1/ Overview of the Plastic Resin Market

• Global Market:

• The global plastic resin market is projected to exceed USD 1,296.5 billion by 2033, with a compound annual growth rate (CAGR) of 4.57% during the period 2024–2033^*.
• The global plastic resin market is growing steadily, fueled by strong demand across industries and the versatility of materials like polyethylene and polypropylene. Ongoing R&D is enhancing performance, while sustainability trends are driving interest in biodegradable and recyclable resins. Stricter environmental regulations and circular economy efforts are also accelerating the shift toward greener production.

Plastic resin market size 2023 to 2033 (USD billion)

　　　*: https://www.visionresearchreports.com/plastic-resin-market/41135

• Vietnam Market:

• According to a report by Mordor Intelligence ^*2, Vietnam’s plastic market is expected to grow at a compound annual growth rate (CAGR) of 8.4% during the period 2024–2029, reaching 16.4 million tons by 2029.
• The plastic resin market has been experiencing stable growth, driven by increasing demand across various industries due to factors such as:

• Growth in the Packaging Industry: With the rise of e-commerce and food packaging, plastics such as polyethylene (PE) and polypropylene (PP) are in high demand.
• Expansion of the Automotive Sector: The automotive industry is increasingly using plastic components to reduce vehicle weight and improve fuel efficiency.
• Technological Advancements: Innovations in biodegradable and recycled plastics are reshaping the industry amid growing environmental concerns.
• Regulatory Challenges: Many countries are enforcing stricter regulations on single-use plastics, pushing companies to develop sustainable solutions.

• Traditional Plastics: continue to dominate Vietnam’s plastic market, accounting for approximately 52% of the market share in 2024. This segment includes key materials such as polyethylene (PE), polypropylene (PP), polystyrene (PS), and polyvinyl chloride (PVC), which are widely used across various industries.　
• Engineering Plastics: represent a vital segment of Vietnam's plastics market, offering high-performance materials tailored for specialized applications. This category includes substances like polyurethane, fluoropolymers, polyamides, polycarbonates, and other advanced polymers, which are widely used in demanding sectors such as automotive, electronics, and industrial manufacturing.
• Bioplastic:  The bioplastics sector is the fastest-growing segment in Vietnam’s plastics market, projected to expand by around 13% from 2024 to 2029. Growth is fueled by rising environmental awareness and strong government policies targeting single-use plastic reduction by 2030. Major retailers are shifting toward eco-friendly packaging, while local companies drive innovation in biodegradable products.

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Vietnam Plastics Market: Market share by type segment 2024

**: https://www.mordorintelligence.com/industry-reports/vietnam-plastics-market

2/ Contribute and suggestion by Kanematsu.

• Vietnam’s plastic resin market is experiencing strong growth, led by traditional resins, which account for approximately 52% of the total market share. At the same time, the growing trend toward sustainability is driving the expansion of recycled and biodegradable plastics, helping the industry gradually balance economic efficiency with environmental responsibility.
• Kanematsu places strong emphasis on Vietnam’s economic development, with a focus on sustainability. We are accelerating its efforts in the plastic resin market, offering a range of virgin, recycled, and biodegradable resins, along with specialized additives for the plastics industry.
• We trust that combining quality, technology, and sustainable solutions will help our customers optimize production and contribute to a more resilient, sustainable plastics industry.

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The future of bioplastic applications.

Typical Uses of Traditional Plastics