TEXTILE . PLASTIC . PACKAGING MYANMAR 2021

Myanmar ‘is a Promising market in Southeast Asia.
Population . 60 Million ( 2019 )
GDP Growth . 6.6% ( 2019) . Per Capital .5.6% ( 2019 )
Myanmar has the potential to quadruple its current GDP to US dollars 200 billion in 2030. The consumer class is expected to grow from 2.5 million in 2010 to 20 million in 2030 which could potently triple spending from USD 35 billion to 100 billion .The opportunities are immense . A growing consumer close largely unreached population of more than 60 million peoples and access to the greater neighboring markets of about 2.8 billion peoples.

“Myanmar the Future Sourcing Hubs for Textiles”
The garment industry in Myanmar has given significantly in the past five years,from an export value of $ 900 million in 2012 to $ 4.37 billion in the first 11 months of FY 2018-2019.The country now aims to reach an export value of $10 billion garments by 2024 besides creating over a million jobs for its unskilled and semi-skilled workers.

Myanmar Garment Manufacturing Association estimated – 600 member factories provide 500,000 workers.

After 2015, Myanmar’s garment exports have grown by almost $1 billion every year. This growth has been possible mainly due to the investments made by China and Vietnam in the country. Of late, both Chinese and Vietnam investors have been setting up factories in Myanmar. These countries produce their goods in Myanmar and send them to the EU which offers zero duty benefits on imports from Myanmar .
Myanmar has a very extensive workforce with extremely low wages,and this has attracted countries to invest in Myanmar .Myanmar is known. for its yarn ,fabric ,garment production .Over 1.1 million workers are currently employed in garment,textile ,footwear,and accessories factories across Myanmar .And tens of thousands indirectly work in the through logistics and transport services.
Meanwhile, as the number of garment factories in Myanmar increased last year, export volumes also increased as well.As per SMART Myanmar .
Europe is the most important market for Myanmar – Made Garments .

Myanmar Plastics ..
Myanmar plastics is expected to grow at a CAGR of over 6% globally . Durin g the forcas t period growing demand from the end-user industries such as . Packaging. Electtrical & Electronics , as well as Construction & Automotive industry are driving the market growth.
Key Market Trends
Polyethylene to Dominate the Market
• Presently, polyethylene has become one of the essential products used in our daily lives. It is primarily used in the packaging sector, which comprises of containers and bottles, plastic bags, plastic films, as well as geomembranes. It has various types, including HDPE and LDPE.
• The packaging industry has been experiencing drastic growth over the past few years. The increased demand for packaged goods has accelerated the demand for high-density polyethylene (HDPE).
• Owing to the increased disposable income, rising consumption of products, including packaged foods, personal care products, pharmaceuticals, etc., the HDPE market is growing drastically.
• The use of HDPE for plastic pipes in buildings is leading to the growth of the product’s market, owing to the new opportunities that in favor of Myanmar’s infrastructure sector.
• Myanmar’s construction industry growth may remain robust in the coming years owing to the favorable government regulations and foreign investment flows into the transport and real estate sectors.
• Recently, the Myanmar Central Bank opened lending opportunities for foreign banks operating in the country. This move has allowed the banks to offer loans to foreign companies and joint venture operations, which presents the possibility to avail loans for construction projects in the country.
• Owing to the above-mentioned factors, growth of traditional plastics, including polyethylene, in Myanmar is expected to rise over the forecast period.

Myanmar Packaging .
Myanmar Growing Demand from Packaging Industry
• Packaging accounts for the largest application segment in the Myanmar plastics market. The prime reasons for the growing application of engineering plastics, in the packaging segment, are better wear and chemical resistance, ease of molding, recyclability, puncture resistance, and high mechanical strength.
• Some of the major applications of engineering plastics, in the packaging segment, are as follows: packaging of bottled water, flexible packaging, such as sausage skin, flexible foils, such as shopping bag.
• Polyethylene terephthalate (PET) is one of the plastics majorly used for packaging purposes, mostly in the food and beverage industry. Portability, design flexibility, ease of cleaning, light weight, and protection against moisture, are a few properties of PET, which makes it suitable for packaging purposes. In addition, low handling hazards, low toxicity, and absence of bisphenol A (BPA) and heavy metals are some of the other factors that allow PET to be used for food packaging.
• PETs are used for making clamshells, bakery and take-out containers, microwaveable food trays, carbonated soft drink bottles, and other packages. Other applications include packaging materials for cooking oils, shampoo, hand wash, and more products.
• Polyamide is another major engineering plastic that finds major application in the packaging sector. Bi-axially oriented and non-oriented polyamide films are used in medical and food packaging, owing to the former’s high impact strength and good heat resistance.
• Increasing household and commercial applications for containers, plastic bags, canisters, and tableware, among others, are expected to drive the consumption demand for plastics in the packaging sector, during the forecast period.
• The usage of plastics for packaging products is expected to experience a fairly steady demand, during the forecast period. Requirements for rubber gloves in the healthcare sector, stretch films, garbage bags, and other medical devices, are anticipated to witness greater demand, in the coming years.