The Vietnam recycled plastics market was valued at 290.6 Kilo Tons in 2024 and is projected to reach 561.7 Kilo Tons by 2033, growing at a CAGR of 7.22% during 2025-2033. This growth is driven by increasing environmental concerns, government initiatives to promote recycling, expanding industrial demand for sustainable materials, and advances in recycling technology. Southern Vietnam holds a significant market share due to its industrial base and infrastructure.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Vietnam Recycled Plastics Market Key Takeaways
- The Vietnam recycled plastics market was valued at 290.6 Kilo Tons in 2024.
- The market is expected to grow at a CAGR of 7.22% from 2025 to 2033.
- The forecast period for market growth is 2025-2033.
- Southern Vietnam dominated the market in 2024 due to its dense industrial base, high urban population, and efficient waste collection and processing infrastructure.
- Government policies promoting circular economy, recycling targets, and restrictions on single-use plastics are major growth drivers.
- Industrial demand for cost-effective and eco-friendly raw materials is rising to meet green production goals.
- Advancements in local recycling infrastructure and technology are improving processing efficiency and material recovery.
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Market Growth Factors
Because people have increasing knowledge of environmental issues, have worry for landfills, and use sustainable packaging materials, they drive Vietnam's recycled plastics market. Government plans cause a decline in single-use plastics use among businesses and consumers to increase recycling rates and ban them.
Industry further industrializes because of manufacturers, who seek cheaper feedstocks that are more environmentally sustainable to satisfy new sustainability regulations and green commitments. Additionally, international trade trends like a cross-border demand for recycled feedstocks further drive growth in the market.
When consumers know more of environmental problems, the consumers may sort waste better at the start, and then recycle. Additionally, infrastructure and technology that collect and process can raise recovery rates and make the industry profitable.
Market Segmentation
Analysis by Material:
- Polyethylene Terephthalate (PET): The largest material segment in 2024 due to high recyclability and growing demand for eco-friendly packaging solutions such as beverage bottles and food containers. Rising consumer preference for recycled PET (rPET) and government regulations promote PET recycling.
- Polypropylene (PP)
- High Density Polyethylene (HDPE)
- Others
Analysis by Application:
- Non-Food Contact Packaging: The leading application segment in 2024, driven by the demand for eco-friendly packaging in retail, cosmetics, and electronics. Non-food packaging materials are easier to recycle, facing fewer regulations than food-grade plastics.
- Food Contact Packaging
- Construction
- Household Products
- Others
Regional Insights
In 2024, Southern Vietnam dominated the recycled plastics market due to its robust industrial and economic base. The region, including Ho Chi Minh City, hosts major manufacturing hubs for plastics production, recycling, and consumption. High plastic waste volume from packaging, electronics, and textiles ensures a steady supply of recyclable materials. Well-developed infrastructure, ports, logistics networks, and government sustainability initiatives support efficient recycling operations.
Recent Developments & News
- April 2025: UNDP Viet Nam and the Norwegian Embassy signed an agreement to support circular and sustainable waste management, promoting waste separation, Material Recovery Facility establishment, co-processing non-recyclable waste in cement kilns, and piloting a Deposit Return Scheme for plastic packaging.
- April 2025: Circular Plastics (CPC) announced the launch of its second facility in Ba Ria–Vung Tau, Vietnam, producing 25,000 t/yr of rPET flakes and 14,000 t/yr of rPET pellets, expanding CPC’s capacity alongside its Myanmar plant.
- November 2023: Stavian Recycling is developing a recycled plastic plant in northern Vietnam utilizing advanced European technology to produce high-quality rPET resin and establish a safe recycling supply chain.
- March 2023: ALBA Group Asia and VietCycle signed an agreement for Vietnam’s largest food-grade PET/HDPE plastic recycling plant, endorsed by officials from Vietnam and Germany to enhance waste management and recycling.
Key Players
- 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.
- Thien Phuoc Production & Trading Co. Ltd.
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