Crude oil has risen in price, due to the increasing demand. In view of this study, we introduced the business environment of the plastic industry in Taiwan. and used the three factors of VRIO framework (J. Barney & W. Hesterly, 2006) to construct a three dimensional valuation model so to provide an evaluation approach in terms of value, rareness and imitablity of the industry respectively. In final we concluded some suggestions for optimizing plastic industry in Taiwan.