WASHINGTON, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The Global Transparent Plastics Market is valued at USD 131.5 Billion in 2021 and is projected to reach a value of USD 179.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.3% over the forecast period 2022-2028.
One of the most significant economic areas is the Transparent Plastics business, and consistent expansion is projected. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses current trends and anticipated changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for Transparent Plastics, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, key factors are anticipated to accelerate the Transparent Plastics Market growth over the forecast period. Increased acceptance of Transparent Plastics by end-use industries, the extended shelf life of packaged food goods, increased demand in developing countries, and simplicity of customization are the main factors anticipated to propel the transparent plastic market.
We forecast that sales of the flexible Transparent Plastics category in the Transparent Plastics Market will account for more than 30% of total sales by 2028. The most popular material in the flexible Transparent Plastics Market is polytetrafluoroethylene (PTFE). Flexible packaging is popular because of its affordability, sustainability, appeal, and practicality.
Asia Pacific dominates the market, and this trend of dominance will continue throughout the projection period. Asia Pacific has risen to become the region with the highest consumption of Transparent Plastics due to growing domestic demand, rising income levels, and simple access to resources.
Top Players in the Global Transparent Plastics Market
- EI. DuPont de Nemours Inc. (US)
- The Dow Chemical Company (US)
- LyondellBasell Industries Holdings BV (Netherlands)
- Saudi Basic Industries Corporation (Saudi Arabia)
- Covestro
- BASF SE (Germany)
- INEOS Group Ltd. (UK)
- PPG Industries Inc. (US)
- Evonik Industries AG (Germany)
- LANXESS Chemicals Company (Germany)
For Additional Information on Transparent Plastics Market Players and Detail List, Download a Report PDF Brochure
Market Dynamics
End-Use Sectors will Increasingly Use Transparent Plastics, which will Fuel Market Expansion
The lightweight nature of plastics gives them an advantage over other materials like glass and metal. Plastics are becoming increasingly popular across various end-use sectors thanks to their strength, beauty, performance, and ease of handling. In building and construction, plastics are displacing conventional materials like glass. In manufacturing windows and frames, plastics replace glass because they offer superior energy efficiency, aesthetics, design flexibility, and cost-effectiveness. Transparent Plastics' low weight has further advantages when transported because they reduce the risk of breaking and use less fuel.
Increased Demand for Transparent Plastics in Healthcare and Pharmaceutical Industries to Drive Market
Demand for Transparent Plastics from the pharmaceutical industry and healthcare facilities is constantly growing because they manufacture various useful items like medical equipment, implants, pharmaceutical consumables, and packaging materials like medication bottles, syringes, and others. Transparent polymers like polyethylene terephthalate are used in many applications due to their outstanding performance, low density, easy recycling, various processability, and, most importantly, cost-effectiveness. Because of increased funding for pharmaceuticals and healthcare, the Transparent Plastics industry is expanding.
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Recent Developments
- March 2022, A maker of bespoke plastic boxes, Printex Transparent Packaging (PTP), has introduced transparent folding boxes made of sustainably improved recycled PET (rPET) plastic.
- The Reborn group stated that it is prepared to introduce the first film de-inking line for polyethylene (PE) films in France in November 2021, at its site in Ogeu-Les-Bains.
Top Trends in Global Transparent Plastics Market
- One trend that Vantage Market Research (VMR) expects to see in the Transparent Plastics industry is the creation of transparent polymers made from biomaterials. Biodegradable polymers are increasingly in demand. Future market growth is anticipated to be driven by transparent biodegradable polymers that can be disposed of in landfills. One of the primary areas that are anticipated to provide enormous prospects for bio-based plastics is food and beverage packaging.
- Another trend that VMR predicts will continue in the Transparent Plastics industry is increasing the production of electric vehicles. Transparent plastic is extensively used in packaging and car parts in the automobile industry. When compared to other materials used in autos, these applications have grown in recent years and are likely to continue doing so.
Top Report Findings
- Based on Types, most of the Transparent Plastics Market's revenue is controlled by the flexible Transparent Plastics category. The ability to print textual information, like product instructions, on the label is another benefit of this kind of packaging.
- Based on Polymer Types, most of the Transparent Plastics Market's revenue is controlled by the polyethylene terephthalate (PET) category. Due to its unique properties, which include clarity, good barrier characteristics, ease of handling, low weight, safety, and recycling, PET, also known as polyethylene terephthalate, is increasingly being used for packaging foods and beverages around the world.
