Market Size of South-East Asia (SEA) Plastics Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 30.48 Million tons |
| Market Volume (2029) | 38.36 Million tons |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Plastics Market Analysis
The South-East Asia Plastics Market size is estimated at 30.48 Million tons in 2024, and is expected to reach 38.36 Million tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic severely affected countries across Southeast Asia. The pandemic affected the production and supply of plastics, thereby affecting the market. However, the demand from the packaging segment surged due to the increasing use of online food and retail e-commerce services during the pandemic. However, post-COVID pandemic, the market registered a significant growth rate due to rising demand from packaging, electrical and electronics, building and construction, automotive, and transportation industries.
- Over the medium term, The rising demand from the food and beverage packaging, and the rapid increase in the downstream processing capacity additions are expected to drive the market's growth.
- However, government regulations on the use of plastics and over-reliance on the imports of raw materials are the major factors hindering the growth of the studied market.
- The potential growth in the aerospace sector and the increasing usage of bio-degradable plastics are expected to offer various opportunities for the growth of the market.
