South-East Asia (SEA) Plastics Market Size Drivers And Key P...| MENAFN.COM

Thursday, 09 February 2023 11:50 GMT

South-East Asia (SEA) Plastics Market Size Drivers And Key Players Strategies Analyzed 2023-2033

(MENAFN- America News Hour)

The market for South-East Asia (SEA) plastics is expected to grow at a CAGR of over 6% globally during the forecast period.
· Growing demand from the end-user industries such as packaging, electrical & electronics, as well as construction industry are driving the market growth.
· Ecological concerns about product disposal are expected to hinder the growth of the market.
· Innovative applications in electronic products as well as rising usage of bio-degradable plastics are expected to offer various opportunities for the growth of market.

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Key Market Trends
Injection Molding Technology to Dominate the Market

– Injection molding is mostly done using virgin or high-quality processing resins. High-performance plastic pallets are usually injection molded. Injection molding is a relatively capital-consuming process, but offers the advantage of high-speed processes.
– Therefore, injection molding is found to be beneficial in the bulk production of plastic pallets. Injection molding processes are used in wire spools, packaging, bottle caps, automotive dashboards, pocket combs, etc.
– The explosive growth of local automotive, packaging, and chemical processing industries, across the world, is expected to provide a favorable market for injection molding.
– Owing to the advantageous geographical location of Myanmar, with easy access to the rapidly growing Asia-Pacific end users, the consumption of injection molded plastic pallets is expected to increase drastically.
– However, South-East Asia (SEA) is also becoming increasingly competitive in the field of injection molding. Many Japanese companies has moved their production of automotive plastic parts from China to Vietnam where technologies such as injection molding is used at the highest level.
– Owing to the increasing demand from various end-user industries, the market for injection molding is projected to increase over the forecast period.
Indonesia Country to Dominate the Market
– Indonesia's plastic and packaging sector has shown strong growth despite the country's intensified consumption habits. PET and PVC are the most widely used materials in the plastic packaging industry. Some of the major properties of PET as a packaging material are recyclability, strength, and versatility, which drives the demand for these products.
– Growing household spending, an evolving retail landscape and increase in demand for frozen & processed food are some major factors propelling the demand for packaging in Indonesia. The long-term market outlook is promising owing to the country's expanding consumer class.

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– Plastic products in Indonesia are used by a wide array of industries, such as, food & beverage packaging industry, building and household appliances, automotive and the remainder by other sectors including agriculture and horticulture. The food packaging industry remained the largest plastics end-user in 2016 in Indonesia, followed by infrastructure and automotive sectors.
– The food & beverage packaging industry continues to be the bedrock of Indonesia's plastic sales. There are around 900 companies operating in this sector throughout the country employing 350,000 workers. Their products include rigid packaging, flexible packaging, and extrusion thermoformed products.
Competitive Landscape
The South-East Asia (SEA) plastics market is consolidated with the top five players accounting for major share of the market. Most of the market leaders are vertically integrated, with a broad product portfolio of plastics for packaging and building & construction, among others. The prominent players in the market include JG Summit Petrochemicals Group, Chemrez Technologies, NPC Alliance Corporation, Petron Corporation, and Philippine Resins Industries, Inc., among others.

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Growing Demand from the End-user Industries
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Ecological Concerns about Product Disposal
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Raw Material Analysis
4.6 Price Analysis
4.7 Imports and Exports

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