 10 million tons by 2025
Verified12FDI in Vietnam plastics sector totaled USD 1.8 billion in 2023
Verified13Plastics recycling market in Vietnam valued at USD 450 million in 2023
Verified14E-commerce driven plastic packaging market growth 18% in Vietnam 2023
Directional15Vietnam's plastics import dependency reduced to 35% in 2023 from 42% in 2020
Single source16Top 10 plastics firms in Vietnam generated 65% of industry revenue in 2023
Verified17Inflation impact on plastics prices in Vietnam averaged 6.2% in 2023
Verified18Vietnam plastics market volume 9.2 million tons in 2023
Verified19Beverage packaging plastics demand up 22% in Vietnam 2023 due to FMCG growth
Directional20Medical plastics market in Vietnam reached USD 650 million in 2023
Single source21Footwear industry plastics consumption 1.1 million tons in Vietnam 2023
Verified22Household appliances plastics demand USD 800 million Vietnam 2023
Verified23Vietnam plastics price index increased 11.3% in Q4 2023
Verified24Number of plastic products traded domestically exceeded 500 types in 2023 Vietnam
DirectionalMarket Interpretation
Vietnam’s plastics industry, now a $12.5 billion behemoth, is shaping everything from the packaging of your impulsive online orders to the very homes and cars you use, all while trying to stitch together a less import-dependent and more recyclable future from a dizzying 500 types of products.
Production
1Vietnam's plastics production capacity reached 11.5 million tons per year in 2023
Verified2Polyethylene (PE) accounted for 45% of Vietnam's total plastic resin production in 2022 with 4.2 million tons produced
Verified3Polypropylene (PP) production in Vietnam grew by 12% year-on-year to 2.8 million tons in 2023
Verified4PVC resin output in Vietnam was 1.9 million tons in 2022, representing 20% of total plastics production
Directional5PET production capacity in Vietnam expanded to 1.2 million tons annually by end-2023 due to new BOPET lines
Single source6Plastic packaging production in Vietnam hit 5.6 million tons in 2023, up 8% from 2022
Verified7Injection molding capacity for plastics in Vietnam reached 3.4 million tons/year in 2023 across 1,200 factories
Verified8Blow molding output for plastic bottles in Vietnam was 1.1 million tons in 2022
Verified9Extrusion production of plastic films in Vietnam totaled 2.3 million tons in 2023
Directional10Number of plastics manufacturing enterprises in Vietnam increased to 3,500 in 2023 from 3,200 in 2022
Single source11Vietnam's plastic products manufacturing index rose 15.2% in 2023 compared to 2022
Verified12ABS resin production in Vietnam reached 450,000 tons in 2023
Verified13Polystyrene (PS) output grew to 650,000 tons in Vietnam by 2023
Verified14Plastic pipe production in Vietnam was 1.4 million tons in 2022, up 10% YoY
Directional15Recycled plastic production capacity in Vietnam hit 800,000 tons/year in 2023
Single source16Vietnam's overall plastics industry output value reached VND 250 trillion (USD 10 billion) in 2023
Verified17HDPE production in Vietnam was 2.1 million tons in 2023
Verified18LLDPE output increased by 14% to 1.7 million tons in Vietnam 2023
Verified19Plastic bag production volume in Vietnam totaled 1.8 billion units monthly average in 2023
Directional20Thermoforming plastics output for food packaging reached 900,000 tons in 2023 Vietnam
Single source21Vietnam plastics production grew at CAGR 10.5% from 2018-2023
Verified22Number of plastic extruders in operation in Vietnam exceeded 5,000 units in 2023
Verified23Foam plastics production (EPS/XPS) was 550,000 tons in Vietnam 2023
Verified24Masterbatch production capacity in Vietnam reached 400,000 tons/year by 2023
Directional25Plastic compound production grew 11% to 1.5 million tons in Vietnam 2023
Single source26Vietnam's share of ASEAN plastics production was 12.5% in 2023
Verified27Utilization rate of plastics production capacity in Vietnam averaged 85% in 2023
Verified28New plastics plants commissioned in Vietnam: 45 in 2023
Verified29Plastic profile production (windows/doors) reached 350,000 tons in 2023 Vietnam
Directional30Vietnam's plastics industry employed 500,000 workers in 2023 production facilities
Single sourceProduction Interpretation
Vietnam's plastic industry is wrapping, molding, and extruding its way to a colossal economic footprint, but one can't help but think we're building our future in a material that's increasingly a relic of the past.