- Based on Applications, most of the Transparent Plastics Market's revenue is controlled by the packaging category. The packaging and film industries are rapidly moving toward lightweight, transparent, and long-lasting materials due to the majority of customer demands.
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on Transparent Plastics Market Forecast Report (2022-2028).
Top 10 Players Generate More Than 45% of the Global Transparent Plastics Market Revenue
The report also found that the largest players in the Transparent Plastics Market are technology providers such as Alcoa Corporation (U.S.), Aleris Corporation, Allegheny Technologies Incorporated (U.S.), AMETEK Inc, AMG Advanced Metallurgical Group and ArcelorMittal. These companies are expected to benefit from increased demand for their products and services and investments in new products. Other major players include E.I. Du Pont De Nemours and Company, Dow Chemical Company, LyondellBasell Industries, Holdings B.V., SABIC, Covestro, BASF SE, INEOS, PPG Industries, Evonik Industries AG, and LANXESS AG. The latest report published by Vantage Market Research shows that the top 10 companies generate more than 45% of market revenue.
Commercial Aircraft Category in Transparent Plastics Market to Generate Over 30% Revenue
Transparent Plastics is an expensive investment. Vantage Market Research has analyzed the market for Transparent Plastics to understand its current state and potential future growth factors. For better understanding, based on the polymer type, the Transparent Plastics Market is divided into polyethylene terephthalate (PET), polyvinyl chloride (PVC), polypropylene (P.P.), polystyrene (P.S.), polycarbonate (P.C.), polymethyl methacrylate (PMMA) and others (polyamide, ABS & SAN, polyethylene, TPU).
During the forecast period, the market for Transparent Plastics is anticipated to experience the highest CAGR for the polyethylene terephthalate (PET) category. PET is clear, affordable, and lightweight. It has tremendous strength and excellent chemical resistance. Using fibers, films, water bottles, and soft drink containers is popular.
On the other hand, the polycarbonate (P.C.) category is anticipated to grow significantly over the forecast period. 90% of light may be transmitted via polycarbonate materials while they also block U.V. rays. They work in various industries, including electrical & electronics (E&E), consumer products, automotive, medical, and agriculture.
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Global Transparent Plastics Market Segmentation
By Type
- Rigid Transparnent Plastics
- Flexible Transparent Plastics
By Polymer Type
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polypropylene (P.P.)
- Polystyrene (P.S.)
- Polycarbonate (P.C.)
- Polymethyl Methacrylate (PMMA)
- Others (Polyamide, ABS & SAN, Polyethylene, TPU)
By Application
- Packaging
- Building & Construction
- Electrical & Electronics
- Automotive
- Consumer Goods
- Healthcare
- Others (Aerospace, Agriculture)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Regional Analysis
- The Asia-Pacific region held the largest share in the transparent plastics market in 2021 up to 41%, as it is one of the fastest-growing economies, and has become one of the biggest production houses in the world.
- China being one of the major manufacturing sectors, alone contributes to the transparent plastics market of this region. Due to an increase in demand for transparent plastics for packaging from various industries, the region has expanded its production capacity, in order to meet the domestic and export demand, due to the presence of cheap laboring countries. According to Plastics Europe Organisation, China alone contributes to 32% of global plastics production. The main reason behind the sturdy transparent plastics’ growth in the Asia-Pacific region is mainly due to its increasing consumption of plastics in countries, like China and India.
- According, to the International Genetically Engineered Machine (iGEM) organization, in 2019, the total plastic products enterprises’ output was 79.915 million tons, which is up by 32.26% year on year. Moreover, as per the Plastics Export Promotion Council (PLEXCONCIL), India is planning to have 18 plastic parks with an investment of around US$6.2 million by the government, and to reach a target of US$25 billion of plastic exports by 2025, mainly to increase both the domestic production and foreign exports of plastics, showing more transparent plastics market opportunities to Asia-Pacific region.
- Hence, all the stated developing factors are expected to bring in a significant impact on the demand and production of transparent plastics within the Asia-pacific region over the forecast period.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 131.5 Billion |
| Revenue Forecast by 2028 | USD 179.2 Billion |
| CAGR | 5.3% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | EI. DuPont de Nemours Inc., The Dow Chemical Company, LyondellBasell Industries Holdings BV, Saudi Basic Industries Corporation, Covestro, BASF SE, INEOS Group Ltd., PPG Industries Inc., Evonik Industries AG, LANXESS Chemicals Company |
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