Vietnam Recycled Ocean Plastics Market Size & Outlook
Vietnam recycled ocean plastics market, 2019-2030 (US$M)
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Vietnam recycled ocean plastics market highlights
- The Vietnam recycled ocean plastics market generated a revenue of USD 29.3 million in 2023 and is expected to reach USD 45.2 million by 2030.
- The Vietnam market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, polyethylene terephthalate (pet) was the largest revenue generating resin in 2023.
- Polystyrene (PS) is the most lucrative resin segment registering the fastest growth during the forecast period.
Recycled ocean plastics market data book summary
| Market revenue in 2023 | USD 29.3 million |
| Market revenue in 2030 | USD 45.2 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Polyethylene terephthalate (pet) |
| Fastest growing segment | Polystyrene (PS) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyvinyl chloride (PVC) |
| Key market players worldwide | Simpson Manufacturing Co Inc, Mitek Systems Inc, Eurotech Ltd, Globus Medical Inc Class A, Oceanworks, Aquafil SpA, Ocean Plastics, The Ocean Cleanup, Oceanus, Textil Santanderina, SeQual Technologies, Waterhaul, Bionic, Bureo Skateboards, Tide Ocean, Plastixs, POPSICASE, Parley, Econyl |
Other key industry trends
- In terms of revenue, Vietnam accounted for 1.7% of the global recycled ocean plastics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China recycled ocean plastics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 624.4 million by 2030.
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Recycled Ocean Plastics Market Scope
Recycled Ocean Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Vietnam recycled ocean plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to recycled ocean plastics market will help companies and investors design strategic landscapes.
Polyethylene terephthalate (pet) was the largest segment with a revenue share of 38.57% in 2023. Horizon Databook has segmented the Vietnam recycled ocean plastics market based on high-density polyethylene (hdpe), low-density polyethylene (ldpe), polypropylene (pp), polyethylene terephthalate (pet), polystyrene (ps), polyvinyl chloride (pvc) covering the revenue growth of each sub-segment from 2019 to 2030.
Vietnam is currently facing a significant challenge related to the disposal of plastic waste, which has become a pressing environmental issue in the country. Annually, Vietnam produces approximately 1.8 million tons of plastic waste. Of this, approximately one-third is disposed of in the oceans.
The government of the country has recognized plastic waste as a top priority that needs to be addressed. As such, it has launched a national campaign against plastic waste to address the issue of plastic waste, making it a significant political missions.
The government of the country implemented this policy for tires, batteries, motor oils, and plastic bags in August 2022. Electronic products and vehicles will be covered under this policy by 2025 and 2027, respectively.
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Our clientele includes a mix of recycled ocean plastics market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Vietnam recycled ocean plastics market, including forecasts for subscribers. This country databook contains high-level insights into Vietnam recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Vietnam recycled ocean plastics market report size, by resin, 2019-2030 (US$M)
Vietnam Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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