Transparent Plastics Market by Type (Rigid, Flexible), Polymer Type (PET, PVC, PP, PS, PC, PMMA), Application (Packaging, Building & Construction, Electrical & Electronics, Automotive, Consumer Goods), and Region - Global Forecast to 2022
“In terms of value, the transparent plastics market is projected to grow at a CAGR of 6.2% from 2017 to 2022.”
The transparent plastics market is projected to grow from USD 101.97 billion in 2017 to USD 137.75 billion by 2022, at a CAGR of 6.2% from 2017 to 2022. Increasing adoption of transparent plastics by end-use industries, improved shelf-life of packaged food products, high demand in emerging regions, and ease of customization are the key factors driving the growth of the transparent plastics market across the globe. However, environmental pollution due to low degradability of plastics and increasing demand for eco-friendly packaging materials in developed countries acts as a restraint to the growth of the transparent plastics market.
“Among types, the flexible transparent plastics segment of the transparent plastics market is projected to grow at a higher CAGR between 2017 and 2022.”
The flexible transparent plastics type segment of the transparent plastics market is projected to grow at a higher CAGR during the forecast period. Polytetrafluoroethylene (PTFE) is the most preferred material in the flexible transparent plastics segment. Flexible packaging is preferred for its low cost, sustainability, attractiveness, and convenience. Another advantage of this kind of packaging is that it allows written information such as product instructions to be placed on the label.
“Among polymer types, the Polyethylene Terephthalate (PET) segment of the transparent plastics market is projected to grow at the highest CAGR between 2017 and 2022.”
The PET polymer type segment of the transparent plastics market is projected to grow at the highest CAGR during the forecast period. Due to PET's unique properties such as good barrier properties, light weight, recyclability, safety, and ease of handling, it is rapidly becoming the preferred packaging material for foods and beverages globally.
“Among applications, the packaging segment of the transparent plastics market is projected to grow at the highest CAGR during the forecast period.”
The packaging application segment of the transparent plastics market is projected to grow at the highest CAGR from 2017 to 2022. The demand for transparent plastics in the packaging application is driven by their use in PET bottles, shrink wraps, food wrappings, and others. The application of transparent plastics in the packed water sector is growing globally. This is mainly due to the increasing living standards and disposable income levels of customers across the globe.
“The Asia Pacific transparent plastics market is projected to grow at the highest CAGR from 2017 to 2022.”
The Asia Pacific transparent plastics market is projected to grow at the highest CAGR during the forecast period. Due to the increased domestic demand, rising income levels, and easy access to resources, Asia Pacific has emerged to become the leading consumer of transparent plastics.
The break-up of profiles of primary participants for the report has been given below:
• By Company Type: Tier 1—25%, Tier 2—35%, and Tier 3—40%
• By Designation: C Level—25%, D Level—25%, and Others—50%
• By Region: Asia Pacific—40%, Europe—25%, North America—22%, the Middle East & Africa—8%, and South America—5%
As a part of the qualitative analysis, this research study provides a comprehensive overview of the drivers, restraints, opportunities, and challenges in the transparent plastics market. It also discusses competitive strategies adopted by leading market players, such as DuPont (US), Dow Chemical Company (US), LyondellBasell (Netherlands), SABIC (Saudi Arabia), Covestro (Germany), BASF (Germany), INEOS (UK), PPG Industries (US), Evonik Industries (Germany), LANXESS (Germany), Teijin Limited (Japan), LG Chem (South Korea), Denka (Japan), Trinseo (US), Asahi Kasei (Japan), Eastman Chemical Company (US), Chi Mei Corporation (Taiwan), and Arkema (France), among others, to strengthen their position in the transparent plastics market.
This report defines, segments, and projects the transparent plastics market based on type, polymer type, application, and region. It strategically profiles key players and comprehensively analyzes the ranking of the leading market players. It also tracks and analyzes competitive developments such as agreements, expansions, acquisitions, contracts, joint ventures, and new product launches in the transparent plastics market.
Reasons to Buy the Report
This report is expected to help market leaders/new entrants in this market by providing them the closest approximations of revenues of the transparent plastics market and its subsegments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape, gain insights to enhance the position of their businesses, and enable them to make suitable go-to-market strategies. The report is expected to help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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