Plastic industry towards recycling standards and circular economy development

VPA's report on plastic production and business activities in the first 6 months of 2022 said that by the end of June 2022, the country had over 3,300 plastic enterprises with over 250,000 employees; Plastic consumption per capita is about 52kg, compared to ASEAN countries and the world is much less. The industry's output reached 5.9 million tons, up 2.1% over the same period in 2021; revenue reached over USD 13.1 million, up 14.6%. However, input prices and costs increased from 10% to 30%.


Ho Duc Lam, Chairman of the Vietnam Plastics Association, said that after the Covid-19 pandemic, businesses have many both opportunities and challenges. As with plastic businesses, the US, EU, and Japanese markets increased import orders from Vietnamese suppliers because they were facing difficulties in plastic production and price increase; It is expected that by 2035, the proportion of plastic in machinery (cars, motorbikes, etc.) will increase to 35%. Especially, by the end of August, the United States will promote the opening of an aircraft assembly plant in Vietnam...


At the same time, the plastic industry faces many challenges, especially the treatment of plastic waste. Therefore, the first requirement is that the plastic industry technology must meet the standards and trends of circular economy development.


Regarding solutions and technologies to develop circular economy in the plastic industry, Mr. Nguyen Nhu Khue, General Director of Bong Sen Plastic Chemical Technology Company shared, currently plastic recycling technology has advanced to perfection. It is possible for separating printing ink, color classification, deodorization, cleaning at the same time to produce white and colored plastic materials. 


According to VPA, in Europe, plastic recycling businesses are supported with USD 409/ton of plastic waste. Currently, Vietnamese plastic recycling enterprises have to spend about 700 USD/ton for plastic waste. In order to contribute to facilitating these businesses to operate, VPA will accelerate the establishment of a Center for Collection and Recycling of Plastic Waste, through funding from multinational corporations that have cooperation relationships with VPA.