The global transparent plastic market size is estimated to reach USD 177.43 billion by 2026 growing at a CAGR of 6.8% during the forecast period, according to a new study published by Polaris Market Research. The report ?Transparent Plastic Market Share, Size, Trends, & Industry Analysis Report, By Type (Rigid Transparent Plastic, Flexible Transparent Plastic), By Polymer Type (Polycarbonate, Polyvinyl Chloride, Polystyrene, Polypropylene, Polyethylene Terephthalate), By End-User, By Region]: Segment Forecast, 2019 - 2026' provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the packaging segment dominated the global transparent plastic industry, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
The diverse applications of transparent plastic in industries such as healthcare, construction, packaging, automotive, and consumer goods among others is expected to support the market growth. The demand for transparent plastic has improved significantly over the past few years owing to features such as improved shelf-life of packaged food products, and ease of customization. Other factors driving the transparent plastic industry include growing adoption of electric vehicles, development of bio-based transparent plastics, and rising demand from food & beverages industry for packaging solutions.
However, increasing concerns regarding environmental pollution, and increasing demand for eco-friendly packaging material are expected to restrict the market growth. Increasing demand from developing nations, recycling of PVC, and technological advancements are expected provide numerous growth opportunities to the market players operating in the transparent plastic industry.
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PVC is an amorphous thermoplastic with properties such as high transparency, excellent mechanical properties and impact strength, and great resistance to chemicals and fire. Optical characteristics of clear PVC products include high light transmission, high clarity, and anti-glare surface. It is used in the construction sector for day lighting, greenhouse, and safety glazing applications. The packaging industry uses PVC for blister packs, cling films, clear wraps, whereas the healthcare sector uses it for bags, tubing, drips, connectors, and valves among others.
Asia-Pacific generated the highest revenue in the transparent plastic industry in 2018, and is expected to lead the global market throughout the forecast period. The presence of emerging industries such as healthcare, construction, and packaging, substantial initiatives in research and development, and favorable government policies drive the market growth. Rapid industrialization, growing demand from packaged food and beverages and healthcare sectors, and growth of electronics industry in the region supports the market growth in the region.
The well-known companies profiled in the transparent plastic market report include BASF SE, PPG Industries, LG Chem, E. I. Du Pont De Nemours and Company, Asahi Kasei Corporation, Evonik Industries AG, The Dow Chemical Company, Teijin Limited, Eastman Chemical Company, Chevron Phillips Chemical Company, Exxon Mobil Corporation, and PolyOne Corporation. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach.
Polaris Market Research has segmented the global transparent plastic market on the basis of type, polymer type, end-user and region:
Transparent Plastic Type Outlook (Revenue, USD Billion, 2015 - 2026)
Rigid Transparent Plastic
Flexible Transparent Plastic
Transparent Plastic Polymer Type Outlook (Revenue, USD Billion, 2015 - 2026)
Acrylonitrile Butadiene Styrene
Styrene Block Copolymers
Transparent Plastic End-User Outlook (Revenue, USD Billion, 2015 - 2026)
Electrical and Electronics
Healthcare and Pharmaceutical
Transparent Plastic Regional Outlook (Revenue, USD Billion, 2015 - 2026)
Rest of Europe
Rest of Asia-Pacific
Rest of LATAM
Middle East & Africa
Rest of MEA