The Transparent Plastics Market is expected to reach USD 176.29 billion by 2028, 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 F&B 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.
Reports and Data announced the addition of new informative data titled Transparent Plastics market to its extensive repository. The goal of this report is to help readers improve their industry’s performance by focusing on important aspects of their business, such as recent developments, technology platforms, and various standard operating procedures and tools. Primary and secondary research techniques were used to effectively examine the desired data. Analysts in this research report can quickly expand their business by focusing on various business and market strategies.
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Competitive Landscape:
The global Transparent Plastics market research report provides a competitive strategy analysis portfolio to provide a better understanding of the competitive landscape. The report further discusses in depth the business strategies undertaken by key manufacturers on mergers and acquisitions, joint ventures, and collaborations. It sheds light on the companies holding largest market share in terms of revenue in the global Transparent Plastics market.
Key Players:
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.
Further key findings from the report suggest:
- The Transparent Plastics Market is estimated to reach USD 170.48 billion by 2027, 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 2019.
- 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.
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Market Overview:
The packaging industry plays an important role, adding value to various manufacturing sectors including pharma, FMCG, agriculture, and retail industries. It is considered as one of the fastest growing industries due to growth in e-commerce industry, especially during Covid 19 pandemic. Containment, communication, protection, and utility are the four major functions of packaging that are intended to maximise sales and profits while reducing losses and wastage, and they are all critical for improving the consumer and overall brand experience. Packaging is today seen as a vital link between consumers and brands, allowing them to convey successfully that hygiene is upheld, safety is prioritized, and service or product quality is not compromised.
Market Segmentation:
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; 2018-2028)
- Rigid
- Flexible
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- 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; 2018-2028)
- Packaging
- Building & Construction
- Electrical & Electronics
- Automotive
- Others
Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
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