Market Overview

The Vietnam recycled plastics market was valued at 290.6 Kilo Tons in 2024 and is forecasted to reach 561.7 Kilo Tons by 2033, growing at a CAGR of 7.22% during 2025-2033. Southern Vietnam holds a dominant share due to its industrial base and infrastructure, supporting efficient collection and processing. This growth is driven by government policies encouraging circular economy practices, expanding recycling infrastructure, and rising demand for sustainable materials.

Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Vietnam Recycled Plastics Market Key Takeaways

• The Vietnam recycled plastics market size was valued at 290.6 Kilo Tons in 2024 and projected to reach 561.7 Kilo Tons by 2033.
• The market is expected to exhibit a CAGR of 7.22% during the forecast period of 2025-2033.
• Southern Vietnam dominated the market in 2024 due to its industrial prominence and infrastructure.
• Increasing environmental concerns and government regulations promoting a circular economy are key growth drivers.
• Rising industrial demand for recycled raw materials to meet eco-friendly goals supports market expansion.
• Advancements in local recycling technologies and infrastructure are improving collection and processing efficiencies.

Sample Request Link: https://www.imarcgroup.com/vietnam-recycled-plastics-market/requestsample

Market Growth Factors

Diversifying the Vietnam recycled plastics market is partly attributed to rising environmental concerns over unmanaged plastic waste and landfill building. In addition, several government policies have been introduced for circular economy performance, such as recycling targets and restrictions on the use of single-use plastic bags, thus supporting the private and public sectors' transition towards recycled plastics. As green manufacturing goals are likely to be adhered to by manufacturers, and are being imposed on them, the industrial recycling market is likely to be driven by the growing demand for cost-effective and eco-friendly recycled raw materials from industries, as well as cross-border demand for recycled raw materials.

A broader consumer awareness of sustainability leads consumers to participate more actively in waste separation and recycling, enabling a positive feedback loop that allows economies of collection and processing, the establishment of technological recycling infrastructure, and overall material recovery in the plastic value chain to occur.

In addition to the aforementioned strategies, initiatives at the regional level promoting EPR and cross-border trade of plastic wastes for recycling may help raise Vietnam's waste management standards, encourage greater regional collaboration, build up the recycling sector, and help the market flourish.

Market Segmentation

By Material:

• Polyethylene Terephthalate (PET): PET was the largest material segment in 2024, driven by demand for sustainable packaging solutions and high recyclability. The rise in recycled PET (rPET) adoption is fueled by environmental awareness and government regulations, offering cost advantages for manufacturers.
• Polypropylene (PP)
• High Density Polyethylene (HDPE)
• Others

By Application:

• Non-Food Contact Packaging: Led the market in 2024, particularly in retail, cosmetics, and electronics sectors. This segment benefits from easier recycling and reuse, coupled with less stringent regulations than food-contact plastics.
• Food Contact Packaging
• Construction
• Household Products
• Others

Regional Insights

Southern Vietnam was the largest market in 2024 due to its dense industrial base, including key manufacturing hubs like Ho Chi Minh City. The region's infrastructure, including ports and logistics networks, supports efficient recycled plastics collection and processing. Local government initiatives further enhance environmental sustainability efforts, driving the region's market growth and contributing significantly to Vietnam's overall recycled plastics market share.

Recent Developments & News

• April 2025: UNDP Viet Nam and the Norwegian Embassy signed an agreement to support circular and sustainable waste management, including waste separation, establishing a Material Recovery Facility, co-processing non-recyclable waste, and piloting a Deposit Return Scheme for plastic packaging.
• April 2025: Singapore-based Circular Plastics (CPC) planned to launch a second facility in Ba Ria–Vung Tau, Vietnam, producing 25,000 t/yr of rPET flakes and 14,000 t/yr of rPET pellets to expand capacity.
• November 2023: Stavian Recycling is developing a recycled plastic plant in northern Vietnam using advanced European technology to produce high-quality rPET resin and establish a safe, efficient recycling supply chain.
• March 2023: ALBA Group Asia and VietCycle signed an agreement to develop Vietnam’s largest food-grade PET/HDPE recycling plant, endorsed by officials from Vietnam and Germany to enhance waste management.

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.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Request For Customization: https://www.imarcgroup.com/request?type=report&id=1147&flag=E

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us

IMARC Group,

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No: (D) +91 120 433 0800

United States: +1-201971-6302