The Transparent plastics market is predicted to rise from a value of USD 102.4 billion in 2022 to USD 137.1 billion by the end of the year 2028, at a compound annual expansion rate (CAGR) of 6.9% over the foreseen period.
Transparent plastics are employed when vision through the material is required. Transparent plastics are used in the manufacture of lightweight, unbreakable, and durable products. They can be employed to produce complex geometries and unique shapes. Growing consumer call for take-out and ready-to-use products, which require healthy operation and convenient packaging, is predicted to drive the transparent plastics market during the outlook period. Increased revenue and periodically changing lifestyles favor plastic for packaging. Growing demand for packaged food products and the popularity of online shopping is predicted to drive calls over the outlook period. A world without plastic seems incredible today. Plastics are becoming the most important invention of man and we are surrounded by all kinds of plastic products. In a world full of different types of plastic, perhaps the most important plastic product is clear plastic. Transparent plastics are widely employed in everyday life, including bottles, glasses, and glassware. With transparent plastics being commonly employed in food and consumer goods packaging, the worldwide market for transparent plastics is gaining importance due to its escalating adoption in packaging and consumer goods applications around the world.
Plastics have the advantage of being lightweight compared to other materials such as glass and metals. In various end-use industries, plastics are highly accepted due to their durability, aesthetics, high performance, and easy handling. Plastics are replacing traditional materials like glass in construction applications. Plastics replace glass in the construction of windows and frames as they offer high energy efficiency, aesthetics, design flexibility, and cost-effectiveness. For example, polycarbonate plastics are employed in windows. Polycarbonate is unbreakable, transparent, and lightweight. Plastics have low thermal conductivity, reducing heating and cooling costs while protecting against extreme weather conditions. The lightweight of transparent plastics provide additional benefits during transportation, as there is less risk of breakage and less fuel is required for transportation. In the packaging industry, transparent plastics are proving to be more profitable than other materials.
Plastics are durable and do not degrade easily. Improper disposal of plastics poses a threat to environmental pollution. For example, several sea turtles are injured by accidentally consuming clear plastic; because transparent plastics often look like jellyfish or the larval stage of a crab. Various issues related to plastic packaging materials, such as biodegradability and recyclability, have led to an increase in the number of environmental regulations against the use of plastic packaging materials. These strict regulations on inappropriate plastic disposal are limiting the expansion of the transparent plastics market.
The call for biodegradable plastics is growing exponentially. Clear biodegradable plastics that can be dumped directly into landfills are predicted to drive the market in the future. Food and beverage packaging is one of the main markets that is predicted to provide great opportunities for bio-based plastics. Important misinformation and fear tactics are employed to promote the anti-plastic agenda. It paralyzes the industry; however, it is believed that the development of new materials will reduce the impact of this misinformation and terrifying tactics in the long term.
The price and availability of raw materials are the main factors that affect the price of finished products. Crude oil is one of the main raw materials employed in the production of various plastic packaging materials such as polystyrene, polypropylene, PVC, and polycarbonate. The worldwide market for plastics, especially transparent plastics, has experienced fluctuations in raw material prices in recent years, which fluctuate due to volatility in energy prices. Transparent plastics manufacturers care about price-sensitive customers. Most commodities are oil-based and vulnerable to fluctuations in commodity prices. Oil prices have been very volatile lately. It is a great challenge for the plastics industry to predict the future price, resulting in low investment in projects related to transparent plastics.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022-2028 |
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Base Year |
2022 |
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Forecast Period |
2023-2028 |
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CAGR |
6.9% |
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Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East & Africa: Saudi Arab, South Africa, UAE |
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Market Leaders Profiled |
DuPont (US), Dow Chemical Company (US), LyondellBasell (Netherlands), SABIC (Saudi Arabia), Covestro (Germany), BASF (Germany), INEOS (UK), PPG Industries (US), Evonik Industries (Germany), LANXESS (Germany), Teijin Limited (Japan), LG Chem (South Korea), Denka (Japan), Trinseo (US), Asahi Kasei (Japan), Eastman Chemical Company (US), Chi Mei Corporation (Taiwan), Arkema (France). |
Transparent Plastics Market - By Type:
Rigid
Flexible
The flexible segment of the transparent plastics market is foreseen to record the highest CAGR over the conjecture period.
PET
PVC
PP
PS
PC
PMMA
The PET polymer type is anticipated to develop at the highest growth rate over the projection period.
Packaging
Building & construction
Electronics & Electrical
Automotive
Consumer goods
The Transparent Plastics Report includes the segmentation of Regions with their respective Countries.
The transparent plastics market in the Asia Pacific is predicted to grow at the highest CAGR during the foreseen period. Due to increased domestic calls, rising income, and easy access to resources, Asia-Pacific has become the leading consumer of transparent plastics. The Asia-Pacific region accounted for a significant market share of the worldwide transparent plastics market in 2021, due to the expansion of end-user industries in the region. Strict environmental laws and the growing call for environmentally friendly packaging materials are restricting the market for transparent plastics in developed countries. The transparent plastics market in the Middle East, Africa, and Latin America is predicted to experience slow expansion over the foreseen period. North America was the second-largest market in 2016 due to a strong call for transparent plastics from the food packaging, construction salvage, and automotive industries. Escalating calls for lightweight auto parts due to environmental concerns and strict regulations are predicted to drive market expansion in this region.
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