Vietnam Masterbatch market is anticipated to grow at an impressive rate during the forecast period on account of the flourishing plastics industry in the country. Vietnam’s plastic industry has more than 2,000 businesses operating, evenly distributed from North to South, with majority players concentrated in Ho Chi Minh City. Additionally, Vietnam is famous for filler masterbatch especially calcium carbonate filler masterbatch. Vietnam has one of the largest calcium carbonate resources across the globe. There are three types of calcium carbonate in Vietnam including limestone, chalk and dolomite. The availability of calcium carbonate reserves not only help in reducing the production cost of masterbatch in Vietnam but also stabilizes the amount of input material used, thereby reducing the overall costs and improves product competitiveness.
The growing use of masterbatch in injection molding, extrusion, and blow film is expected to spur the growth Vietnam masterbatch market. Apart from these, government policies like Decision 687
Growing Demand for the Packaging Materials
In the current market scenario, packaging is considered as one of the major factors that consumers prefer to buy the product. The different colors, properties, and shapes indicate the different concepts of the product. Thus, the masterbatch helps them achieve the desired packaging material properties. The logistics, consumer goods, and electronic industries are the major market where demand for polymers and masterbatch is very high for packaging. Studies estimate that the retail sales of food and beverages in Vietnam are expected to reach 66 billion USD in 2023, which is almost 90% more than the year 2016. Apart from these, different consumer goods sectors like apparel and electronics are expected to grow at an impressive rate. Hence, all these sectors need packaging material and masterbatch to enhance the properties of the polymers used in packaging material. Therefore, the demand for the Vietnam masterbatch market is expected to be high in the projected period.
Growing Demand for Automobiles
Vietnam is one of the major economies in terms of GDP in the southeast region, which influences the region's trade. Due to one of the fastest growing economies in the world and increasing manufacturing units in the region, it is increasing the people's income and standard of life. Buying a vehicle in Vietnam is deemed a considerable investment. As per the report, 42 % of the people consider a car over a house as an investment in Vietnam if the necessary fund is found at. Dashboards, side trims, headlight back covers, door handles, locks, car batteries, headlamp bumpers, wire, and cable are the various part of automobiles where masterbatch is required for manufacturing the product. Thus, the increasing demand for automobiles is expected to propel the market share of the Vietnam masterbatch market for the anticipated period.
As the electronic vehicle demand is growing in Vietnam, achieving the zero-carbon emission led to an increase in demand for e-vehicle. The masterbatch is used to produce different parts of vehicles such as batteries, bumper, and others. Growing demand from packing industries to use it in bio-resin propels the market growth. Favorable government policies to attract FDI and people's awareness of sustainable development is a factor to propel the masterbatch market growth.
Market Segmentation
Vietnam masterbatch market is segmented based on type, polymer, application, and end-user industry.
Based on type, the market is divided into white, black, additive, color, and others. Based on polymer, the market is divided into PP, LDPE/LLDPE, HDPE, PVC, PET, and others. Based on application, the market is divided into film extrusion, injection molding, blow molding, roto molding, and others. Based on end-user industries, the market is divided into packaging, building & construction, consumer goods, automotive, textile, and others.
Market Players
Masterbatch (Viet Nam) Pty. Ltd, TLD Vietnam, Tan Hung Co Manufacturing and Trading Company Limited, Vinares Vietnam Joint Stock Company, Dai A Plastic Industries, CPI Vietnam Plastic Limited Company, US Masterbatch JSC, Sunrise Colours Vietnam Co., Ltd., Vietnam Colour Trading and Manufacturing Co., Ltd., Vietnam Hanotech Joint Stock Company are the key players operating in the Vietnam masterbatch market.
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Attribute
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Details
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Base Year
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2022
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Historic
Data
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2018 – 2021
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in USD
Million, volume in metric tons, and CAGR for 2018-2022 and 2023-2028
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Report
coverage
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Revenue forecast, volume
forecast, company share, competitive landscape, growth factors, and trends
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Segments
covered
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Type
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Polymer
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Application
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End User Industry
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Regional
scope
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North; Central; South.
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Key
companies profiled
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Masterbatch
(Viet Nam) Pty. Ltd, TLD Vietnam, Tan Hung Co Manufacturing and Trading
Company Limited, Vinares Vietnam Joint Stock Company, Dai A Plastic
Industries, CPI Vietnam Plastic Limited Company, US Masterbatch JSC, Sunrise Colours Vietnam Co., Ltd.,
Vietnam Colour Trading and Manufacturing Co., Ltd., Vietnam Hanotech Joint
Stock Company.
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Customization
scope
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10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
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Pricing and
purchase options
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Avail
customized purchase options to meet your exact research needs. Explore purchase options
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Delivery
Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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