Transparent Plastics Market Growth Analysis | 2023-2028

Market Insights

The transparent plastics market was estimated at USD 110.27 billion in 2022 and is likely to grow at a CAGR of 6.2% during 2023-2028 to reach USD 158.65 billion in 2028.

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What are transparent plastics?

Transparent plastics are malleable above a specific temperature and return to their original, solid state on cooling. They possess properties such as recyclability, resistance to corrosion and chemicals, low electrical and thermal conductivity, shock resistance, water resistance, durability, lightweight, and others.

Market Dynamics

The prime factors contributing to the demand for transparent plastics are-

• The increasing adoption of transparent plastics by end-use industries which is creating high demand in emerging regions, improving the shelf-life of packaged food products, and ease of customization.
• The increasing demand for transparent plastics from the packaging industry can be attributed to their moisture barrier, microorganism repelling, and corrosion-resistant characteristics that result in increased shelf life of products.
• Increasing use of transparent plastics in pharmaceutical, FMCG packaging, and electric vehicles.

Fluctuating raw material prices and environmental concerns may challenge the market growth during the forecast period.

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Segment Analysis

By Form Type

Based on the form type, the transparent plastics market is segmented as rigid and flexible. The rigid plastics segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. Favorable properties such as the nature of the blend, physical properties, and ease of consumption make rigid transparent plastics suitable for use in various applications such as electrical & electronics, building & construction, automotive, appliances, packaging, and medical.

By Polymer Type

Based on the polymer type, the market is segmented as polystyrene, polypropylene, polycarbonate, polyethylene terephthalate, polyvinyl chloride, polymethyl methacrylate, and others. The PET segment dominates the market, as it is approved by the Food and Drug Administration and various other health-safety agencies throughout the world, as it is safe for contact with foods and beverages. Further, PET is the most widely recycled plastic in the world.

By Application Type

Based on the application type, the market is segmented as packaging, building & construction, automotive, consumer goods, healthcare, electrical & electronics, and others. Packaging application is expected to remain the largest and the fastest-growing segment of the market, owing to the wide use of transparent plastics in packaging applications such as food wrappings, PET bottles, shrink wraps, and others. Due to the increasing living standards and disposable income levels of customers across the globe, the application of transparent plastics in the packed water sector is growing globally.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest transparent plastics market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as packaging, construction, automobile, electronics, consumer goods, and other industries, which are generating huge demand for transparent plastics. Factors such as growing population, increasing per capita income, and changing lifestyles in the region are driving the market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period. Major manufacturers are increasingly expanding their transparent plastic capacities, owing to a hike in demand across the globe.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The transparent plastics market is segmented into the following categories.

By Form Type

• Rigid Plastics
• Flexible Plastics

By Polymer Type

• Polystyrene
• Polypropylene
• Polycarbonate
• Polyethylene Terephthalate
• Polyvinyl Chloride
• Polymethyl Methacrylate
• Others

By Application Type

• Packaging
• Building & Construction
• Automotive
• Consumer Goods
• Healthcare
• Electrical & Electronics
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major transparent plastic manufacturers are-

• DuPont
• Dow Chemical Company
• LyondellBasell
• SABIC
• Covestro
• BASF
• INEOS
• PPG Industries
• Evonik Industries
• LANXESS
• Teijin Limited
• LG Chem
• Denka
• Trinseo
• Asahi Kasei
• Eastman Chemical Company
• Chi Mei Corporation
• Arkema.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the form types and by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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