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Rigid Transparent Plastic Market to witness a substantial growth from 2017 to 2024

Author : Ronak Bora | Published Date : 2019-04-11 

The Rigid Transparent Plastic Market report add detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the industry based on product segment, technology, end user segment and region.

Rigid Transparent Plastic Market size is likely to witness a significant rise during the forecasted period owing to continuous rise in disposable income and frequently changing lifestyle promotes the product market for packaging purposes. Upsurge in demand for online shopping and packaged food products will also drive industry growth. Also, rising need for ready to use products is expected to bring a substantial upswing in the industry over the forecasted period.

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Rigid transparent plastic is thermoplastic in nature owing to its superior properties including lightweight and shatter resistance. They are used in end number of applications in aircraft, aquariums, bottles, electronic equipment, pipes, floorings and eyeglasses. Expansion in the product application scope in numerous industries is likely to drive the high demands for rigid transparent plastic market over the forecasted period. On the basis of types, rigid transparent plastic industry is segmented into polycarbonate, polystyrene, polyvinyl chloride, ABS, SBC and polypropylene. Among these, polycarbonates are expected to grow in demand due to its widespread applications in construction, electronics, automotive and aircraft industries. Advancement in economic conditions of several emerging economies including India and China will propel the product industry.

Significant rise in demand for clear grade plastics possesses an effective impact on the global rigid transparent plastic market. Replacing glass with these products in several number of applications in automotive industry including vehicle lighting systems and spectacles will fuel industry growth. High product demand will propel advancement in technologies, which will enlarge its application base over the forecasted period. Various key manufacturers are focusing on new designs and molding techniques of the product to enhance durability and effective compact packaging solutions, especially in personal care products to attract more customers, which in turn will have a positive impact on rigid transparent plastic industry.

Rigid transparent plastic market can be categorized based on its applications in numerous industries including packaging, infrastructure, food & beverages, automotive, pharmaceuticals, housewares, toys and electrical & electronics. Construction industry is anticipated to grow in demand owing to tremendous product features including high molecular weight, energy efficiency, lightweight and low thermal and electrical conductivity. Also, packaging industry is growing strongly due to polyethylene terephthalate (PET) used in malleable bottles and containers are strong and translucent. They can resist gas and moisture in extreme conditions which is expected to drive the rigid transparent plastic industry demand substantially.

North America is projected to observe high demand in the rigid transparent plastic market owing a varied range of applications in various chemicals and medical devices. Growing application in chemical industry in the region will boost the demand for PET, used in chemical storage activities due to its low cost and maintenance. Several manufacturers are engaged in research and development operations to develop innovative products offering high performance due to stringent government regulations for reducing harmful greenhouse effects.

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Asia Pacific, led by China, India and Indonesia is projected to grow with high in various industries including packaged mineral water, food & beverages, medicines and personal care goods, in turn driving rigid transparent plastic market growth. Increasing use of these products for packaging purposes over other substitutes due to their high sturdiness will flourish the rigid transparent plastic business. Changing lifestyle in the region is also a vital driving force for the rigid transparent plastic industry growth over the forecasted period.

Rigid transparent plastic market is highly fragmented and competitive in nature owing to the presence of various large and small scale industry players at global as well as local levels. Some of the key industry player include BASF, Dow Chemical Company, Reliance Industries, PPG Industries, DuPont, ExxonMobil, Evonik Industries and Eastman Chemical Company. Other prominent players are LG Chem, Total Petrochemicals, Chi Mei, Plaskolite, Sinopec Group, Ineos ChlroVinyls, Braskem and Hanwha Chemical.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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