MYANMAR PLASTIC MARKET

Myanmar plastic market is projected to grow at a solid CAGR of 6.0% during the forecast years till 2031 driven by the industrial expansion and urbanization coupled with rising demand across industries.

Major Market Drivers and Emerging Trends

Myanmar plastic market size growth is propelled by the rapid industrial and urban development taking place in the country. Urbanization is driving a rise in construction projects which in turn is boosting the demand for plastic pipes and building materials. Rising disposable income and shifting consumer preferences are also contributing to the expansion of consumer goods along with packaging sectors which further foster the need for plastics. According to a nonprofit organization addressing plastic waste Thant Myanmar, the country imports over 600,000 tons of plastic annually primarily in the form of disposable packaging and plastic bags. During the covid pandemic, plastic bag and bottle usage surged as people were only allowed to order take-out from restaurants which often used plastics for food packaging.

Plastics are also important in numerous sectors not only in packaging but also electronics and automotive. Plastics are synthetic substances derived from polymers and are extensively used in diverse applications because of their flexibility along with durability.

Furthermore the growing focus on waste recycling and disposal creates opportunities for investment in advanced recycling infrastructure and technologies. In the last ten to 15 years, modern recycling facilities have been established with input volumes reaching hundreds of tons per month. The government has also ordered that single-use plastic bottles no longer be used in official meetings or ceremonies and that municipalities implement four separate bins for sorting waste into plastic, wet, dry, and hazardous categories.

The growing consumer preference for bioplastics is also expected to create substantial growth prospects. Bioplastics are produced using renewable sources with the market in Myanmar largely relying on main crops including corn and various natural oil from plants. Bioplastics are fully recyclable with prices unaffected by oil market fluctuations. They boast impressive qualities including wear resistance and high strength. They also have dimensional and thermal stability along with resistance to chemicals in both lubricated and dry conditions. Their minimal electrostatic charge characteristic also makes them suitable for use in consumer electronics and the automotive sector.

Based on type, PET is the most common plastic used primarily for food and beverage product packaging. Portability and design flexibility are some characteristics that make PET ideal for packaging. Additionally, it is lightweight and has the ability to protect against moisture. PET is also ideal for food packaging due to its low toxicity along with the lack of heavy metals and BPA. Polyamide is also a notable plastic material which is frequently used in the packaging industry.

Based on end-use industry packaging is the dominant segment in the market. Plastics are gaining popularity in the packaging sector because of their excellent chemical resistance and recyclability. It also possesses excellent moldability and strong mechanical properties. Plastics are widely used in the packaging industry for various applications including bottled water packaging and shopping bags. The packaging industry offers the biggest development opportunities for developing economies including Myanmar. As the industry modernizes, the need for flexible packaging rises which is spurred by increasing foreign investments in packaging and processing technology.

Top Market Players

Several notable players within the market include Indorama Ventures, Tokyo Pipe, Popular Plastic, 2-GO Packaging, among others. Dominant market players are adopting various strategies to grow their market share and solidify their position within the industry.

Key Developments

• • In 2023 a plastic recycling equipment manufacturing company based in Italy Sorema launched a PET cleaning and waste recycling plant at its Yangon facility in Myanmar.
  • In 2022 Coca Cola Myanmar unveiled bottles crafted from 100% recycled materials except for caps and labels. This makes it the first beverage packaging made from fully recycled plastic in Myanmar.

Segments covered in the Report:

The Myanmar Plastic Market has been segmented on the basis of type and end-use industry. Based on the type, the market is segmented into polypropylene, polyethylene, polyvinyl chloride, polyethylene terephthalate, polycarbonate, polyamide, polystyrene, polyurethane and others. Based on the end-use industry, the market is segmented into automotive & transportation, packaging, consumer goods, infrastructure & construction, healthcare & pharmaceuticals, electrical & electronics, others.

Market Segmentation

Myanmar Plastic Market by Type

• • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polyvinyl Chloride
  • Polyamide
  • Polycarbonate
  • Polyurethane
  • Polystyrene
  • Others

Myanmar Plastic Market by End-Use Industry

• • Packaging
  • Automotive & Transportation
  • Infrastructure & Construction
  • Consumer Goods
  • Healthcare & Pharmaceuticals
  • Electrical & Electronics
  • Others

Myanmar Plastic Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Indorama Ventures
  • Tokyo Pipe
  • Popular Plastic
  • 2-GO Packaging