Vietnam Masterbatch Market, By Type (White, Black, Additive, Color, Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application (Film Extrusion, Injection Molding, Blow Molding, Roto molding, Others), By End User Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Textile, Others), By Region, Competition Forecast and Opportunities, 2028

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/QD-TTg 2022 approving the Scheme on development of circular economy in Vietnam and the national action plan are expected to create lucrative opportunities for the growth of masterbatch market in Vietnam during the forecast period.

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 available. 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.

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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.

Report Scope:

In this report, Vietnam masterbatch market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Masterbatch Market, by type:
• White
• Black
• Additive
• Color
• Others
• Vietnam Masterbatch Market, by polymers:
• PP
• LDPE/LLDPE
• HDPE
• PVC
• PET
• Others

·         Vietnam Masterbatch Market, by application:

• Film Extrusion
• Injection Molding
• Blow Molding
• Roto molding
• Others

·         Vietnam Masterbatch Market, by end user industry:

• Packaging
• Building & Construction
• Consumer Goods
• Automotive
• Textile
• Others
• Vietnam Masterbatch Market, by region

o   East

o   Central

o   South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam masterbatch market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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