Overview and Scope
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.
Sizing and Forecast
The transparent plastics market size has grown strongly in recent years. It will grow from $133.79 billion in 2023 to $143.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to advancements in transparency, resilience to corrosion and chemicals, recycling and sustainability, globalization and market expansion, environmental impact..
The transparent plastics market size is expected to see strong growth in the next few years. It will grow to $189.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing demand for packaging, cost-efficiency and performance, versatility and customizability, healthcare industry demand, consumer preferences and aesthetic appeal.. Major trends in the forecast period include supply chain sustainability, r&d in biopolymers, shift in material substitution, customization and design flexibility..
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Segmentation & Regional Insights
The transparent plastics market covered in this report is segmented –
1) By Type: Rigid Transparent Plastics, Flexible Transparent Plastics
2) By Polymer Type: Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polypropylene (PP), Polystyrene (PS), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Other Polymers
3) By Application: Packaging, Building And Construction, Electrical And Electronics, Automotive, Consumer Goods, Healthcare, Other Applications
Top 5 Major Players:
- DuPont de Nemours Inc.
- Dow Chemical Company
- LyondellBasell Industries NV
- Saudi Basic Industries Corporation
- Covestro AG
Asia-Pacific was the largest region in the transparent plastics market in 2023. 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, Africa.
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Major Driver Impacting Market Growth
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, in April 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales accounted for 14% of all new cars sold globally in 2022, a considerable rise from 9% in 2021. This trend is expected to continue in 2023, with over 2.3 million electric cars sold in the first quarter alone, representing a 25% increase from the same period last year. Furthermore, it is projected that 14 million electric cars will be sold by the end of 2023, marking a 35% year-on-year increase, with new purchases accelerating in the second half of the year . As a result, the increase in demand for electric vehicles is driving the transparent plastics market.
Key Industry Players
Major companies operating in the transparent plastics market report are DuPont de Nemours Inc., Dow Chemical Company, LyondellBasell Industries NV, Saudi Basic Industries Corporation, Covestro AG, BASF SE, Ineos Group Limited, PPG Industries Inc., Evonik Industries AG, Lanxess AG, Teijin Limited, LG Chem, Denka Company Limited, Trinseo plc, Asahi Kasei Corporation, Eastman Chemical Company, Chi Mei Corporation, Arkema S.A., Braskem SA, Chevron Phillips Chemical Company, China National Chemical Corporation, Formosa Plastics Corporation, Huntsman Corporation, Idemitsu Kosan Co. Ltd., Ineos Chlorvinyls Ltd., Mitsubishi Chemical Corporation, Samyang Foods Co. Ltd., Shin-Etsu Chemical Co. Ltd., Solvay SA, Westlake Corporation
The transparent plastics market report table of contents includes:
1. Executive Summary
2. Transparent Plastics Market Characteristics
3. Transparent Plastics Market Trends And Strategies
4. Transparent Plastics Market – Macro Economic Scenario
5. Global Transparent Plastics Market Size and Growth
…
31. Global Transparent Plastics Market Competitive Benchmarking
32. Global Transparent Plastics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transparent Plastics Market
34. Transparent Plastics Market Future Outlook and Potential Analysis
35. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Transparent Plastics Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Transparent Plastics Market, Segmentation By Polymer Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Transparent Plastics Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: DuPont de Nemours Inc. Financial Performance
Table 75: Dow Chemical Company Financial Performance
Table 76: LyondellBasell Industries NV Financial Performance
Table 77: Saudi Basic Industries Corporation Financial Performance
Table 78: Covestro AG Financial Performance
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