Vietnam: Plastic Packaging Market 2024

Plastic Packaging Market Size in Vietnam

The Vietnamese plastic packaging market expanded modestly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Packaging Production in Vietnam

In value terms, plastic packaging production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Packaging Exports

Exports from Vietnam

In 2022, after two years of decline, there was growth in shipments abroad of plastic packaging, when their volume increased by X% to X tons. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic packaging exports declined to $X in 2022. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Japan (X tons), Germany (X tons) and the United States (X tons) were the main destinations of plastic packaging exports from Vietnam, with a combined X% share of total exports. The UK, the Netherlands, France, Myanmar, Poland, Australia, Spain, South Korea, Denmark and Canada lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic packaging exported from Vietnam were the United States ($X), Japan ($X) and Germany ($X), together comprising X% of total exports. The UK, Myanmar, South Korea, the Netherlands, France, Poland, Australia, Canada, Spain and Denmark lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic packaging export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced a decline.

Plastic Packaging Imports

Imports into Vietnam

In 2022, approx. X tons of plastic packaging were imported into Vietnam; increasing by X% against the year before. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, plastic packaging imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell modestly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest plastic packaging supplier to Vietnam, with a X% share of total imports. Moreover, plastic packaging imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of plastic packaging to Vietnam, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

The average plastic packaging import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and the United Arab Emirates ($X per ton), while the price for Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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