Vietnam plastic industry and the problem depends on raw materials

Vietnam plastic industry and the problem depends on raw materials

The plastic industry is benefiting from the overall growth of the economy as well as the plastic consuming industries such as real estate - construction, food and non-food. However, this industry is also facing many difficulties, most of which is in raw materials.

 

Opportunities from real estate, food and non-food industries

With the segment of industrial plastic and building material plastic, Vietnam is a market with great demand due to the warming of the real estate market.

In addition, the plastic packaging segment has a strong potential for growth in the face of the growth of the food industry, namely instant coffee consumption (up 12.2% / year), confectionery (9% / year). years), sauces and seasonings (7.7% / year).

The non-food industry has also experienced impressive growth over the past few years and promises development opportunities for the plastics industry, such as the laundry detergent segment, the cleaning solution of skin-hair care products. Surface cleaning fluids have the growth rate of 9-15%.

 

But the value is not high

The two product lines that account for the largest proportion in the plastic industry are packaging plastic (395) and household plastic (29%), but these are also the two industries with the lowest added value. Technical plastic has high added value but only accounts for 15% of the industry structure.

According to the Vietnam plastic industry development plan to 2020, with a vision to 2025 of the Ministry of Industry and Trade, the plastic industry will shift its structure towards gradually reducing the proportion of plastic packaging and household plastic products, gradually increasing. the proportion of construction materials and engineering plastics with special mechanical properties used in construction and industrial activities.

 

Unable to control the ingredients

According to the Vietnam Plastics Association (VPA), as of 2016, each year, the Vietnamese plastic industry needs about 5 million tons of plastic materials and hundreds of additives, while the domestic production source only provides about about 5 million tons of plastic materials and hundreds of additives. 900,000 tons of raw materials / year. According to data from the General Department of Customs, in 2020, Vietnam must import 6,602 million tons of plastic materials worth 8.397 billion USD, but the increase of 6.3% is only half of that of 2019 and does not meet the expectation. with many difficulties and challenges.

 

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