Myanmar Plastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Myanmar Plastics Market is segmented by Type (Traditional Plastics, Engineering Plastics, and Bioplastics), Technology (Blow Molding, Extrusion, Injection Molding, and Other Technologies), and Application (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Housewares, Furniture and Bedding, and Other Applications).

Market Snapshot

Myanmar Plastics Market Overview
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >6 %

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Market Overview

The Myanmar plastics market was valued at over USD 800 million in 2020, and the market is projected to register a CAGR of more than 6% during the forecast period (2021-2026).

COVID-19 has largely affected the raw material import, as the Myanmar plastic market mostly relies on imported raw materials for plastic production. The packaging industry was highly impacted negatively. This was due to prime concern about the hygiene and safety of reusable packaging. The construction sector slowed by 30% during the early stages of the COVID-19 pandemic due to shortages of imported building materials and cash flow. These factors are expected to act as a barrier to the market.

  • Over the long term, the increasing demand from the construction industry is driving the market growth.
  • Over-reliance on imports of raw materials and finished plastics is expected to hinder the growth of the market.
  • The packaging industry is expected to dominate the plastics market in Myanmar.

Scope of the Report

A polymer that can be shaped when soft and then molded into shape while soft and then set into a rigid or slightly elastic form is said to be plastic. The market is segmented based on the type, technology, application, and geography. By type, the market is segmented into traditional plastics, engineering plastics, and bioplastics technology blow molding, extrusion, injection molding, and other technologies. By application, the market is segmented into packaging, electrical and electronics, building and construction, automotive and transportation, housewares, furniture and bedding, and other applications. The report offers market size and forecasts for the Myanmar plastics market in Revenue (USD million) and for all the above segments.

Type
Traditional Plastics
Engineering Plastics
Bioplastics
Technology
Blow Molding
Extrusion
Injection Molding
Other Technologies
Application
Packaging
Electrical and Electronics
Building and Construction
Automotive and Transportation
Housewares
Furniture and Bedding
Other Applications

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Key Market Trends

Bio-plastics Segment is Expected to Witness the Fastest Growth

  • Bioplastics are bio-based plastic-like materials made from renewable materials like corn, potato, cereals, sugar cane, and other vegetables. The bioplastics market in Myanmar primarily depends on major crops like corn and other plant oils. Bioplastics are 100% recyclable, and their prices are not in any way influenced by oil prices.
  • Due to the low electrostatic charging properties, bioplastics are used in consumer electronics, leisure goods, and also the automotive industry. They have some exceptionally good properties, such as wear-resistance with high strength, thermal and dimensional stability, and also chemical resistance in both dry and lubricated environments.
  • Bioplastics are categorized into two types: biodegradable and non-biodegradable bioplastics. They have a really good demand for packaging materials, which are used for wrapping premium and branded organic food products.
  • For developing economies like Myanmar, the packaging sector has the greatest potential for development. The modernization of the industry is driving the demand for flexible packaging due to the growing foreign investments by domestic food processors in processing and packaging equipment.
  • Government regulations such as: At the municipal level, the Yangon City Development Committee banned businesses from manufacturing, importing, trading, or distributing high-density polyethylene (HDPE) plastic bags for environmental reasons in 2009. In 2011, the Mandalay City Development Committee banned polyethylene bags. This kind of regulation helped in the expansion of bio-plastics in Myanmar.
  • Owing to the aforementioned reasons, the usage of bioplastics in plastics applications is increasing in Myanmar.
Myanmar Plastics Market Key trends

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Growing Demand from the Packaging Industry

  • Packaging accounts for the largest application segment in the Myanmar 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 plastics in the packaging segment are as follows: packaging of bottled water and flexible packagings, such as sausage skin and flexible foils, such as shopping bags.
  • Polyethylene terephthalate (PET) is one of the majorly used plastics for packaging purposes, mostly in the food and beverage industry. Portability, design flexibility, ease of cleaning, lightweight, 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.
  • According to plastic atlas Myanmar 2020, a total of 3.6 billion PET bottles are consumed a year, including 2.5 million for water bottles alone.
  • The usage of plastics for packaging products is expected to experience fairly steady demand during the forecast period.
Myanmar Plastics Market Growth Rate By Region

Competitive Landscape

The Myanmar plastics market is fragmented with the top five players accounting for a small chunk of the market, with a huge dependency on import share. Some major companies in the market include Indorama Ventures Public Company Limited, SHWE MI INDUSTRIAL CO. LTD, Tokyo Pipe Co. Ltd, Myit Shwe Wah Industry Co. Ltd, and POPULAR PLASTIC GROUP, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Construction Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Over-reliance on Imports of Raw Materials and Finished Plastics

      2. 4.2.2 Unfavorable Conditions Arising Due to the Impact of COVID-19

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

    6. 4.6 Price Analysis

    7. 4.7 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Traditional Plastics

      2. 5.1.2 Engineering Plastics

      3. 5.1.3 Bioplastics

    2. 5.2 Technology

      1. 5.2.1 Blow Molding

      2. 5.2.2 Extrusion

      3. 5.2.3 Injection Molding

      4. 5.2.4 Other Technologies

    3. 5.3 Application

      1. 5.3.1 Packaging

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Building and Construction

      4. 5.3.4 Automotive and Transportation

      5. 5.3.5 Housewares

      6. 5.3.6 Furniture and Bedding

      7. 5.3.7 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Cherry Plastic Enterprise

      2. 6.4.2 Great Foundation Plastic Manufacturing Factory (Myanmar)

      3. 6.4.3 Indorama Ventures Public Company Limited

      4. 6.4.4 Tokyo Pipe Co. Ltd.

      5. 6.4.5 Myit Shwe Wah Industry Co. Ltd

      6. 6.4.6 POPULAR PLASTIC GROUP

      7. 6.4.7 SHWE MI INDUSTRIAL CO. LTD

      8. 6.4.8 Tahsin Industrial Corp.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Myanmar Plastics Market market is studied from 2016 - 2026.

The Myanmar Plastics Market is growing at a CAGR of >6% over the next 5 years.

The Myanmar Plastics Market is valued at 800 Million USD in 2016.

Indorama Ventures Public Company Limited, SHWE MI INDUSTRIAL CO.,LTD, Tokyo Pipe Co. Ltd, Myit Shwe Wah Industry Co. Ltd., POPULAR PLASTIC GROUP are the major companies operating in Myanmar Plastics Market.

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