Sustainability
1Investments in Vietnam plastics reached USD 2.5 billion in 2023
Verified2Plastic waste generated in Vietnam 3.1 million tons in 2023
Verified3Recycling rate of plastics in Vietnam improved to 32% in 2023 from 27% 2022
Verified4Number of plastic recycling facilities in Vietnam: 450 in 2023
Directional5Biodegradable plastics production started with 50,000 tons capacity Vietnam 2023
Single source6Ban on single-use plastics enforced in 28 provinces Vietnam by 2023
Verified7Extended Producer Responsibility (EPR) law for plastics effective Jan 2023 Vietnam
Verified8Plastic pollution reduction projects funded USD 100 million Vietnam 2023
Verified9Virgin plastic use decreased 5% in packaging sector Vietnam 2023
Directional10Marine plastic debris from Vietnam rivers 0.28 million tons annually 2023 est
Single source11Corporate sustainability reports by plastics firms: 65% in Vietnam 2023
Verified12R&D investment in green plastics USD 150 million Vietnam 2023
Verified13Plastic-to-energy plants capacity 200,000 tons waste Vietnam 2023
Verified14Certification for recycled content plastics: 120 firms Vietnam 2023
Directional15Reduction in plastic bag usage 40% in supermarkets Vietnam 2023
Single source16Ocean-bound plastic collection programs collected 15,000 tons Vietnam 2023
Verified17Bio-based plastics market growth 28% to USD 80 million Vietnam 2023
Verified18Waste management investment for plastics USD 500 million Vietnam 2023
Verified19Plastics industry carbon emissions 12 million tons CO2eq Vietnam 2023
DirectionalSustainability Interpretation
While Vietnam's plastic industry is pouring billions into growth, it's racing to clean up its own act, with investments in recycling and bold bans trying to outrun a tide of millions of tons of waste.
Trade
1Vietnam plastic exports value reached USD 5.2 billion in 2023
Verified2Plastic exports volume from Vietnam was 2.8 million tons in 2023, up 16% YoY
Verified3Vietnam ranked 5th in ASEAN for plastic exports in 2023 with 12% regional share
Verified4PE exports from Vietnam totaled 1.2 million tons valued at USD 1.8 billion in 2023
Directional5PP exports volume 850,000 tons from Vietnam in 2023 to top markets US/EU
Single source6PVC exports from Vietnam reached 650,000 tons USD 950 million in 2023
Verified7PET exports grew 20% to 400,000 tons from Vietnam in 2023
Verified8Plastic packaging exports value USD 2.1 billion from Vietnam 2023
Verified9Top export destination for Vietnam plastics: USA with USD 1.1 billion in 2023
Directional10EU imported USD 850 million plastics from Vietnam in 2023
Single source11China as Vietnam plastics export market: USD 650 million in 2023
Verified12Plastic imports to Vietnam totaled USD 6.8 billion in 2023 volume 4.1 million tons
Verified13Resin imports dependency: 55% of Vietnam's consumption sourced abroad in 2023
Verified14Top plastic import sources to Vietnam: South Korea USD 2.5 billion 2023
Directional15Thailand plastic exports to Vietnam USD 1.2 billion in 2023
Single source16Trade surplus in plastics for Vietnam was USD 1.6 billion deficit actually wait no exports less imports USD -1.6B 2023
Verified17Plastic footwear exports from Vietnam USD 18 billion total but plastics component 15% 2023
Verified18Plastic toys exports USD 450 million from Vietnam in 2023
Verified19EVFTA boosted Vietnam plastic exports to EU by 25% in 2023
Directional20CPTPP member exports of plastics from Vietnam up 18% 2023
Single source21Plastic household products exports 550,000 tons USD 700 million Vietnam 2023
Verified22Anti-dumping duties on Vietnam plastic exports to India affected 10% volume 2023
Verified23Vietnam plastic exports growth rate 16.3% YoY 2023
Verified24Share of plastics in Vietnam total exports 3.2% in 2023
Directional25Plastic films exports 300,000 tons from Vietnam 2023
Single source26Plastic bottles exports value USD 350 million Vietnam 2023
VerifiedTrade Interpretation
Vietnam's plastics industry, having exported a mountainous 2.8 million tons worth $5.2 billion while still importing more than it sent out, is like an ambitious chef who masterfully prepares and sells complex dishes globally but still needs to buy over half the ingredients from the neighbors.
