Vietnam PET Preforms Market Outlook - 2032
The Vietnam PET Preform market was valued at $134.7 million in 2022, and is projected to reach $218.1 million by 2032, registering a CAGR of 5.1% from 2023 to 2032.
Pet preforms, which are known as polyethylene terephthalate preforms, are semi-finished products used in the manufacture of plastic bottles and containers. These preforms are typically made from PET resin, a type of plastic known for its excellent clarity, lightweight, and recyclability. Pet preforms are produced in a variety of shapes and sizes, designed to be heated and stretched to form the final plastic container during the blow moulding process. They are a crucial component in the packaging industry, playing a significant role in the production of bottles for various applications.
The primary and most well-known use of pet preforms is in the beverage industry. Soft drink companies, mineral water producers, and even beer manufacturers extensively use pet preforms to create bottles of different sizes and shapes. PET bottles are preferred for beverages due to their lightweight nature and resistance to breakage.
Pet preforms find applications in the food industry for packaging sauces, condiments, edible oils, and other liquid or semi-liquid products. PET containers are known for their excellent barrier properties that protect the contents from external factors such as moisture, air, and UV light.
Vietnam has experienced significant growth in its manufacturing and packaging industries. This growth has naturally led to increase in usage of pet preforms. The beverage industry, including soft drinks and bottled water, has been a major driver for pet preform usage. The Vietnam food industry is flourishing. Pet preforms are utilized for packaging a range of food products, including cooking oils and sauces. The growing popularity of convenience foods has further boosted the demand for such packaging.
The Vietnam healthcare sector has been evolving, which has led to a greater need for packaging solutions for pharmaceuticals and medical products. Pet preforms play a role in ensuring the safety and integrity of these products. Manufacturing and industrial sectors in Vietnam require robust packaging for chemicals, lubricants, and industrial solvents. Pet preforms are chosen for their durability and chemical resistance. PET containers can withstand the handling and transportation requirements of the chemical industry without the risk of breakage or degradation.
Increase in demand for beverage bottles in Vietnam drives the growth of Vietnam PET preforms market.
The PET preform market in Vietnam is experiencing significant growth, primarily driven by the increased demand for bottled beverages such as water, soft drinks, and alcoholic beverages. This growth can be attributed to shifting consumer preferences as Vietnam undergoes urbanization and modernization. Consumers in the country are increasingly favoring the convenience of packaged beverages, including bottled water, soft drinks, and alcoholic beverages.
Furthermore, Vietnam's popularity as a tourist destination has contributed to a higher demand for bottled beverages, especially among tourists who prioritize safety and convenience. This has resulted in a thriving market for PET preform bottles in Vietnam. Additionally, Vietnam's strategic location in Southeast Asia has positioned it as a distribution hub for neighbouring countries, leading to increased production and export of PET preform bottles for the regional market.
The Vietnam PET preform market is segmented on the basis of type, neck size, and, application. On the basis of type, the market is classified into ROPP, Standard PCO, Alaska, CTC Preforms, and others. By neck size, the market is categorized into lower, 25 Mm, 28 Mm, 29 Mm, and 30 Mm 38 Mm, and larger. On the basis of application, the market is divided into carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemicals, and others.
Vietnam PET Preforms Market, by Type
By type, Standard PCO segment dominated the Vietnam PET preform market in 2022. Vietnam has a growing beverage industry, and PET preforms are a critical component of this sector due to their lightweight, durability, and ease of recycling. These preforms are typically made from PET resin through injection moulding processes. They are then heated and stretched to form the final PET bottle.
By Type
Standard PCO is projected as the most lucrative segment.
Vietnam PET Preforms Market, by Neck Type
Based on neck size, 28 Mm segment dominated the Vietnam PET preform market in 2022. PET preforms are widely used in the production of PET bottles and containers. The neck size of 28mm is a common standard in the industry. In Vietnam, PET preforms with a 28mm neck size are used primarily for manufacturing various types of beverage bottles and containers. These preforms are heated and stretched to create the final bottle shape during the blow moulding process.
