The Global Transparent Plastics Market is segmented by Type, Polymer Type, End-Use Industry and Region.
Transparent Plastics are available in two types namely rigid and flexible. The flexible type is leading the market due to its low cost, sustainability, and customizable nature. Flexible packaging is reusable, with features such as zip locks and spouts make them more convenient.
The Global Transparent Plastics Market is segmented on the basis of the polymer type into PET, PVC, PP, PS, PC, PMMA, ABS, and others. However, the PET segment is expected to dominate the Global Transparent Plastics Market. A majority of PET is used in bottling and packaging due to its excellent recyclable, water & moisture resistant, and shatterproof nature.
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The end-user industry segment includes packaging, building & construction, electrical & electronics, automotive, consumer goods, and others. The packaging segment is dominating the market owing to increased demand for plastics in the food & beverage packaging. These plastics are widely used in food wrappings, beverage bottling, and shrink wraps due to their moisture resistant and anti-bacterial properties. Transparent Thermoplastics are extensively consumed in construction for flooring, roofing, pipes, insulations, and others on account of their durability, cost-effectiveness, recyclability, energy saving, and easy installation.
Some of the manufacturers operating in the Global Transparent Plastics Market are DowDuPont (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), Covestro AG (Germany), BASF SE (Germany), INEOS (U.K), PPG Industries, Inc. (U.S.), Evonik Industries (Germany), LANXESS (Germany), TEIJIN LIMITED (Japan), LG Chem (South Korea), Denka Company Limited (Japan), Trinseo (U.S.), Asahi Kasei Corporation (Japan), and Eastman Chemical Company (U.S).
The Global Transparent Plastics Market is spanned across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific accounted for the largest market share in 2016 on account of the high demand for Transparent Plastics from major end-use industries such as automotive, construction, and electronics. The high production and sales of automotive and consumer electronics coupled with the high infrastructural development in the region are expected to drive the market growth during the forecast period 2018-2023.
The high demand from the automotive and packaging industries is expected to drive the Transparent Plastics Market in the North American region. Furthermore, the rebound in construction activities in the region is likely to fuel the market growth during the forecast period 2018-2023.
Europe is projected to witness a significant growth due to the high production and sales of the automotive parts in countries such as Germany, Italy, the U.K, France, and others.
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