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Transparent Plastics Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | DuPont de Nemours Inc., Dow Chemical Company, LyondellBasell Industries NV, Saudi Basic Industries Corporation
Transparent Plastics Market Characteristics
The Business Research Company offers in-depth market insights through Transparent Plastics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The transparent plastics market size has grown strongly in recent years. It will grow from $133.79 billion in 2023 to $143.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to advancements in transparency, resilience to corrosion and chemicals, recycling and sustainability, globalization and market expansion, environmental impact..
The transparent plastics market size is expected to see strong growth in the next few years. It will grow to $189.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing demand for packaging, cost-efficiency and performance, versatility and customizability, healthcare industry demand, consumer preferences and aesthetic appeal.. Major trends in the forecast period include supply chain sustainability, r&d in biopolymers, shift in material substitution, customization and design flexibility..
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Market Segmentation:
The transparent plastics market covered in this report is segmented -
1) By Type: Rigid Transparent Plastics, Flexible Transparent Plastics
2) By Polymer Type: Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC), Polypropylene (PP), Polystyrene (PS), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Other Polymers
3) By Application: Packaging, Building And Construction, Electrical And Electronics, Automotive, Consumer Goods, Healthcare, Other Applications
Major Driver - The Surge In Electric Vehicles Boosting The Transparent Plastics Market
An increase in demand for electric vehicles is expected to propel the transparent plastics market. Electric vehicles (EVs) are either entirely or partially powered by electricity. Transparent plastics are used in electric vehicles for packaging and vehicle parts such as interior and exterior panels, windshields, car indicator covers, windows, and other parts as they are lightweight, less fuel-hungry, and affordable. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales accounted for 14% of all new cars sold globally in 2022, a considerable rise from 9% in 2021. This trend is expected to continue in 2023, with over 2.3 million electric cars sold in the first quarter alone, representing a 25% increase from the same period last year. Furthermore, it is projected that 14 million electric cars will be sold by the end of 2023, marking a 35% year-on-year increase, with new purchases accelerating in the second half of the year . As a result, the increase in demand for electric vehicles is driving the transparent plastics market.
Competitive Landscape:
Major companies operating in the transparent plastics market report are DuPont de Nemours Inc., Dow Chemical Company, LyondellBasell Industries NV, Saudi Basic Industries Corporation, Covestro AG, BASF SE, Ineos Group Limited, PPG Industries Inc., Evonik Industries AG, Lanxess AG, Teijin Limited, LG Chem, Denka Company Limited, Trinseo plc, Asahi Kasei Corporation, Eastman Chemical Company, Chi Mei Corporation, Arkema S.A., Braskem SA, Chevron Phillips Chemical Company, China National Chemical Corporation, Formosa Plastics Corporation, Huntsman Corporation, Idemitsu Kosan Co. Ltd., Ineos Chlorvinyls Ltd., Mitsubishi Chemical Corporation, Samyang Foods Co. Ltd., Shin-Etsu Chemical Co. Ltd., Solvay SA, Westlake Corporation
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Top Trend - Bio-Based Transparent Plastics Gain Traction In Transparent Plastics Market
Bio-based transparent plastics are a key trend gaining popularity in the transparent plastics market. Bio-based plastics, as opposed to conventional plastics, are manufactured entirely or partly from biological sources. Bio-based transparent plastics are made from renewable biomass sources, such as plant fats and oils, woodchips, sawdust, and recovered food waste. They are not always biodegradable or compostable. Major players in the market are focusing on launching bio-based polymers and plastics for market growth. For instance, in October 2021, Lanxess, a Germany-based chemical company, launched Durethan BLUEBKV60H2.0EF. It is a sustainable high-performance plastic which either have a carbon footprint that is at least 50% lower than that of conventional products, or at least 50% made from circular (recycled or biobased) raw materials.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transparent Plastics Market Characteristics
3. Transparent Plastics Market Trends And Strategies
4. Transparent Plastics Market - Macro Economic Scenario
5. Transparent Plastics Market Size And Growth
…..
27. Transparent Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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