Major players in the transparent plastics market are DuPont, The Dow Chemical Company, LyondellBasell, SABIC, Covestro AG, BASF SE, INEOS Group, PPG Industries, Evonik Industries, Lanxess AG, Teijin Limited, LG Chem, Denka Company Limited, Trinseo PLC.
New York, April 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transparent Plastics Global Market Report 2023" - https://www.reportlinker.com/p06451243/?utm_source=GNW
, Asahi Kasei, Eastman Chemical Company, Chi Mei Corporation, Arkema S.A.
The global transparent plastics market is expected to grow from $125.33 billion in 2022 to $136.57 billion in 2023 at a compound annual growth rate (CAGR) of 8.97%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transparent plastics market is expected to grow to $172.67 billion in 2027 at a CAGR of 6.04%.
The transparent plastic market consists of sales of acrylic and PETG.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Transparent plastic is a non-crystalline (amorphous) material such as acrylic or polymethyl methacrylate (PMMA) in which light can pass through without being diffracted by crystals. Transparent plastics are used in optical products as a lightweight, shatter-resistant alternative.
Asia-Pacific was the largest region in the transparent plastics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the transparent plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of transparent plastics are rigid transparent plastics and flexible transparent plastics.The rigid transparent plastics are used to manufacture aquariums, lighting fittings, and other consumer goods.
Rigid transparent plastics are mechanically tough amorphous and transparent thermoplastics through which light can pass without being diffracted by crystals.These plastics are lightweight and shatter-resistant.
The transparent plastics are made of different polymers such as polyethylene terephthalate (PET), polyvinyl chloride (PVC), polypropylene (PP), polystyrene (PS), polycarbonate (PC), polymethyl methacrylate (PMMA), and other polymers. The transparent plastics are used in packaging, building and construction, electrical and electronics, automotive, consumer goods, healthcare, and other applications.
An increase in demand for electric vehicles is expected to propel the transparent plastics market.Electric vehicles (EVs) are either entirely or partially powered by electricity.
Transparent plastics are used in electric vehicles for packaging and vehicle parts such as interior and exterior panels, windshields, car indicator covers, windows, and other parts as they are lightweight, less fuel-hungry, and affordable.For instance, the International Energy Agency, an independent intergovernmental agency with headquarters in France, reports that global sales of electric vehicles climbed by 43% in 2020.
As a result, the increase in demand for electric vehicles is driving the transparent plastics market.
Bio-based transparent plastics are a key trend gaining popularity in the transparent plastics market.Bio-based plastics, as opposed to conventional plastics, are manufactured entirely or partly from biological sources.
Bio-based transparent plastics are made from renewable biomass sources, such as plant fats and oils, woodchips, sawdust, and recovered food waste.They are not always biodegradable or compostable.
Major players in the market are focusing on launching bio-based polymers and plastics for market growth. For instance, in October 2021, Lanxess, a Germany-based chemical company, launched Durethan BLUEBKV60H2.0EF. It is a sustainable high-performance plastic which either have a carbon footprint that is at least 50% lower than that of conventional products, or at least 50% made from circular (recycled or biobased) raw materials.
In December 2021, Sonco, a US-based packaging company, acquired Clear Pack Company for an undisclosed amount.Through this partnership, Sonoco will expand its rigid plastic operations.
Clear Pack Company is a US-based manufacturer of thermoformed and extruded plastic materials.
The countries covered in the transparent plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The transparent plastics market research report is one of a series of new reports that provides transparent plastics market statistics, including transparent plastics industry global market size, regional shares, competitors with a transparent plastics market share, detailed transparent plastics market segments, market trends and opportunities, and any further data you may need to thrive in the transparent plastics industry. This transparent plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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