Top Companies in Transparent Plastics Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Transparent Plastics Market is projected to reach USD 179.3 billion by 2028 at a CAGR of 5.30% over the forecast period.
The Global Transparent Plastics Market is valued at USD 131.5 billion in 2021 and is projected to reach USD 179.3 billion by 2028 at a CAGR of 5.30% over the forecast period. Increased demand from end-use industries like the automotive, construction, and consumer goods sectors is driving the growth of the global transparent plastic market. The global market for transparent plastic is also anticipated to grow due to the extended shelf life of packaged food products and the simplicity of personalization. In addition, increased demand for transparent plastic in developing nations like China and India, where it is widely utilized for food and beverage packaging, is anticipated to fuel market expansion globally. Furthermore, it is anticipated that developing transparent bio-based plastics and improving end-user consumer living standards will present the global market with attractive growth potential.
The market for Transparent Plastic is expanding because it is simple to personalize, and packed goods now have a longer shelf life. In addition, a rise in demand for packaged foods and online shopping has accelerated the market's growth.
The non-biodegradable characteristics of transparent plastic have been found to have a major negative influence on the environment. The demand for eco-friendly packaging in emerging nations is predicted to rise, which will slow the growth of the worldwide transparent plastic market.
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Amidst Exponential Growth in Transparent Plastics Adoption, What Trends Should We Look Forward to?
- The development of transparent polymers derived from biomaterials is one trend that is anticipated in the Transparent Plastics sector. The demand for biodegradable polymers is rising. Transparent biodegradable polymers that can be disposed of in landfills are predicted to be the main factor driving market expansion in the future.
- Increased production of electric vehicles is another trend that experts think will stick around in the Transparent Plastics sector. In the automotive sector, transparent plastic is widely utilized in packaging and car parts. These uses have increased recently and will probably keep growing compared to other materials used in automobiles.
- Since they produce a variety of useful things including medical equipment, implants, pharmaceutical consumables, and packaging materials like prescription bottles, syringes, and others, the pharmaceutical sector and healthcare facilities have an increasing demand for Transparent Plastics.
- Plastics have the edge over other materials like glass and metal due to their lightweight nature. Due to their strength, beauty, performance, and ease of handling, plastics are becoming more common in various end-use industries.
The Transparent Plastics Market is dominated by globally established players such as EI. DuPont de Nemours Inc. (US), The Dow Chemical Company (US), LyondellBasell Industries Holdings BV (Netherlands), Saudi Basic Industries Corporation (Saudi Arabia), Covestro, BASF SE (Germany), INEOS Group Ltd. (UK), PPG Industries Inc. (US), Evonik Industries AG (Germany), LANXESS Chemicals Company (Germany). These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth Transparent Plastics Market.
Let's Look at the Top 5 Companies That are Taking the Transparent Plastics Market by Storm
The Transparent Plastics Market is expected to grow from USD 131.5 billion in 2021 to USD 179.3 billion in 2028 because end-use industries, including the automobile, construction, and consumer goods, are increasingly in demand. In addition, as transparent plastic is frequently used for food and beverage packaging, rising demand for it in developing nations like India and China is anticipated to fuel the expansion of the global market.
- Dow Chemical Company (US)
The Dow Chemical Company, sometimes known as Dow Inc., is a global chemical company headquartered in Midland, Michigan. One of the top three chemical producers in the world is the business. Transparent Plastics, chemicals, and agricultural goods are all produced by Dow.
- Du Pont De Nemours and Company (US)
DuPont de Nemours, Inc., or simply DuPont, was established in 1802 by French-American chemist and businessman du Pont de Nemours. The company started as a big clear plastic supplier and contributed significantly to Delaware's development.
- Lyondellbasell Industries (Netherlands)
A multinational chemical corporation with offices in London, the UK and Houston, Texas, LyondellBasell Industries N.V. was founded in the Netherlands. The business is the largest licensee of technology involving polyethylene and polypropylene, including transparent plastic.
- Evonik Industries AG (Germany)
German specialty chemicals firm Evonik Industries AG is headquartered in Essen, North Rhine-Westphalia. It is one of the world's biggest transparent plastic producers and Germany's second-largest chemical firm.
- LANXESS AG (Germany)
In 2004, the chemicals division and some of the polymers business of Bayer AG were spun off to become Lanxess AG, German specialty chemicals and Transparent Plastics firm with headquarters in Cologne.
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