Applications in pharmaceutical and FMCG packaging propel the Transparent Plastic
Posted by rohan on September 27th, 2019
Transparent plastics are pliable or 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 market value of transparent plastics market is estimated to grow by USD 108.62 billion in 2018 and is expected to reach USD 209.87 billion by 2023, increasing at a CAGR of about 6.2%.
Market drivers and restraints:
The global, transparent plastics market is mainly driven by the increasing demand for plastics from the packaging industry, mostly from food & beverage packaging. This can be attributed to their moisture barrier, micro-organisms repelling, and corrosion resistant nature, that results in the enhanced shelf life of food products. It is also employed in pharmaceutical and FMCG packaging that in turn is estimated to propel the market during the forecast period. Moreover, rising use of transparent plastics in electric vehicles is expected to boost the market growth owing to their reliable insulation properties, safe operations, high mechanical properties, and others during the forecast period.
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Report segmented as:
By end use:
Based on geography, transparent plastics market is segmented into five regions, namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific led the globalmarket in 2018 due to the high demand forthese plastics from end-use industries such as packaging, construction, automotive, electronics, and consumer goods.
Important market players:
Some of the key players operating in the global transparent plastics market are DowDuPont (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), Covestro AG (Germany), BASF SE (Germany), Evonik Industries (Germany), LG Chem (South Korea), Denka Company Limited (Japan), Trinseo (U.S.), Asahi Kasei Corporation (Japan), and Eastman Chemical Company (U.S).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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