The international exhibition on plastics and rubber industry (Plastics & Rubber Vietnam 2024) is taking place in the city. Ho Chi Minh City, focusing on sustainability and environmental friendliness.
Taking place over 3 days (March 13-15), the event is a bridge for Vietnamese plastic and rubber industry businesses to access the most modern equipment and technology from leading corporations in the world, Connect together and build open business partnerships.
Currently, Vietnam’s plastic industry currently has nearly 4,000 businesses nationwide; Of which small and medium enterprises account for 90%. Speaking at the opening ceremony of the exhibition, Ms. Huynh Thi My – General Secretary of the Vietnam Plastics Association – said that Vietnam’s export turnover of plastic products in 2023 will reach 5.2 billion USD, down 5.7 billion USD. % compared to 2022. Imported plastic materials in 2023 reach 6.8 million tons, down 4.2% compared to 2022. Industry revenue in 2023 reaches 25 billion USD, down about 0.7% over the same period last year 2022.
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| This 11th international exhibition will create new connection opportunities for Vietnamese and international businesses in the plastic and rubber industry. |
According to Ms. My, the issue of plastic pollution, policies to reduce the use of virgin plastic and increase the use of recycled plastic globally in the coming time will create many business opportunities as well as challenges for businesses. in the industry. Manufacturers will look for new technology and new, suitable and environmentally friendly materials to meet the trend of circular economic development, towards sustainability and environmental friendliness.
According to market research company Mordor Intelligence, the scale of Vietnam’s plastic market is estimated to reach 10.92 million tons in 2024 and is expected to reach 16.36 million tons in 2029, growing at a CAGR rate (billion tons). compound annual growth rate) reaching 8.44% in the period 2024 – 2029.
In the process of transitioning to a recycled plastic industry, the scale of Vietnam’s recycled plastic market is expected to reach 409.9 thousand tons by 2028, reaching a CAGR of 8.36% in the period 2023 – 2028 (according to Report Linker Company, 2023).
Along with the plastic industry, Vietnam’s rubber industry also had positive changes in the first months of the year. According to data from the General Department of Customs, Vietnam’s rubber exports in January 2024 reached about 260 thousand tons, worth 365 million USD, up 92.6% in volume and 99.8% in value compared to with January 2023. Rubber prices at key Asian exchanges also tend to increase in January 2024 due to support from the optimistic auto market outlook and economic stimulus measures of the Chinese Government, as well as like higher oil prices. In 2023, Vietnam will be one of the five countries exporting the most rubber to China, with a total output of 1.68 million tons, worth 2.24 million USD.
Faced with this development trend as well as new requirements of the global plastic and rubber industry, this year’s Plastics & Rubber Vietnam exhibition focuses on discussing topics such as: Directions for developing a green plastic industry in the weekly economy perfecting and applying production technology and management of the plastic and rubber industry to promote a sustainable future.
With a total display area of up to 3,300 m2, the exhibition brings together more than 60 booths from 12 countries and territories such as: England, Germany, Italy, Austria, Korea, Singapore, China…
Plastics & Rubber Vietnam 2024 is expected to welcome more than 3,500 specialized visitors during the 3-day exhibition.