From a production and usage perspective, PVC-based materials are essential in numerous industrial sectors, including construction, automotive manufacturing, electrical cables, medical devices, and packaging. According to the publisher, major PVC producers in the Asia-Pacific region include Shin-Etsu Chemical, Mitsubishi Chemical, Formosa Plastics Corp, and LG Chem. Important global producers also include Westlake Chemical and Occidental Petroleum and INEOS Group.
In Vietnam, PVC-based materials are widely used in manufacturing industries such as construction and automotive parts manufacturing. The demand for PVC in Vietnam is driven by rapid urbanization, infrastructure development, and manufacturing growth. The analysis indicates that due to limited domestic production capacity, Vietnam imports large quantities of PVC annually. Overall, PVC is a critical material in the plastic industry, which is interconnected with various other manufacturing sectors, leading to its increased usage as Vietnam's industry and economy develop.
Vietnam's manufacturing sector has seen rapid growth in recent years, with significant expansion potential in the plastic industry and its downstream sectors, such as construction, automotive parts manufacturing, electrical cables, textiles, and consumer goods. According to the publisher, Vietnam currently has around 4,000 plastic enterprises, and the plastic industry is thriving, attracting many international investors. In 2023, Vietnam imported 6.82 million tons of plastic raw materials worth US$ 9.76 billion. The export value of Vietnamese plastic products is expected to reach US$ 3.15 billion in 2024, indicating strong demand for synthetic resins in Vietnam's downstream industries and an increasing market demand for synthetic resins in the country.
According to the publisher, Vietnam's domestic capacity for raw materials in the plastic industry is insufficient, with about 70% of raw materials being imported. In 2023, the total import value of PVC resin in Vietnam was approximately US$ 550 million. Based on the publisher's data, from January to May 2024, the cumulative import value of PVC products in Vietnam reached around US$ 300 million, indicating continuous growth in market demand.
The analysis identifies the main sources of PVC resin imports to Vietnam from 2021 to 2024, including China, Taiwan, and Japan. Key companies exporting PVC to Vietnam include PT. Asahimas Chemical, Formosa Plastics Corp, IVICT, etc.
The main importers of PVC in Vietnam are both local plastic materials and products manufacturers, distributors, and logistics companies, as well as foreign-funded enterprises. Companies such as Vinacompound, JINKA Construction MateriaTechnology, and Vietnam Risesun New Material are significant players in the market.
Overall, with the growth of Vietnam's population and the continuous advancement of its manufacturing industry, the demand for PVC will continue to increase. The publisher predicts that in the coming years, Vietnam's PVC imports will maintain a growth trend.
Topics covered:
- The Import and Export of PVC Resin in Vietnam (2021-2024)
- Total Import Volume of PVC Resin in Vietnam (2021-2024)
- Total Import Value and Growth Rate of PVC Resin in Vietnam (2021-2024)
- Total Import Value and Growth Rate of PVC Resin in Vietnam (January-May 2024)
- Average Import Price of PVC Resin in Vietnam (2021-2024)
- Top 10 Sources of PVC Resin Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of PVC Resin in Vietnam and Their Supply Volume
- Top 10 Importers of PVC Resin in Vietnam and Their Import Volume
- How to Find Distributors and End Users of PVC Resin in Vietnam
- How Foreign Enterprises Enter the Plastic Raw Material Market of Vietnam
- Forecast for the Import of PVC Resin in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- PT. ASAHIMAS CHEMICAL
- Formosa Plastics Corp
- IVICT
- Vinacompound
- JINKA Construction Material
- VIETNAM RISESUN NEW MATERIAL
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 574.21 Million |
| Forecasted Market Value ( USD | $ 846.01 Million |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
