Market Synopsis:
The properties of Transparent Plastics Market Size that are expected to facilitate the generation of demand over the next few years are resistance to corrosion and chemicals, low thermal conductivity, durability, micro-organism repelling, etc. The global transparent plastics market has been studied in detail by Market Research Future in its latest report. It unveils that the market is projected to exhibit a healthy CAGR over the assessment period 2022 to 2030.
The growth of the market is expected to be driven primarily by the demand for packaging in the food industry. Also, the product has penetrated the booming industries such as pharmaceuticals, automotive, consumer goods, electrical & electronics, etc. This, in turn, is poised to catalyse expansion of the transparent plastics market in the years to come.
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Market Segmentation:
The segments of the global transparent plastics market, based on type, are rigid and flexible.
The different types of polymer identified in this MRFR report are polyethylene terephthalate (PET), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polycarbonate (PC), polymethyl methacrylate (PMMA), and others.
The important end-users assessed for a detailed segmental analysis of the global transparent plastics market are building & construction, packaging, electrical & electronics, consumer goods, automotive, and others.
Regional Analysis:
For an in-depth geographic assessment of the global transparent plastics market, it has been segmented into five regions namely Latin America, Asia Pacific, the Middle East & Africa (MEA), Europe, and North America. Asia Pacific is assessed to be dictating the growth of the global market in 2016. It has been projected that the regional segment is likely to retain its forefront position in the global marketplace over the next couple of years. Rapid industrialization being observed in the region has led to exponential developments in the end-user industries such as automotive, consumer goods, packaging, etc. This, in turn, is likely to fuel demand for transparent plastics, thus, expediting the expansion of the regional market. In addition, the rising standards of living, in conjunction with the increasing purchasing power of the population, is also poised to catapult the transparent plastics market in the region on an upward trajectory.
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North America, which was the second leading regional market in 2016, is prognosticated to expand at a substantial pace in the forthcoming years. The growth can be ascribed to rising demand from the food packaging industry. In addition, the investments injected for revamping the construction industry is further expected to accelerate revenue generation for the participants of the transparent plastics market in the upcoming years. Europe is forecasted to exhibit a similar growth trend in the nearby future. The key players in the transparent plastics market in the region are expected to capitalize on the increasing demand from the automotive industry.
Competitive Dashboard:
DowDuPont (U.S.), BASF SE (Germany), and Evonik Industries (Germany) are some of the noted participants of the global transparent plastics market expected to contribute substantially to its development in the upcoming years. Other key players profiled for the share analysis of the market are LyondellBasell Industries Holdings B.V. (Netherlands), Covestro AG (Germany), INEOS (U.K), LANXESS (Germany), PPG Industries, Inc. (U.S.), TEIJIN LIMITED (Japan), Asahi Kasei Corporation (Japan), Denka Company Limited (Japan), LG Chem (South Korea), Trinseo (U.S.), SABIC (Saudi Arabia), and Eastman Chemical Company (U.S).
The market is anticipated to remain highly lucrative in the years to come. Some of the key trends supporting the growth of the market participants are mergers & acquisitions, facility expansion, research & development, partnerships, etc. Case to the point is, in February 2019, the U.S. based Aurora Plastics has completed the upgradation and expansion of its Texas compounding facility.
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In March 2019, Mitsubishi Chemical Corporation (MCC), a subsidiary of Mitsubishi Chemical Holdings Corporation based out of Japan, has announced the acquisition of Welset Plast Extrusions Private Limited’s PVC compound business in India.
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