Factors supporting the development of the world plastic industry in general and Vietnam in particular in the next 5 years
First, the growth in production and consumption of the world and Vietnam’s plastic industry is expected to continue to grow in production and consumption of [plastic] in the future, due to the need to use plastic in many fields such as packaging, automobiles, electronics, healthcare, and agriculture are still increasing. As global economies continue to recover and expand, increased industrial activity and consumer spending will contribute to higher demand for plastic products.
Second, the trend of switching to environmentally friendly products. Due to increasingly serious environmental pollution, the world and Vietnam plastic industries will aim to convert to the production of environmentally friendly products, such as recycled plastic, bioplastic, and reusable plastic. Developments in recycling technologies and biodegradable plastics are also key. Some environmentally friendly products such as: pp non woven die-cut bags, pp non woven t-shirt bags.
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Third, strengthen research and development. Vietnamese plastic industry enterprises will increase investment in research and development of new plastic technologies. Products will have higher quality, save energy and minimize negative impacts on the environment.
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Fourth, fierce competition. Due to increasingly fierce market competition in the industry, plastic manufacturing businesses will have to make efforts to increase productivity, improve product quality, and reduce power consumption. At the same time, businesses also reduce product prices to compete in the international market. Some products that are highly consumed in supermarkets include: Plastic roll bags, Flat bags on roll, Produce bags on roll…
Fifth, support policy from the Government. The Vietnamese government will introduce policies to support the plastic industry to promote production and investment. Besides exporting, the Government will guide plastic manufacturing businesses to comply with regulations on environmental protection and consumer health.
Therefore, Vietnam’s strategic location and trade agreements make it a competitive player in the global plastic market. Increasing export opportunities will support the growth of the domestic plastic industry.Products expected to have strong sales: Plastic roll bags, Flat bags on roll, PP Non Woven
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