Transparent Plastics Market Growth Analysis | 2023-2028

Transparent Plastics Market Growth Analysis | 2023-2028

Transparent Plastics Market Growth Analysis | 2023-2028
Report code - SRAM709 Delivery - 2 Weeks
Transparent Plastics Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis See more...

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.

Transparent-Plastics-Market-Insights

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Market Dynamics

Introduction

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 Drivers

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

  • The increasing adoption of transparent plastics by end-use industries 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 market growth during the forecast period.

Transparent-Plastics-Market-Dynamics

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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.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Form Type Analysis

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.

Polymer Type Analysis

Polystyrene, Polypropylene, Polycarbonate, Polyethylene Terephthalate, Polyvinyl Chloride, Polymethyl Methacrylate, and Others [San & Abs, Thermoplastic Polyurethane, Polyamide, and Polyethylene

The PET segment dominates the market.

Application Type Analysis

Packaging, Building & Construction, Automotive, Consumer Goods, Healthcare, Electrical & Electronics, and Others [Aerospace and Agriculture

Packaging application is expected to remain the largest and the fastest-growing segment of the market.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific is estimated to be the largest transparent plastics market during the forecast period.

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.

Transparent-Plastics-Market-Regional-Insights

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Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects transparent plastics market realities and future market possibilities for the forecast period.
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

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)

Transparent-Plastics-Market-Segmentation

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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.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

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.

The transparent plastics market was estimated at USD 110.27 billion in 2022.

The transparent plastics market is likely to reach USD 158.65 billion in 2028.

The transparent plastics market is likely to grow at a CAGR of 6.2% during 2023-2028.

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, and Arkema are among the top players in the market.

Packaging is expected to be the fastest-growing application type in the market in the coming five years.

Asia-Pacific is expected to be the largest market during the forecast period.

Increasing adoption of transparent plastics by end-use industries which is creating high demand in emerging regions, improved shelf-life of packaged food products, and ease of customization are the factors driving the growth of the market.

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