Fierce competition for plastics sector
Plastic firms in Việt Nam face fierce competition and risk being acquired by foreign companies, experts said on November 2 at a conference in HCM City. Phạm Văn Bắc, deputy head of the construction ministry’s department of building materials, said the plastic industry had the potential to grow as plastic consumption in the country is still low, even as he acknowledged the challenges the sector faces. As per the National Housing Development Strategy, annual housing sector growth is expected to be 5 to 10 per cent, equivalent to 1-1.2 million sq.m, which will increase the demand for building materials, including plastic. There are two main products in building plastics – plastic pine and plastic profile – these are used for door and window systems, instead of wood and steel. Statistics from the ministry show that a house has 40sq.m of doors and windows, on average. Of this, 35 per cent, or 15sq.m, is plastic. In addition, 80 to 90 per cent of construction projects have been using plastic doors and windows.
