The Plastic industry shows promise with a huge growth potential in the domestic market and opportunity to grab a share in the global market.
Plastic is one of the key industrial sectors in Bangladesh making significant contribution to the country’s economy. There are around 5,000 plastic enterprises in Bangladesh, employing about 1.2 million people and producing a variety of products for the domestic as well as the export market. Plastic is a key component of many products in other sectors of the economy like textile, healthcare, construction, electronics, energy generation, automotive etc. Bangladesh primarily produces household goods and packaging products for food processing, pharmaceutical & FMCG industry, garments bags & accessories, toys, sanitary items and construction products including PVC pipes. The domestic market size was over USD 2,500 million in 2017, while the direct export value of plastic goods was around USD 120 million in FY 2018-19. Besides, deemed export items comprising accessories and packaging materials for the ready-made garments sector contributed USD 900 million in 2018.
Low per capita consumption of Plastic indicative of huge growth potential in Domestic market.
Duty/ Quota free market access to key export destinations with growing export market with plastic products being exported to over 70 countries