Vietnam’s Plastics Market Still Has Significant Growth Potential
According to the Vietnam Plastics Association (VPA), over the past decade, the plastics industry has consistently maintained double-digit growth in both the volume of imported raw materials and the export of plastic products. This demonstrates the substantial potential of the domestic plastics sector.
VPA statistics show that in 2017, the total export value of Vietnam’s plastics industry exceeded USD 3 billion, up 17.6% compared to 2016. Key export markets with strong growth included South Korea (+30%), ASEAN (+24.2%), and Japan (+14.8%). The EU market remained stable, while exports to China saw an impressive 61.5% increase.
Notably, in the first six months of this year, aggregated data from the General Department of Customs indicated that plastics exports reached approximately USD 1.43 billion, up 20% year-on-year. Vietnamese plastic products are exported to over 35 markets worldwide, including demanding markets such as Japan, which accounted for 21.8% of the total export value in this product group, reaching USD 312.47 million, a 15.7% increase compared to the same period last year. Other key markets include the United States (15.6%, USD 223.73 million, +22.8%), Netherlands (5.3%, USD 75.88 million, +17.5%), and South Korea (USD 75.32 million, +30.4%).
Regarding competitiveness, industry players note that while Vietnamese plastics companies were previously small family-owned or private businesses, the trend of integration has led to larger-scale enterprises that continue to grow year by year.
Currently, domestic plastics companies are competing relatively well with foreign firms and imported plastic products in Vietnam. Strong local enterprises are increasingly investing in technology, factories, and partnerships with foreign companies to focus on both domestic market products and exports.
The export market is still considered to have significant potential and offers many opportunities for local businesses. To enhance competitiveness, experts suggest that manufacturers should consider investing in new machinery, particularly energy-efficient and environmentally friendly production technologies.
Strong Attraction for International Brands
With these advantages, Vietnam has witnessed strong participation from foreign companies providing machinery, equipment, and raw materials for the plastics industry in recent years.
Through trade fairs and exhibitions, foreign exhibitors have the opportunity to connect with domestic plastics manufacturers to supply machinery and equipment or to find distributors in Vietnam. At international exhibitions such as VietnamPlas, the number of foreign participants has increased in both scale and the presence of leading global brands over the years.
Over more than a decade, VietnamPlas has established itself as a prestigious trade exhibition for the plastics and rubber industry in Vietnam, showcasing a wide range of new machinery and technology. For instance, VietnamPlas 2018, held from October 4 to 7 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, attracted 520 top suppliers from 14 countries and territories, including Belgium, China, Hong Kong, India, Iran, Japan, South Korea, North Korea, Singapore, the Netherlands, Poland, Thailand, Taiwan, and Vietnam.
Covering an exhibition area of over 18,000 m², the event will display the best production solutions for Vietnam’s plastics and rubber industry and provide in-depth knowledge from industry experts.
At this year’s VietnamPlas, WAPS will showcase its BS-III series high-flexibility, energy-saving injection molding machines. Renowned plastics recycling manufacturer Polystar will not only display high-quality recycling machines but also introduce film blowing and bag-making equipment.
Meanwhile, Lung Meng will present high-performance film blowing machines for local plastic bag manufacturers. Haitian, a leading injection molding machine manufacturer, will introduce the latest CNC technology, highlighting advancements in Vietnam’s plastics sector.
High-quality raw material supplier Persian Gulf Polymer promises to bring materials that enhance the value of domestic plastic products, while LS Mtron will showcase energy-saving injection molding machines with high-precision injection technology.
With strong participation from major industry brands, VietnamPlas 2018 is expected to continue serving as a leading trade forum for the plastics sector, meeting most requirements of domestic manufacturers.
The exhibition is organized by Vinexad Trade Fair Advertising Joint Stock Company in collaboration with Yorkers Trading & Marketing Services Co., Ltd., with the support of the Vietnam Plastics Association (VPA), Vietnam Rubber Association (VRA), Rubber & Plastics Association of Ho Chi Minh City (RPMA), Vietnam Association of Mechanical Industry (VAMI), and several international associations such as the Korean Plastics Processing Machinery Industry Cooperative (KPPMIC), Taiwan Association of Machinery Industry (TAMI), Taiwan Mold & Die Industry Association (TMDIA), Taiwan Plastics Industry Association (TTPIA), and China Council for the Promotion of International Trade (CCPIT).
VietnamPlas will also host an in-depth seminar on October 5, focusing on “The Current Situation of Plastic Waste and Investment in Plastic Recycling in Vietnam”, organized by the Ministry of Natural Resources and Environment, the Department of Natural Resources and Environment, the Environmental Protection Fund, and the Vietnam Plastics Association.