By Neck Size
28 Mm is projected as the most lucrative segment.
Vietnam PET Preforms Market, by Application
Based on application, water segment dominated the Vietnam PET preform market in 2022. PET preforms play a crucial role in the production of plastic water bottles. These preforms are manufactured using PET (polyethylene terephthalate) resin and are designed to be heated and blown into the final bottle shape. The bottled water industry in Vietnam relies heavily on PET preforms. These preforms are used to create various sizes and shapes of water bottles, catering to different market segments. The use of PET is preferred because it's lightweight, durable, and cost-effective.
By Application
Water is projected as the most lucrative segment.
The key players operating in the Vietnam PET preforms market include Bao Van Plastic Joint Stock Company, Do Thanh Technology Joint Stock Company, Duy Tan Plastic Company, Hon Chuan Vietnam, Indorama Ventures Public Company Limited, Living Fountain Plastic Industrial Co., Ltd., Minh Hưng Group, SriThaiVietnam, Thanh Nghia PET Packaging Joint Stock Company, and Vinh Tai Plastic Production Trading Company Limited.
Key Benefits For Stakeholders
- The report includes in-depth analysis of different segments and provides market estimations between 2022 and 2032.
- A comprehensive analysis of the factors that drive and restrict the growth of the Vietnam PET preform market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the Vietnam PET preform market growth, in terms of value.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current Vietnam PET preform market trends and future estimations from 2022 to 2032, which help identify the prevailing market opportunities.
Vietnam PET Preforms Market Report Highlights
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Analyst Review
According to the opinions of various CXOs of leading companies, the Vietnam PET preforms market is driven by a rise in demand for Standard PCO. Standard PCO refers to a standardized neck finish for plastic bottles, primarily used for carbonated beverages. The design and dimensions of this neck finish are consistent, allowing for compatibility with various closures and bottling equipment. PET is a recyclable material, aligning with the global push for sustainable packaging solutions. Manufacturers and consumers in Vietnam are increasingly conscious of the need to reduce plastic waste, and PET's recyclability is a step in the right direction.
Increase in demand for beverage bottles in Vietnam drives the growth of Vietnam PET preform market during the forecast period. The Vietnam PET preform market is experiencing growth, driven by rise in demand for bottled beverages such as water, soft drinks, and alcohol. This growth is largely influenced by changing consumer preferences owing to urbanization and modernization in Vietnam. Consumers are favoring convenience of packaged beverages, including bottled water, soft drinks, and alcoholic drinks.
PET performs raw material price volatility is expected to hinder the growth of the Vietnam PET preforms market during the forecast period. The Vietnam PET preform market is sensitive to fluctuations in prices of its primary raw material, PET resin. These price changes directly affect production costs in the country. PET resin's price volatility in Vietnam is driven by global and domestic factors. Internationally, the cost of PET resin is tied to crude oil prices due to its petroleum-based product. Consequently, global events such as geopolitical tensions, oil supply disruptions, and economic conditions can lead to price instability in the Vietnam PET preform market.
Increase in demand for beverage bottles in Vietnam. These are the key factors boosting the Vietnam PET preforms market growth
The Vietnam PET preform market was valued at $ 134.72 million in 2022, and is projected to reach $ 218.08 million by 2032, growing at a CAGR of 5.1% from 2023 to 2032.
The key players operating in the Vietnam PET preforms market include Bao Van Plastic Joint Stock Company, Do Thanh Technology Joint Stock Company, Duy Tan Plastic Company, Hon Chuan Vietnam, Indorama Ventures Public Company Limited, Living Fountain Plastic Industrial Co., Ltd., Minh H?ng Group, SriThaiVietnam, Thanh Nghia PET Packaging Joint Stock Company, and Vinh Tai Plastic Production Trading Company Limited.
Rise in demand for packaged products is the main drivers of Vietnam PET preforms market
The Vietnam PET preform market is segmented on the basis of type, neck size, and, application. On the basis of type, the market is classified into ROPP, Standard PCO, Alaska, CTC Preforms, and others. By neck size, the market is categorized into lower, 25 Mm, 28 Mm, 29 Mm, and 30 Mm 38 Mm, and larger. On the basis of application, the market is divided into carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemical, and others.
PET preforms’ raw material price volatility is the restraint factor of Vietnam PET preforms market
Standard PCO is the dominating segment based on type
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