Transparent Plastics Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM1865 | Last Updated On: Jun 15 2022 | Available Formats

> Global Transparent Plastics Market Expected to reach a high CAGR of 6.13% By 2029: DataM Intelligence

Global Transparent Plastics Market is segmented By Polymer Type (Polycarbonate, Acrylonitrile Butadiene Styrene, Polyethylene Terephthalate, Polyvinyl Chloride, Polypropylene, Poly Methyl Methacrylate, Others (Polystyrene)), By Type (Flexible, Rigid), By End User (Automotive, Electrical & Electronics, Building & Construction, Consumer Goods, Packaging, Healthcare and Pharmaceutical, Others (Agriculture and Aerospace)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Transparent Plastics Market is expected to grow at a CAGR of 6.13% during the forecasting period (2022-2029).

Transparent plastics are moldable above a specific temperature and return to a solid-state upon cooling. These plastics exhibit properties such as recyclability, resistance to corrosion and chemicals, lightweight, low electrical and thermal conductivity, shock resistance, durability, water resistance, and others. The, transparent plastics market is primarily driven by the rising interest for plastics from packaging industry, particularly from food & beverage packaging.

Market Dynamics

Improved shelf-life of packaged food products and rising adoption of transparent plastics worldwide are the crucial drivers for the growth of the market. Rising demand for packed foods from the food and beverage industry and increasing replacement of conventional materials by rigid transparent plastics are expanding the market growth. Adding to this, growing incomes and changing lifestyles that promotes the plastic material for packaging purposes are the key factors for the market growth. Governments are focusing to invest in plastic industry. For instance, In July 2019, The UK government has announced plans to invest USD 72.5 million to help fight the battle against single-use plastics and develop new forms of packaging.

Increasing demand for eco-friendly packaging materials in developed regions and environmental pollution due to the low biodegradability of plastics are the major restraints hampering the market growth.

Segment Analysis

By polymer type, the transparent plastics market is segmented into polycarbonate, acrylonitrile butadiene styrene, polyethylene terephthalate, polyvinyl chloride, polypropylene, and, others. Others include poly methyl methacrylate and polystyrene. The global transparent plastics market size by application segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Polycarbonate is a high-performance tough, amorphous and transparent thermoplastic polymer offering unique combination of properties such as high impact strength, dimensional stability, good mechanical properties, etc. It can transmit over 90% light and block ultraviolet radiation and provide 100% protection from the sun's harmful UV rays.

Polycarbonate is used in a large variety of everyday applications like construction materials, electronic components, data storage, automotive, aircraft, railway, and security components. Some major smartphone manufacturers use polycarbonate. Nokia Lumia series, Samsung Galaxy series and iPhone 5Cs are the few models using polycarbonate. Adding to this, Kereta Api Indonesia, the major railway operator in Indonesia, uses polycarbonate solid sheet for their engine and passenger cars fleet since 2016 due to high train stone throwing frequency.

By type, the transparent plastics market is classified into flexible and rigid. The global transparent plastics market size by type segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Rigid Transparent Plastic Market size is likely to hold a major share during the forecasted period due to continuous growth in disposable revenue and frequently changing lifestyle promotes the product market for packaging purposes. Increasing demand for automotive industry is the major reason for the market growth. Rigid-transparent polycarbonate has been widely used in several automotive and transportation applications. Clear rigid plastics are commercially available in many forms including injection-molded, extruded, blow-molded and thermoformed.

Geographical Analysis

The North America global transparent plastics market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. North America is dominating the global Transparent Plastics market in 2018 and estimated to hold largest market size over the forecast period (2020-2027). Huge demand for transparent plastics from the food packaging, reviving construction, and automotive industries are the major factors for the market growth in this region. The rising interest for lightweight automotive parts due to environmental concerns and stringent regulations is expected to drive the market growth in this region. Companies in North America are having big distribution network in Plastic industry. For instance, The North American Plastics group, a collection of the industry’s top leading brands in plastics distribution, is comprised of (88) locations across North America and offers the largest geographic footprint in the plastics industry.

The Asia Pacific transparent plastics market size by type segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The market in Asia Pacific is expected to grow with a high CAGR in the forecast period. The trend seems to continue in the forecast period owing to continuously growing demand for transparent plastics market. Countries like China, India, Sri Lanka, Indonesia, and Vietnam are the major countries to play a crucial role for the growth of the market in this region. Companies are introducing products to the market with different solutions. For instance, Palram Industries Ltd introduced PALCLEAR transparent sheets provide solutions to various applications in populated indoor areas in India.

Competitive Landscape:

The Transparent Plastics market is a partially competitive having significant share of top companies. Some of the major players include Asahi Kasei Corporation, Eastman Chemical Company, LG Chem, Denka Company Limited, SABIC, Evonik Industries AG, Teijin Limited, Eastman Chemical Company, INEOS and PPG Industries.

The key players are adopting various key strategies such as product launches, which are contributing to the growth of the Transparent Plastics Market

In March 2018, Trinseo, has launched its new portfolio of soft-touch plastics for automotive applications at the international VDI Plastics in Automotive Engineering (PIAE) conference in Mannheim, Germany.

In July 2019, The UK government has announced plans to invest USD 72.5 million to help fight the battle against single-use plastics and develop new forms of packaging.

Why Purchase the Report?

  • Visualize the composition of the transparent plastics in terms of various types of polymer type, type and their end user highlighting the key commercial assets and players.

  • Identify commercial opportunities in transparent plastics market by analyzing trends and co-development deals.

  • Excel data sheet with thousands of data points of transparent plastics market - level 4/5 segmentation.

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

  • Product mapping in excel for the key product of all major market players

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