Vietnam's Plastic Jerry Can Industry grows with demand in manufacturing, oil & gas, and food. Enhanced features enhance efficiency and trust.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 13, 2023 /EINPresswire.com/ -- The Plastic jerry can sales in Vietnam are set to be valued at US$ 108.6 million in 2023 and are projected to reach US$ 155.4 million by 2033. Revenue is anticipated to expand at a CAGR of 3.6% over the forecast period.

The plastic jerry can business recorded a CAGR of 2.3% during the historical period. It reached a value of US$ 104.5 million in 2022 from US$ 95.5 million in 2018.

It is projected that the space for jerry cans in Vietnam will expand at a consistent rate over the course of the forecast period. Growing manufacturing and construction sectors, as well as the urbanizing and industrializing populations, are anticipated to increase demand for jerry cans. These factors are especially notable in several emerging nations. Furthermore, the expanding chemical and oil & gas sectors are anticipated to positively influence sales expansion.

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Jerry cans are currently utilized for the storage of a variety of liquid goods, such as chemicals, oil, gasoline, and medications. The oil & gas sector is anticipated to gain from the rising energy consumption in several emerging nations worldwide, which will lead to a notable increase in the business for jerry cans in the forecast years.

Jerry cans come with in-build equipment, which gives an advantage to the end-users and creates trust. Recently, manufacturers have adopted several features such as anti-grip mechanisms, flow control valves, or flexible nozzles that minimize fuel spillage to further enhance the efficiency of usage and transportation of jerry cans.

The food and beverage sector is gaining more traction in Vietnam due to the stringent regulatory framework from the administration. The packaging sector is adopting several changes to reduce contamination by weak packaging methods. Rigid packaging solutions such as plastic jerry cans are projected to witness high demand as these provide greater convenience to consumers and retailers.

Key Takeaways from Vietnam Plastic Jerry Can Business Report:

South Vietnam is estimated to lead by creating a revenue of more than US$ 83.0 million by the end of 2023.

North Vietnam is predicted to surge at a CAGR of 4.8% during the forecast period.

HDPE material is expected to lead during the forecast period and generate a revenue of US$ 115.2 million by 2033.

PET material is expected to lead with a CAGR of 5.3% in the forecast period.

Chemical sector encompassing paints and industrial coatings is predicted to offer a total monetary potential of US$ 9.5 million by 2033.

Based on capacity, the 20 L to 25 L segment is projected to gain an incremental opportunity of US$ 21.6 million by 2033.

“Adoption of plastic jerry cans in several sectors is driven by their convenience, lightweight nature, and cost-effectiveness. These are resulting in their increasing adoption in shipping and storage applications across Vietnam.” - Says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

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Competitive Landscape

Tan Phu Vietnam Joint Stock Company, Duy Tan Plastic Company, Alpla, Nhat Tien Manufacturing & Trading Company, Vietnhat Plastics, Chan Thuan Plastic, Zonepack Vietnam Industrial Company Limited, Vinh Thanh Plastic Company Limited, TP Plastics, Viettien Plastic Company Limited, Exel Plastech. The Tier 1 players hold 28 to 30% share of overall Vietnam’s plastic jerry can space.

Prominent companies are spending money on research and development to broaden their product offerings, which will propel the jerry can sector’s growth. Key firms are expanding their footprint through a range of strategic initiatives, such as product launches, acquisitions, increased investments, and collaborations.

Key Companies Profiled

Tan Phu Vietnam Joint Stock Company
Duy Tan Plastic Company
ALPLA Group
Nhat Tien Manufacturing & Trading Co.
Vietnhat Plastics
Chan Thuan Plastic
Zonepack Vietnam Industrial Company Limited
Vinh Thanh Plastic Company Limited
Tp Plastics
Viettien Plastic Company Limited
Exel Plastech
Oriental Plastic Company
Thien Phong Trade Promotion Company Limited
Thuan thiên Co., Ltd
Thanh Phuc Plastic
Hiep Thanh Plastic Production And Trading Joint Stock Company

For instance,

In 2022, FLSmidth announced its partnership with a start-up named Tontoton.

In 2021, the first coffee bio-composite in the world, developed by AirXCoffe, can take the role of single-use plastic.

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Vietnam Plastic Jerry Can Industry Outlook by Category

By Material:

HDPE
PET
PP
PVC

By Capacity:

Below 20 L
1 L to 5 L
5 L to 10 L
10 L to 20 L
20 L to 25 L
Other Customized Capacities (Above 25 L)

By End-use:

Oleo-chemicals
Food and Beverage
Flavors and Fragrances
Paints, Industrial Coatings, Chemicals
Petroleum and Lubricants
Pharmaceuticals
Agrochemicals
Others (Cosmetics, Personal Care, Household)

By Sub-region:

South Vietnam
Central Vietnam
North Vietnam

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
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