MYANMAR PET MARKET

Myanmar PET market is projected to experience substantial CAGR of 6.5% during the forecast period from 2024-2301, primarily propelled by urbanization and an increasing preference for bottled water in the country.

Major Market Drivers and Emerging Trends

Myanmar Polyethylene Terephthalate (PET) market size growth is fueled by urbanization and evolving consumer preferences. Despite urban growth, Myanmar remains mainly rural with only 15 million individuals living in cities. This trend is likely to change with projections suggesting that 7.1 million people from rural areas will migrate to urban centers by 2050. This rapid urban development will lead to changes in consumer behavior with an increasing demand for packaged foods and bottled water which further driving Myanmar PET market growth.

With 54 million people, Myanmar consumes an estimated two billion bottles made from PET each year which amounts to 40,000 tons. Demand for bottled water in Myanmar is fueled by concerns about water quality especially in urban regions where drinkable tap water is not readily available. Urban growth and higher disposable income also contribute to the increased preference for bottled water driven by convenience and health benefits. In addition, improved retail infrastructure has increased access which makes bottled water a regular choice for daily hydration. PET bottles have seen a sharp rise in market share in recent years as they replace glass bottles and cans. They are predominantly used as non-returnable packaging solutions.

Income levels in the country are also showing a slight increase with the Myanmar Economic Monitor by the World Bank expects GDP to grow by one percent by March 2025. With increasing disposable income, Myanmar is expected to see a 10 to 15% annual growth in per capita PET consumption. With the collection percentage for PET bottles is 64%, the country presents strong opportunities for growth in the plastic recycling market.

Recycling efforts are on the rise to tackle environmental issues in the country with the government working on a National Plastic Action Plan. The NPAP seeks to reshape Myanmar’s plastic usage and waste management strategies while aiming for a circular economy in 2035. It also supports regional initiatives including the ASEAN Regional Action Plan for Combating Marine Debris. Its main objective is to eradicate plastic pollution by fostering a resource-efficient economy that integrates circular practices and traditional knowledge across the plastic life cycle. PET is entirely recyclable and can be processed multiple times. As Myanmar enhances its plastic recycling initiatives, the PET market is thereby expected to experience significant growth in the coming years.

Based on type, PET in Myanmar can be categorized into virgin and recycled. Recycled PET can become an effective substitute for externally sourced virgin PET which helps reduce Myanmar’s dependence on imports. Recycled plastics are derived from the repeated reprocessing of virgin pellets or reusing the same material source. Virgin PET is created from raw petrochemical sources including natural gas and crude oil which results in a plastic resin with high purity. While virgin PET is valued for its strength and clarity, recycled PET has made impressive progress in bridging the quality gap. For various uses particularly in textiles and non-food packaging, rPET can deliver the same performance. This enables businesses to uphold product quality and opt for a sustainable choice which resonates with customers.

Based on application, packaging is the dominant segment in Myanmar PET market. Transparency and recyclability nature in PET have made it a popular choice for beverage packaging. In comparison to beverage cartons or cans, its clear nature enables the beverage to be visible. Its durability also offers a distinct benefit over the fragility of glass bottles. Beyond bottled water, PET is also suitable for packaging products like personal care items and cosmetics. Consumer advocacy groups are urging brand owners and government to impose restrictions on single-use plastics in packaging. The growing sentiment is thereby prompting brand owners to seek recyclable polymer packaging with higher recycled content including PET which further fuels segment growth.

Top Market Players

Some major companies in the market are MM Interplast, Four Seasons FZE, Commercial Plastics Co, Dong Peng Plastic, among others.

Key Development

• • In 2023, Commercial Plastics Co in Yangon initiated a recycling facility for PET bottle which is equipped with systems from the Sorema unit of the Italian company Previero. The system features a prewashing module designed to remove labels and guarantee optimal surface cleaning.

Segments covered in the Report:

Myanmar PET Market has been segmented on the basis of Type, Application. Based on the Type, the market is segmented into Virgin and Recycled. Based on the Application, the market is segmented into Packaging, Automotive, Construction, Medical, and Others.

Market Segmentation

Myanmar PET Market by Type

• • Virgin
  • Recycled

Myanmar PET Market by Application

• • Packaging
  • Automotive
  • Construction
  • Medical
  • Others

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• • MM Interplast
  • Four Seasons FZE
  • Commercial Plastics Co
  • Dong Peng Plastic