Vietnam Recycling Market Size
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 2.66 Billion |
| Market Size (2030) | USD 3.36 Billion |
| CAGR (2025 - 2030) | 4.79 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vietnam Recycling Market Analysis
The Vietnam Recycling Market size is estimated at USD 2.66 billion in 2025, and is expected to reach USD 3.36 billion by 2030, at a CAGR of 4.79% during the forecast period (2025-2030).
While the private sector plays an active role in waste management in Vietnam, there is still untapped potential, primarily due to gaps in equipment and technology. Approximately 17 million tons of solid waste remain underutilized, signaling a missed opportunity for the next cycle.
Municipal solid waste (MSW) accounted for 49.5% of Vietnam's total solid waste generation in 2022. Rapid urbanization is driving this growth, which is projected to continue at a rate of 13% annually until 2025.
Vietnam produced 26.1 million tons of MSW in 2022, placing it third in the Southeast Asian region. Yet, with only 15% of solid waste being recycled or reused, there's a significant opportunity for new investors in the market.
Vietnam's rising waste discharge, juxtaposed with its relatively low expenditure on waste treatment, underscores the urgent need for investments in waste management infrastructure. As highlighted by the World Bank in March 2023, Vietnam's expenditure on domestic waste treatment stands at a mere 0.23% of its GDP, trailing the global average of 0.5%.
Given the surge in waste generation, urban and industrial provinces in Vietnam are struggling with their existing waste treatment facilities. However, the country's recycling industry is set for substantial growth, bolstered by recent regulatory advancements like the EPR regulations, initiatives for source waste sorting, and strong commitments from major brand owners.
The Vietnamese government has set ambitious targets for waste-to-energy (WtE) initiatives, aiming for a capacity of 1,212 MW by 2030. They envision treating 80% of generated waste with WtE technology, with aspirations for 100% treatment and an end to landfilling. The WtE segment is poised for significant growth, attracting both local and foreign investors, including notable players like Geleximco, AMACCAO Group, and JFE Engineering Corp., marking a decisive move towards sustainable waste management solutions.
In conclusion, Vietnam's Recycling sector presents a landscape ripe with opportunities. The combination of rapid urbanization, regulatory support, and increasing private sector involvement sets the stage for significant advancements. Addressing the current gaps in technology and infrastructure will be crucial for Vietnam to fully harness its waste management potential, paving the way for a more sustainable future.
Vietnam Recycling Market Trends
Increase in Plastic generation dominating the market
A recent report highlights a troubling rise in plastic waste across various provinces and cities in Việt Nam, with HCM City and Hà Nội taking the lead. The report reveals that urban areas contribute 1.6 million tonnes of plastic waste, while rural areas account for an additional 1.3 million tonnes.
The Hồng (Red) River Delta and the Southeast region stand out as the country's primary contributors to plastic waste. They not only generate the highest volumes but also exhibit elevated per capita plastic waste rates when compared to other regions. In urban locales, individuals produce between 40 to 50kg of plastic waste annually. Coastal provinces and cities, notably, generate more plastic waste than their mountainous counterparts.
Hà Nội and HCM City top the list for plastic waste generation. Tourist-centric cities and key economic hubs, including HCM City, Bình Dương, Ninh Thuận, and Quảng Ninh, report per capita plastic waste figures averaging between 40-44kg/person/year, surpassing other urban centers.
This rising tide of plastic waste correlates with evolving social and economic trends, alongside changing consumer habits favoring plastics. The use of single-use plastics, such as utensils and food containers, has notably surged. Yet, in stark contrast to this uptick, initiatives for collecting and recycling plastic waste, especially in terms of recycling, remain alarmingly minimal. Consequently, a substantial amount of plastic waste finds its way into the environment.
Out of the total 2.4 million tonnes of plastic waste collected, urban areas contributed 1.55 million tonnes, while rural regions added 0.85 million tonnes. A pronounced disparity in collection rates is evident, with notable differences between rural and urban locales, as well as among provinces and cities nationwide.
Experts point out that regions such as the northern midlands, mountainous zones, central highlands, and the Mekong Delta lag in collection rates, underscoring the urgent need for enhanced waste management strategies.
