Page 35 - Plastics News Issue - January 2025

INTERNATIONAL NEWS

businesses seek diversified and stable sources strategic location in Asia and its role in regional
for their inputs. supply chains. However, competition from other
suppliers, including China and other ASEAN na-
Environmental and sustainability considerations tions, remains a challenge. Additionally, navigat-
are also critical. As global concerns over the ing Vietnam’s regulatory landscape will be cru-
environmental impact of plastics increase, Viet- cial for sustained market access.
nam is implementing stricter regulations while
committing to international climate goals. Con-
sequently, these regulatory changes could in-
fluence the types of plastics Vietnam imports,
shifting demand toward recyclable and biode-
gradable materials. Moreover, this transition cre-
ates opportunities for the U.S. to export envi-
ronmentally friendly materials tailored to meet
Vietnam’s evolving sustainability requirements. Vietnam’s top five plastic exports accounted for
nearly 60% of U.S. imports in 2023, highlighting
Technological advancements in plastics produc- their critical role in meeting U.S. demands. Taken
tion and recycling will play a pivotal role in re- from 2023 Plastics Global Trends Report.
defining trade patterns. Vietnam’s investment in
advanced manufacturing technologies and pro- For Vietnam, the growing imports from the U.S.
cessing capabilities could enable it to emerge present an opportunity to strengthen its manu-
as a hub for high-value plastic goods. Such ad- facturing ecosystem. Yet, achieving this requires
vancements could also help balance its trade re- investments in technology, infrastructure, and
lationship with the U.S. by increasing the export workforce development to fully capitalize on its
of finished products. potential.

Opportunities and Challenges Source – Plastics Engineering

The future of the U.S.-Vietnam plastics trade of-
fers both opportunities and challenges. For U.S.
exporters, Vietnam represents a burgeoning
market for raw materials, particularly given its

January 2025 PLASTICS NEWS 35