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(IndustryNews247.Com, September 12, 2019 ) Market Overview:
The transparent plastics market size was worth USD YY million in 2019 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Transparent plastics are moldable above a specific temperature and return to a solid state upon cooling. These plastics exhibit properties such as recyclability, resistance to corrosion and chemicals, lightweight, low electrical and thermal conductivity, shock resistance, durability, water resistance, and others. The, transparent plastics market is primarily driven by the rising interest for plastics from packaging industry, particularly from food & beverage packaging.
Improved shelf-life of packaged food products and rising adoption of transparent plastics worldwide are the crucial drivers for the growth of the market. Rising demand for packed foods from the food and beverage industry and increasing replacement of conventional materials by rigid transparent plastics are expanding the market growth.
Increasing demand for eco-friendly packaging materials in developed regions and environmental pollution due to the low biodegradability of plastics are the major restraints hampering the market growth.
By polymer type, the transparent plastics market is segmented into
• Acrylonitrile butadiene styrene
• Polyethylene terephthalate
• Polyvinyl chloride
Others include poly methyl methacrylate and polystyrene.Polycarbonate is a high-performance tough, amorphous and transparent thermoplastic polymer offering unique combination of properties such as high impact strength, dimensional stability, good mechanical properties, etc.
By type, the transparent plastics market is classified into:
Rigid Transparent Plastic Market size is likely to hold a major share during the forecasted period due to continuous growth in disposable revenue and frequently changing lifestyle promotes the product market for packaging purposes.
By geography, the Transparent Plastics market is segmented into:
• North America
• Asia-Pacific (APAC)
• South America
• Middle East and Africa (MEA)
North America is dominating the Transparent Plastics market in 2018 and estimated to hold largest market size over the forecast period (2019-2026). Huge demand for transparent plastics from the food packaging, reviving construction, and automotive industries are the major factors for the market growth in this region.
The Transparent Plastics market is a partially competitive having significant share of top companies.
Key Players are:
• Asahi Kasei Corporation
• Eastman Chemical Company
• LG Chem, Denka Company Limited
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