The market for transparent plastics has grown significantly during the last few years and is projected to grow at a rapid pace in the next five years. This market is mainly driven by the growing consumption in Asia-Pacific, RoW, and North America. Currently, North America is the largest market for transparent plastics,
• Asia-Pacific and the Middle East & Africa are expected to grow at significant growth rates in the next five years. The growing population trend in Asia-Pacific and the increasing need for urbanization is anticipated to increase the global consumption of transparent plastics. Rapidly growing end-use industries, such as transportation, automotive, healthcare, and packaging, is driving the demand for transparent plastics in developing nations. For instance, the increasing demand for lighter automobiles and rapidly growing automotive industry in developing countries are the two factors driving the market for transparent plastics in the automotive industry. Transparent plastics are finding increasing acceptance in the building & construction industry as these are more sustainable and cost-effective solution compared to other materials. Thus, the increasing use of transparent plastics in building & construction industry, along with high growth of this sector in the developing nations, is driving the demand for transparent plastics.
• Plastic materials are comparatively lighter than other alternative materials. These materials are easy to handle, customize, and mold and also have higher scratch resistance, thermal stability, impact strength, and resistance to abrasions. Various end-use industries are witnessing an increase in the consumption of transparent plastics due to the versatility of customization. A transparent resin can easily be customized by the use of colorants to create a translucent, transparent, or opaque package. It also allows end-users to utilize unique labeling that would not be effective with non-transparent resins. The flexible transparent plastics allow the end-users to customize the plastics according to their application requirements. In the current competitive environment, manufacturers aim at achieving competitive advantage over their rivals, which can be achieved through various properties of transparent packaging such as customization and unique packaging among others.
The market for transparent plastics has grown significantly during the last few years and is projected to grow at a rapid pace in the next five years. This market is mainly driven by the growing consumption in Asia-Pacific, RoW, and North America. Currently, North America is the largest market for transparent plastics, followed by Europe, Asia-Pacific, and RoW. Asia-Pacific is the fastest-growing transparent plastics market across the world. The market in Asia-Pacific is projected to witness a CAGR of around 7.5%, in terms of value, between 2015 and 2020.
Key manufacturers, such as SABIC Innovative Plastics (U.S.), LyondellBasell Industries N.V. (U.K.), BASF SE (Germany), The Dow Chemical Company (U.S.), Lanxess A.G. (Germany), E.I. du Pont de Nemours & Co (U.S.), Evonik Industries (Germany), Bayer A.G. (Germany), PPG Industries (U.S.), and Teijin Ltd (Japan), have been profiled in detail.
“
