The growth of the transparent plastics market is governed by various factors such as growing demand from the packaging industry and government investmentThe transparent plastics market size in the North America region accounts for the second largest share of 27.3% of the market in 2019. The presence of large organized players in this region contributes to the large share. These organizations are stimulating their attempts to be in line with market trends.
The Transparent Plastics Market is expected to reach USD 170.48 billion by 2027, according to a new report by Reports and Data. Transparent plastics are used for the manufacture of shatter-resistant, lightweight, and long-lasting products. They are used for designing unique shapes and complex geometries.
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Global Transparent Plastics Market: Key Players
- Dow Chemical Company
- Chi Mei Corporation
- PPG Industries
- Evonik Industries
- Teijin Limited
- LG Chem
- Asahi Kasei
- Eastman Chemical Company
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Further key findings from the report suggest:
- The Transparent Plastics Market is estimated to reach USD 170.48 billion by 2027, at a CAGR of 5.9% during the forecast period.
- The rigid form segment accounts for the largest share of 63.1% of the market in 2019.
- Rigid transparent plastics segment holds the largest share of the market as the rigid transparent plastics are utilized in several applications such as building & construction, appliances, electrical & electronics, packaging, automotive, medical and others.
- The PET type is anticipated to grow at the highest rate of 6.6% during the forecast period.
- The packaging end user segment is anticipated to grow at the highest rate of 6.2% during the forecast period.
- The Packaging end user segment growing at the highest CAGR due to the huge demand for transparent plastics in the packaging application such as food wrappings, bottles, shrink wraps, and others.
- Asia Pacific is expected to be the fastest growing region and is forecasted to witness the highest CAGR of 6.6% during the forecast period.
- The Transparent Plastics Market is anticipated to witness increasing demand from India, China, and other countries of the Asia Pacific region. This is due to the growing application in construction, electronics, automobile, consumer goods, packaging, and other industries.
- The market in this region is forecast to witness escalating demand for polymers due to the rising demand for desktop printers.
- Various players are developing strategies to mark their presence in the industry.
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Conclusively, all aspects of the Transparent Plastics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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