Thailand Plastic Bottles Market Size

Thailand Plastic Bottles Market Analysis

The Thailand Plastic Bottles Market size is estimated at USD 225.51 million in 2024, and is expected to reach USD 281.61 million by 2029, growing at a CAGR of 4.54% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 0.24 million tonnes in 2024 to 0.3 million tonnes by 2029, at a CAGR of 4.45% during the forecast period (2024-2029).

This market study covers plastic bottles crafted from polyethylene, polyethylene terephthalate, and polyphenylene. The Thai market for plastic bottles is on the rise, and it plays a significant role in bolstering the nation's economy.

• Plastic bottles, known for their portability and lightweight nature, have become a favored choice for packaging single-serving and on-the-go food and beverage items. Plastic bottles, known for their portability and lightweight nature, have become a favored choice for packaging single-serving and on-the-go food and beverage items. Several factors, such as ongoing advancements in plastic manufacturing technology and heightened investments in the Thai plastics market, push market growth.
• Thailand's economic development has increased the production and consumption of plastic products. The industry is witnessing growth owing to the increasing demand for suitable packaging materials that can be used to package several products across different end-user verticals. The rising demand from the retail sector for packaged products with extended shelf life and the consumers' demand for products are augmenting the plastic bottle market's sales.
• According to the president of the Thai E-Commerce Association, the e-commerce market in Thailand was anticipated to grow from 8% to 13% in 2023. The market value of e-commerce in the country was recorded at THB 770 billion (USD 20.81 billion) in 2022, reflecting an 8% Y-o-Y increase, and it is projected to reach THB 870 billion (USD 23.51 billion).
• The country also has a few organizations to recycle plastic bottles. For instance, ThaiPlastic Recycle Group Co. Ltd specializes in modern and standardized recycling processes. The company purchases used PET plastic bottles, transforming them into products like plastic flakes (rPET and pet flakes) and cap flakes (rHDPE flakes and rPP flakes). These processed materials serve as raw inputs for diverse sectors, including the PET plastic film and PET plastic box industries.
• According to the Office of Industrial Economics of Thailand, during the first quarter of 2023, the plastics industry experienced a reduction in export volume compared to the previous quarter. The primary reason was the decrease in market demand from significant trading partners, including the United States, Vietnam, and China. The production rate also declined, mainly due to increased crude oil prices and rising costs of raw materials used in manufacturing goods. As a result, business operators opted to adopt a cautious approach and waited to observe the situation regarding raw material prices and the global economic climate.