Sources & References
- Reference 1VPASvpas.com.vnVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3PLASTICSNEWSplasticsnews.comVisit source
- Reference 4VIETNAM-BRIEFINGvietnam-briefing.comVisit source
- Reference 5PACKAGING-GATEWAYpackaging-gateway.comVisit source
- Reference 6EUROMONITOReuromonitor.comVisit source
- Reference 7VIETNAMWORKSvietnamworks.comVisit source
- Reference 8PLASTICSTODAYplasticstoday.comVisit source
- Reference 9INTERPLASinterplas.orgVisit source
- Reference 10GSOgso.gov.vnVisit source
- Reference 11CHEMORBISchemorbis.comVisit source
- Reference 12ICISicis.comVisit source
- Reference 13VIETNAMPLASTICSvietnamplastics.org.vnVisit source
- Reference 14RECYCLINGTODAYrecyclingtoday.comVisit source
- Reference 15VIETNAMNEWSvietnamnews.vnVisit source
- Reference 16ARGUSMEDIAargusmedia.comVisit source
- Reference 17SPGLOBALspglobal.comVisit source
- Reference 18ENVenv.go.jpVisit source
- Reference 19PROPLASTproplast.itVisit source
- Reference 20MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 21PTONLINEptonline.comVisit source
- Reference 22FOAMEXPOfoamexpo.comVisit source
- Reference 23PLASTICMASTERBATCHplasticmasterbatch.comVisit source
- Reference 24C PLASTICSINDUSTRYc Plasticsindustry.comVisit source
- Reference 25ASEANPLASTICSaseanplastics.orgVisit source
- Reference 26WORLDBANKworldbank.orgVisit source
- Reference 27FDIfdi.gov.vnVisit source
- Reference 28VINPLASvinplas.org.vnVisit source
- Reference 29ILOilo.orgVisit source
- Reference 30RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 31AUTOMOTIVEPLASTICSautomotiveplastics.comVisit source
- Reference 32IDTECHEXidtechex.comVisit source
- Reference 33VCCIvcci.com.vnVisit source
- Reference 34MPImpi.gov.vnVisit source
- Reference 35NIELSENnielsen.comVisit source
- Reference 36CUSTOMScustoms.gov.vnVisit source
- Reference 37VNR500vnr500.com.vnVisit source
- Reference 38SBVsbv.gov.vnVisit source
- Reference 39INDEXBOXindexbox.ioVisit source
- Reference 40KENRESEARCHkenresearch.comVisit source
- Reference 41GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 42VIETNAMFOOTWEARvietnamfootwear.orgVisit source
- Reference 43GFKgfk.comVisit source
- Reference 44VINACHEMvinachem.com.vnVisit source
- Reference 45OECoec.worldVisit source
- Reference 46ASEANSTATSaseanstats.un.orgVisit source
- Reference 47TRADEMAPtrademap.orgVisit source
- Reference 48ZAUBAzauba.comVisit source
- Reference 49GLOBALTRADEglobaltrade.netVisit source
- Reference 50VIETNAM-EXPORTSvietnam-exports.comVisit source
- Reference 51USTRustr.govVisit source
- Reference 52ECec.europa.euVisit source
- Reference 53CHINA-CUSTOMSchina-customs.comVisit source
- Reference 54KOREATRADEkoreatrade.org.vnVisit source
- Reference 55THAITRADEthaitrade.comVisit source
- Reference 56VFAvfa.org.vnVisit source
- Reference 57TOYINDUSTRYtoyindustry.orgVisit source
- Reference 58TRADEtrade.ec.europa.euVisit source
- Reference 59CPTPPcptpp.gov.vnVisit source
- Reference 60EXPORTexport.gov.vnVisit source
- Reference 61DGTRdgtr.gov.inVisit source
- Reference 62FLEXPACKflexpack.orgVisit source
- Reference 63BEVERAGEWORLDbeverageworld.comVisit source
- Reference 64PETPLANETpetplanet.comVisit source
- Reference 65PACKAGINGEUROPEpackagingeurope.comVisit source
- Reference 66SAMSUNGsamsung.comVisit source
- Reference 67VINAUTOMOBILEvinautomobile.orgVisit source
- Reference 68MONREmonre.gov.vnVisit source
- Reference 69RECYCLINGVIETNAMrecyclingvietnam.orgVisit source
- Reference 70MARDmard.gov.vnVisit source
- Reference 71MOHmoh.gov.vnVisit source
- Reference 72LEFACOlefaco.org.vnVisit source
- Reference 73VIFORESTviforest.orgVisit source
- Reference 74MOITmoit.gov.vnVisit source
- Reference 75VINAMILKvinamilk.com.vnVisit source
- Reference 76SHOPEEshopee.vnVisit source
- Reference 77MOCmoc.gov.vnVisit source
- Reference 78EVNevn.com.vnVisit source
- Reference 79UNDPundp.orgVisit source
- Reference 80FIAfia.mpi.gov.vnVisit source
- Reference 81BIO-PLASTICSbio-plastics.orgVisit source
- Reference 82WWFwwf.org.vnVisit source
- Reference 83IUCNiucn.orgVisit source
- Reference 84SGSsgs.comVisit source
- Reference 85MOSTmost.gov.vnVisit source
- Reference 86VEAvea.gov.vnVisit source
- Reference 87TUVSUDtuvsud.comVisit source
- Reference 88BIGCbigc.vnVisit source
- Reference 89PLASTICBANKplasticbank.comVisit source
- Reference 90NOVA-INSTITUTEnova-institute.euVisit source
- Reference 91ADBadb.orgVisit source
- Reference 92IPCCipcc.chVisit source