Global Rigid Transparent Plastics Market 2017-2021
About Rigid Transparent Plastics
Rigid transparent plastics are available in various forms including blow-molded, injection-molded, extruded, and thermoformed. Rigid transparent plastics are commonly used in building and construction, electrical and electronics, automotive, medical and other applications including optical lenses, aircraft transparencies, and solar applications. Rigid transparent plastics have superior quality and features compared to ordinary plastics. They are more resistant to heat, abrasion, and chemicals and tougher.
Technavio’s analysts forecast the global rigid transparent plastics market to grow at a CAGR of 5.96% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global rigid transparent plastics market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of new installations, shipments, sales, volume, value and retrofit, replacement, spares, aftermarket, services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rigid Transparent Plastics Market 2017-2021
Technavio recognizes the following companies as the key players in the global rigid transparent plastics market: BASF, The Dow Chemical Company, Eastman Chemical Company, Evonik Industries, and ExxonMobil.
Other Prominent Vendors in the market are: DuPont, Formosa Plastics, Plaskolite, and PPG Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing popularity of sustainable production methods. There is growing pressure on manufacturers to use sustainable production methods. Although most manufacturers are welcoming this, smaller manufacturers are finding it hard to keep up with the growing competition. With an increase in the focus on sustainability and favorable government regulations for green procurement practices, rigid transparent plastic manufacturers across the globe will experience challenges in the consumer goods and packaging sectors.”
According to the report, one of the major drivers for this market is recyclability of plastics. The production of plastics has adverse effects on the environment. The waste generated in the form of discarded plastic products also has negative effects on the environment. Plastic waste management is a top priority as mass consumption of products with short lifespans is on the rise. In most of these products, plastics are used either for packaging or for other purposes.
Further, the report states that one of the major factors hindering the growth of this market is growing concerns regarding plastic disposal. Majority of the plastics are manufactured from oil and are non-biodegradable in nature. They do not decompose like organic waste and last for centuries in the soil. There is no natural process that can absorb non-biodegradable plastics back into the biological cycle.
BASF, The Dow Chemical Company, Eastman Chemical Company, Evonik Industries, ExxonMobil, DuPont, Formosa Plastics, Plaskolite, PPG Industries.