Most of the plastic waste collected is buried or incinerated, and recycling rates remain disappointingly low. Of the 2.4 million tonnes of plastic waste collected, only 0.9 million tonnes were sorted for recycling, and a mere 0.77 million tonnes made it through the recycling process.
Due to insufficient collection efforts nationwide, over 420,300 tonnes of plastic waste were released into the environment. While the private sector has actively engaged in solid waste management in Vietnam, there's a notable gap in equipment and technology, leaving much potential untapped. Alarmingly, Vietnam is not fully capitalizing on its resources, with around 17 million tons of solid waste still available for the next cycle.
The Vietnamese recycling market faces significant challenges, including low collection and recycling rates, inadequate infrastructure, and a lack of advanced technology. To address these issues, Vietnam must implement comprehensive waste management strategies, invest in modern recycling technologies, and encourage greater participation from both the public and private sectors. By doing so, Vietnam can reduce environmental pollution, conserve resources, and move towards a more sustainable future.
The increase in plastic generation is dominating the market, overshadowing Vietnam's recycling efforts. Without significant improvements in waste management and recycling infrastructure, the country will continue to struggle with the environmental and economic impacts of plastic waste.
Packaging segment dominates the market
Vietnam's burgeoning consumer base is driving a rising demand for packaging, particularly in plastics and paper. This surge is largely fueled by heightened consumption across sectors such as food and beverages, retail, and e-commerce.
Heightened awareness of environmental challenges is steering a pronounced shift towards recycled plastics in packaging, construction, and consumer goods. Moreover, government initiatives and corporate sustainability objectives are reshaping market dynamics and promoting the integration of post-consumer recycled plastics across diverse applications.
In 2023, Vietnam's e-commerce sector is projected to produce over 300,000 tons of packaging waste, including cardboard, foam, and plastic shockproof materials, raising environmental alarms. In the same year, the delivery of 1.8 billion parcels necessitated 160,000 tons of cardboard and 145,000 tons of plastics, such as foam and bubble wrap.
Vietnam's plastic packaging usage per parcel is 2.7 times that of China. While China utilizes 157,000 tons of packaging (18% plastic) for its billion parcels, Vietnam's consumption stands at 166,000 tons, with a majority of plastic.
In response to growing environmental concerns and consumer demand for sustainability, manufacturers are increasingly integrating post-consumer recycled plastics into their offerings. Furthermore, government-led initiatives and regulations championing recycling and the adoption of recycled materials are instrumental in steering this market. Given the escalating environmental awareness, Vietnam's post-consumer recycled plastics market is on the brink of significant expansion.
The packaging end-user application dominates Vietnam's recycling market due to the substantial volume of waste generated by the e-commerce sector and other industries. This dominance is expected to continue as both government policies and consumer preferences increasingly favor sustainable packaging solutions. Consequently, the market for post-consumer recycled plastics in packaging is poised for robust growth, reinforcing its pivotal role in Vietnam's recycling landscape.
Vietnam Recycling Industry Overview
The Vietnam recycling market is moderately competitive, with growth potential driven by policy support and increasing environmental awareness. Key players who adapt to sustainability trends and technological innovations are well-positioned for success. The market is characterized by a rising emphasis on sustainability and technological advancements. Government initiatives promoting recycling and the adoption of recycled materials are also influencing the competitive environment. Companies are leveraging these opportunities to improve their product offerings, enhance operational efficiencies, and expand their market share. Players include DUYTAN Recycling Corporation, VietCycle Corporation, A Chau Environment Co. Ltd, Vietnam Waste Solutions Limited Company, and GreenHub Vietnam.
Vietnam Recycling Market Leaders
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DUYTAN Recycling Corporation
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VietCycle Corporation
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A Chau Environment Co. Ltd
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Vietnam Waste Solutions Limited Company
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GreenHub Vietnam
*Disclaimer: Major Players sorted in no particular order
Vietnam Recycling Market News
- December 2024: Recover, a materials science company based in Spain, has inaugurated a new facility in Vietnam. This move is a strategic step in its global rollout of textile recycling technology. Set to commence operations in early 2025, the facility is strategically situated in Dong Nai province, near Vietnam's key textile waste sorting and manufacturing centers.
