Myanmar Plastics Market - Growth, Trends, and Forecast (2020-2025)

The market for Myanmar 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.

• Over-reliance on imports of raw materials and finished plastics are expected to hinder the growth of the market.
• Untapped Market Economies are expected to offer various opportunities for the growth of market.

Key Market Trends

Polyethylene to Dominate the Market

• Presently, polyethylene has become one of the essential products used in our daily lives. It is primarily used in the packaging sector, which comprises of containers and bottles, plastic bags, plastic films, as well as geomembranes. It has various types, including HDPE and LDPE.
• The packaging industry has been experiencing drastic growth over the past few years. The increased demand for packaged goods has accelerated the demand for high-density polyethylene (HDPE).
• Owing to the increased disposable income, rising consumption of products, including packaged foods, personal care products, pharmaceuticals, etc., the HDPE market is growing drastically.
• The use of HDPE for plastic pipes in buildings is leading to the growth of the product’s market, owing to the new opportunities that in favor of Myanmar’s infrastructure sector.
• Myanmar’s construction industry growth may remain robust in the coming years owing to the favorable government regulations and foreign investment flows into the transport and real estate sectors.
• Recently, the Myanmar Central Bank opened lending opportunities for foreign banks operating in the country. This move has allowed the banks to offer loans to foreign companies and joint venture operations, which presents the possibility to avail loans for construction projects in the country.
• Owing to the above-mentioned factors, growth of traditional plastics, including polyethylene, in Myanmar is expected to rise over the forecast period.

Growing Demand from Packaging Industry

• Packaging accounts for the largest application segment in the Vietnam plastics market. The prime reasons for the growing application of engineering plastics, in the packaging segment, are better wear and chemical resistance, ease of molding, recyclability, puncture resistance, and high mechanical strength.
• Some of the major applications of engineering plastics, in the packaging segment, are as follows: packaging of bottled water, flexible packaging, such as sausage skin, flexible foils, such as shopping bag.
• Polyethylene terephthalate (PET) is one of the plastics majorly used for packaging purposes, mostly in the food and beverage industry. Portability, design flexibility, ease of cleaning, light weight, and protection against moisture, are a few properties of PET, which makes it suitable for packaging purposes. In addition, low handling hazards, low toxicity, and absence of bisphenol A (BPA) and heavy metals are some of the other factors that allow PET to be used for food packaging.
• PETs are used for making clamshells, bakery and take-out containers, microwaveable food trays, carbonated soft drink bottles, and other packages. Other applications include packaging materials for cooking oils, shampoo, hand wash, and more products.
• Polyamide is another major engineering plastic that finds major application in the packaging sector. Bi-axially oriented and non-oriented polyamide films are used in medical and food packaging, owing to the former’s high impact strength and good heat resistance.
• Increasing household and commercial applications for containers, plastic bags, canisters, and tableware, among others, are expected to drive the consumption demand for plastics in the packaging sector, during the forecast period.
• The usage of plastics for packaging products is expected to experience a fairly steady demand, during the forecast period. Requirements for rubber gloves in the healthcare sector, stretch films, garbage bags, and other medical devices, are anticipated to witness greater demand, in the coming years.

Competitive Landscape

The Myanmar plastics market is fragmented with top five players accounting for a small chunk of the market, with a huge dependency on import share. Some of the major companies in Myanmar plastics market includes Myit Shwe Wah Industry Co. Ltd, Great Foundation Plastic Manufacturing Factory, Shwe Mi Industrial Co. Ltd, Indorama Ventures Packaging (Myanmar) Limited, and Popular Plastic Industry Group Co. Ltd, among others.

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