Transparent plastics are materials that allow light to pass through them, enabling visibility of products, and are used across industries to showcase contents. Transparent plastics such as polycarbonate, polyvinyl chloride, polystyrene, polyethylene terephthalate and polymethyl methacrylate are durable, lightweight and affordable options for manufacturing applications that require visibility. They have become essential in manufacturing electronics, home appliances, construction materials and automotive components due to advantages such as environmental resilience and protection against UV light.
The global Transparent Plastics Market is estimated to be valued at US$ 167.1 Bn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth in the transparent plastics market is majorly driven by rising demand from the electronics and construction industries. Transparent plastics such as polycarbonate and polystyrene are increasingly replacing glass in appliances, gadgets and infrastructure as they are more durable and weigh significantly lesser than glass. They serve as protective coverings for devices like smartphones, laptops and televisions while enhancing visibility of displays. In construction, transparent plastics are used in walls, ceilings, windows and roofs as they do not break, crack or get dull over time like glass. They improve aesthetics, enhance natural light transmission and reduce energy costs for residential and commercial spaces.
Segment Analysis
The transparent plastics market is segmented by polymer type, application, and region. By polymer type, the polycarbonate segment dominates the market and accounts for more than 30% share of the global transparent plastics market. Polycarbonate has superior properties such as high impact resistance, thermal resistance and dimensional stability which make it suitable for a wide range of applications. By application, the packaging segment accounts for the largest share as transparent plastics allow the product visibility and enhances appeal.
Key Takeaways
Global Transparent Plastics Market Size is expected to witness high growth over the forecast period owing to rising demand from construction and automotive industries.
Regional analysis: Asia Pacific dominates the global transparent plastics market and is expected to maintain its dominance during the forecast period.
This is attributed to robust industrial activities and growth of the packaging and construction industries in the region. Countries including China, India, and South Korea are major countries contributing to the growth of transparent plastics market in Asia Pacific.
Key players related content: Key players operating in the transparent plastics market are Dow Inc., Covestro AG, Eastman Chemical Company, SABIC, Arkema S.A., Mitsubishi Chemical Corporation, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Teijin Limited, LG Chem Ltd. Dow Inc. and Covestro AG holds prominent market share in terms of revenue.
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