The global demand for plastic resins is expected to increase in the 2023-2025 period, opening up opportunities for businesses producing and exporting Vietnamese plastic resins. As one of the leading suppliers of plastic resins, An Thanh Bicsol has grasped such opportunities to promote growth.
Higher demand for plastic resins
ICIS forecasts show that the global plastic resin demand is expected to increase by about 4.4% per year in the 2023-2025 period. The rising global demand for plastic resins is largely driven by the Chinese market, the Asia-Pacific region and Europe. In the coming period, the rise in demand for plastic resins will depend largely on growth in the Chinese market alongside other developing Asian countries. China is the world’s largest plastic resin consumption market and the main driving force of the global plastic resin market. In developing countries in the Asia-Pacific region, including Vietnam, the demand for plastic resins will likely continue to increase.
In Vietnam, An Thanh Bicsol is one of the leading plastic resin suppliers with products exported to 70 countries and territories. The company, headquartered in An Phat Complex Industrial Park (Hai Duong), has representative offices in many countries including the U.S., China and Singapore. Established in 2017, An Thanh Bicsol is a subsidiary and a core member of An Phat Holdings with a business network spanning across the country with more than 2,500 domestic and foreign customers and partners and average output of 35,000 tons per month.
Faced with the increasing demand for plastic resins from countries around the globe, An Thanh Bicsol has the advantage to expand its growth. The company supplies plastic beads, additives, chemicals, and raw materials for the plastic industry, providing customers who are plastic product manufacturers in the world with the most suitable raw materials with high quality.
In An Thanh Bicsol’s revenue structure, PE plastic pellets contribute 47%, PP plastic pellets 33%, PVC 13%, PET 6%, and PS and ABS contribute the remaining 3%.
An Thanh Bicsol currently exports materials mainly to the Southeast Asian market (37%), followed by South Asia and the Middle East, accounting for 32% of its total output, the EU market (12%), Northern South America (10%), Africa (5%) and China (3%).
Extending growth momentum
The company recorded strong growth, with plastic resin sales increasing from 2,000 tons per month in 2017 to 13,000 tons per month in 2020.
The momentum continues in the subsequent years, with growth of more than 46% reported in 2021, and a staggering 84.2% in 2023. An Thanh Bicsol aims for 100,000 tons per month by 2030, corresponding to a 50-fold increase compared to the company’s initial sales upon its founding.
With nearly 200 experienced employees, An Thanh Bicsol is striving to gradually become one of the leading distribution companies of virgin plastic resins and raw materials in Vietnam and the world.
The company experienced both success and challenges in 2023, with many new obstacles to overcome, but important milestones were achieved. The company continues to be a reputable supplier of plastic resins, conquering customers in demanding markets. This is because An Thanh Bicsol makes use of the closed supply chain from An Phat Holdings Group with logistics systems, warehouses, and representative offices globally. Currently, the company is expanding its customer base and markets, and diversifying its products.
An Thanh Bicsol is part of the plastic industry ecosystem of An Phat Holdings, a group with 20 years of experience in the field of manufacturing high technology plastic and environmentally friendly products with a well-equipped factory system. This is a great advantage to help An Thanh Bicsol accelerate its development and reach further. The company clearly understands the needs of customers so that it can provide the most suitable products. Along with Bicsol’s own packaging brands and global offices and professional business system, An Thanh Bicsol’s growth momentum is expected to continue.
