Research Report on Southeast Asia Plastics Industry 2023-2032

Research Report on Southeast Asia Plastics Industry 2023-2032

The development of the plastics industry in Southeast Asian countries varies widely. According to CRI's analysis, Malaysia, Vietnam, Thailand, Indonesia and the Philippines are the major exporters of plastic products in Southeast Asia. The plastics industry is one of the fastest growing industries in Vietnam, with an average annual growth rate of about 17%, and Vietnam's plastic products have been exported to more than one hundred and sixty countries and regions around the world. In contrast, Singapore, Laos and Brunei have almost no plastics industry in their own countries and rely on imports of plastic products.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.

Overall, the overall market size of the plastics industry in Southeast Asian countries has shown an upward trend in recent years, especially in Vietnam, Malaysia, Thailand and other countries with sustained economic growth, promoting the market demand for plastics and their products.

According to CRI forecast, the plastics industry in Southeast Asia will maintain growth from 2022-2032. On the one hand, lower labor costs in Southeast Asian countries will prompt global plastics and its products producers to shift production capacity to these regions. On the other hand, rising market demand for plastics and their products in Southeast Asia will prompt global plastics and their products producers to increase their exports to these countries.

Topics covered:

• Southeast Asia Plastics Industry Status and Major Sources in 2018-2022 
• What is the Impact of COVID-19 on Southeast Asia Plastics Industry?
• Which Companies are the Major Players in Southeast Asia Plastics Industry Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in Southeast Asia Plastics Industry   
• What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Plastics Industry during 2023-2032?
• What is the Expected Revenue of Southeast Asia Plastics Industry during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in Southeast Asia Plastics Industry Market?
• Which Segment of Southeast Asia Plastics Industry is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing Southeast Asia Plastics Industry?