Vietnam PET Preforms Market Expected to Reach $218.1 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research titled, “Vietnam PET Preforms Market by Type, Neck Size, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2032.”

The Vietnam PET Preform market was valued at $134.7 million in 2022, and is projected to reach $218.1 million by 2032, registering a CAGR of 5.1% from 2023 to 2032.

PET (Polyethylene Terephthalate) preforms are semi-finished products used in the manufacture of PET bottles and containers. These preforms are typically made through an injection molding process, and they serve as the initial form of the bottle before it is blown into its final shape. PET preforms are usually small, tubular shapes with a threaded neck, and they are characterized by their clarity, lightweight nature, and recyclability.

PET preforms play a crucial role in the beverage industry. They are used for the production of water bottles, soda bottles, and various other drink containers. Their lightweight and transparent properties make them an ideal choice for packaging beverages. In Vietnam, the beverage industry has seen substantial growth, leading to increase in demand for PET preforms.

PET preforms are widely used in the food industry for packaging items such as cooking oil, sauces, ketchup, and other liquid or semi-liquid products. The material's resistance to various chemicals and its ability to maintain the freshness and quality of food products have made it a popular choice in this sector.

PET preforms are used for packaging cosmetics and personal care products such as shampoo, body wash, and lotions. Their transparency and the ability to shape them into aesthetically pleasing designs make them attractive to consumers. PET preforms are also used for packaging household and cleaning products such as detergents, cleaning solutions, and air fresheners. Their durability and chemical resistance make them suitable for such applications.

Vietnam has become a significant manufacturing hub for PET preforms. The country's strategic location in Southeast Asia, coupled with its cost-effective production capabilities, has attracted both domestic and international companies to establish manufacturing facilities for PET preforms in Vietnam. These facilities produce PET preforms for various industries.

The beverage industry in Vietnam is a major consumer of PET preforms. These preforms are used in the production of bottles for water, carbonated soft drinks, fruit juices, and other beverages. The Vietnam beverage market has experienced robust growth, driving the demand for PET preforms.

Rise in demand for packaged products drives the growth of Vietnam PET preforms market. PET preforms and containers offer numerous advantages over traditional glass packaging, including reduced shipping costs due to their lightweight nature and increased resistance to breakage during transportation. PET containers, which are produced from PET preforms, are less susceptible to breakage compared to glass containers. This quality is particularly beneficial during product transportation, minimizing the risk of damage and reducing associated costs. PET preforms are commonly used to create bottles for packaging various products like cooking oils, personal care items, and household cleaning agents. These bottles are known for their durability, leak-proof design, and the ability to be customized in terms of size and shape for different product types.

The Vietnam PET preform market is segmented on the basis of type, neck size, and, application. On the basis of type, the market is classified into ROPP, Standard PCO, Alaska, CTC Preforms, and others. By neck size, the market is categorized into lower, 25 Mm, 28 Mm, 29 Mm, and 30 Mm 38 Mm, and larger. On the basis of application, the market is divided into carbonated soft drinks, water, food, non-carbonated drinks, cosmetics & chemical, and others.

By type, Standard PCO is the fastest-growing segment in the Vietnam PET preform market in 2022. PET preforms are essentially small, tubular shapes of PET resin with a threaded neck design that corresponds to the PCO standard. They are heated and stretched to form the final bottle shape, making them a cost-effective and efficient choice for beverage packaging. PET preforms are the starting point for bottle production. They are first heated and then blown into the desired bottle shape. These preforms can be molded into various sizes and styles to accommodate different beverage products.

Based on neck size, 28 Mm is the fastest-growing segment in the Vietnam PET preform market in 2022. The 28mm neck size is particularly common in the beverage industry for applications like carbonated soft drinks, bottled water, and juices. The 28mm neck size is widely adopted in Vietnam's beverage industry due to its compatibility with standard bottle closures. This neck size is versatile and suits various types of beverages, making it a preferred choice for manufacturers.

Based on application, carbonated soft drinks is the fastest-growing segment in the Vietnam PET preform market in 2022. PET preforms have become the preferred choice for carbonated soft drink packaging in Vietnam due to their lightweight and durable nature, design flexibility, and environmental benefits. As the beverage industry in the country continues to grow, PET preforms are likely to play an increasingly crucial role in shaping the market, aligning with the broader trends towards more sustainable and cost-effective packaging solutions.

The major players operating in the Vietnam PET preforms market include Bao Van Plastic Joint Stock Company, Do Thanh Technology Joint Stock Company, Duy Tan Plastic Company, Hon Chuan Vietnam, Indorama Ventures Public Company Limited, Living Fountain Plastic Industrial Co., Ltd., Minh Hưng Group, SriThaiVietnam, Thanh Nghia PET Packaging Joint Stock Company, and Vinh Tai Plastic Production Trading Company Limited.

Key Findings Of The Study:

• By type, the standard PCO steel segment accounted for majority of the market share of the Vietnam PET preform market in 2022 and is expected to maintain its lead during the forecast period.
• By neck size, the 28 Mm segment accounted highest market share in the Vietnam PET preform market in 2022 and is expected to maintain its dominance till the end of the forecast period.
• Carbonated soft drinks is the fastest-growing application segment in the Vietnam PET preform market, expected to grow at a CAGR of 5.5% during 2022–2032.