- February 2024: SOREMA, a recycling systems division of Previero N. SRL, announced that its post-consumer PET bottle washing and recycling plant at Commercial Plastics Co. (CPC) in Yangon, Myanmar, has met its quality and quantity benchmarks. This achievement paves the way for a second plant in Viet Nam. The machines, constructed with premium components, feature a prewash module designed for label removal and thorough surface cleaning. This advanced technology not only enhances bottle sorting but also minimizes wear and tear across the entire line. Notably, it doesn't compromise the delabeler's lifespan, with its first maintenance scheduled only after several months.
Vietnam Recycling Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Rising Promise of Waste-to-Energy Innovations
4.3 Market Restraints
4.3.1 Limited availability of modern recycling facilities and technology
4.4 Market Opportunities
4.4.1 Investments in advanced technologies such as pyrolysis for plastics and AI-based waste sorting systems
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of Geopolitics and Pandemic on the Market
5. MARKET SEGMENTATION
5.1 By Material
5.1.1 Plastic
5.1.2 Metal
5.1.3 Paper and Cardboard
5.1.4 Glass
5.1.5 E-Waste
5.1.6 Others
5.2 By Recycling Process
5.2.1 Collection
5.2.2 Mechanical Recycling
5.2.3 Chemical Recycling
5.2.4 Biological Recycling
5.3 By End Use Application
5.3.1 Packaging
5.3.2 Construction Material
5.3.3 Energy Recovery
5.3.4 Consumer Goods
5.3.5 Others
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 DUYTAN Recycling Corporation
6.2.2 VietCycle Corporation
6.2.3 Urenco (Hanoi Urban Environment Company)
6.2.4 GreenHub Vietnam
6.2.5 Dong Tien Paper Mill
6.2.6 Vietnam Australia Environment JSC
6.2.7 Vietnam Clean Environmental Treatment Co. Ltd
6.2.8 A Chau Environment Co. Ltd
6.2.9 Vietnam Waste Solutions Limited Company
6.2.10 Viet Xanh*
- *List Not Exhaustive
6.3 Other Companies
7. FUTURE OF THE MARKET
8. APPENDIX
Vietnam Recycling Industry Segmentation
The recycling market encompasses the industry dedicated to the collection, processing, and transformation of waste materials into new, reusable products. This market is pivotal in mitigating environmental pollution, conserving natural resources, and championing sustainable development. It addresses diverse waste streams, such as plastics, metals, paper, glass, e-waste, and organic waste. By doing so, it bolsters a circular economy, ensuring materials are reused and remain in circulation for extended periods.
A comprehensive background analysis of the Vietnam Recycling market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The Impact of Geopolitics and Pandemic on the Market has also been incorporated and considered during the study.
Vietnam recycling market is segmented by material (plastic, metal, paper and cardboard, glass, e-waste, others), by recycling process (collection, mechanical recycling, chemical recycling, biological recycling), and by end use application (packaging, construction material, energy recovery, consumer goods, others). The report offers market size and forecasts for the Vietnam recycling market in value (USD) for all the above segments.
| By Material | |
| Plastic | |
| Metal | |
| Paper and Cardboard | |
| Glass | |
| E-Waste | |
| Others |
| By Recycling Process | |
| Collection | |
| Mechanical Recycling | |
| Chemical Recycling | |
| Biological Recycling |
| By End Use Application | |
| Packaging | |
| Construction Material | |
| Energy Recovery | |
| Consumer Goods | |
| Others |
Vietnam Recycling Market Research FAQs
How big is the Vietnam Recycling Market?
The Vietnam Recycling Market size is expected to reach USD 2.66 billion in 2025 and grow at a CAGR of 4.79% to reach USD 3.36 billion by 2030.
What is the current Vietnam Recycling Market size?
In 2025, the Vietnam Recycling Market size is expected to reach USD 2.66 billion.
Who are the key players in Vietnam Recycling Market?
DUYTAN Recycling Corporation, VietCycle Corporation, A Chau Environment Co. Ltd, Vietnam Waste Solutions Limited Company and GreenHub Vietnam are the major companies operating in the Vietnam Recycling Market.
What years does this Vietnam Recycling Market cover, and what was the market size in 2024?
In 2024, the Vietnam Recycling Market size was estimated at USD 2.53 billion. The report covers the Vietnam Recycling Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Recycling Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Vietnam Recycling Industry Report
Statistics for the 2025 Vietnam Recycling market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Recycling analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
