Market Size of Myanmar Plastics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 317.58 kilotons |
| Market Volume (2029) | 393.30 kilotons |
| CAGR (2024 - 2029) | 4.37 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Myanmar Plastic Market Analysis
The Myanmar Plastics Market size is estimated at 317.58 kilotons in 2024, and is expected to reach 393.30 kilotons by 2029, growing at a CAGR of 4.37% during the forecast period (2024-2029).
- The COVID-19 pandemic had a negative impact on the Myanmar plastics sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
- Over the long term, increasing demand from the building and construction industry and a surge in the adoption of food and beverage packaging are driving market growth.
- Over-reliance on imports of raw materials and finished plastics and government regulations on the use of plastics is expected to hinder the growth of the market.
- However, the emergence of plastic recycling processes and consumer inclination towards the use of bioplastics is projected to offer significant growth opportunities.
- The packaging industry is expected to dominate the plastics market in Myanmar.
