The Transparent Plastics Market is expected to reach USD 170.48 billion by 2020, according to a new report by Reports and Data. Transparent plastics are used for the manufacture of shatter-resistant, lightweight, and long-lasting products. They are used for designing unique shapes and complex geometries.
The market is principally driven by the rising demand for plastics from the packaging industry, especially from the FB packaging industry. This demand is due to the plastic’s corrosion-resistant nature, moisture barrier, and micro-organisms resisting characteristics, all these benefits to provide an increased shelf life of the food products. Transparent Plastics are even used widely in the pharmaceutical and FMCG packaging industry, which is most anticipated to drive the demand of the market in the forthcoming years. Moreover, the growing usage of these products in electric vehicles due to its safe operations, secured insulation properties, high mechanical properties, and others are also believed to have a significant positive impact on the market growth of Transparent Plastics. As from the environmental point of view, the burgeoning increase of electric vehicles globally is an essential factor that is expected to propel the market.
The market in the North America region accounts for the second largest share of 27.3% of the market in 2020. The presence of large organized players in this region contributes to the large share. These organizations are stimulating their attempts to be in line with market trends.
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Further key findings from the report suggest
- The Transparent Plastics Market is estimated to reach USD 176.29 billion by 2020, at a CAGR of 5.9% during the forecast period.
- The rigid form segment accounts for the largest share of 63.1% of the market in 2020.
- Rigid transparent plastics segment holds the largest share of the market as the rigid transparent plastics are utilized in several applications such as building construction, appliances, electrical electronics, packaging, automotive, medical and others.
- The PET type is anticipated to grow at the highest rate of 6.6% during the forecast period.
- The packaging end user segment is anticipated to grow at the highest rate of 6.2% during the forecast period.
- The Packaging end user segment growing at the highest CAGR due to the huge demand for transparent plastics in the packaging application such as food wrappings, bottles, shrink wraps, and others.
- Asia Pacific is expected to be the fastest growing region and is forecasted to witness the highest CAGR of 6.6% during the forecast period.
- The Transparent Plastics Market is anticipated to witness increasing demand from India, China, and other countries of the Asia Pacific region. This is due to the growing application in construction, electronics, automobile, consumer goods, packaging, and other industries.
- The market in this region is forecast to witness escalating demand for polymers due to the rising demand for desktop printers.
- Various players are developing strategies to mark their presence in the industry.
- The Key players in the Transparent Plastics Market include Dow Chemical Company, LyondellBasell, SABIC, Covestro, Chi Mei Corporation, INEOS, BASF, PPG Industries, LANXESS, Evonik Industries, Teijin Limited, Denka, LG Chem, Trinseo, Asahi Kasei, Eastman Chemical Company, Arkema.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Form, Type, End Users, and region:
Form Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2030)
- Rigid
- Flexible
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2030)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
- Polystyrene (PS)
- Polycarbonate (PC)
- Polymethyl Methacrylate (PMMA)
- Others
End Users Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2030)
- Packaging
- Building Construction
- Electrical Electronics
- Automotive
- Others
Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2020-2030)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East Africa
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