LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global rigid transparent plastics market is expected to grow at a CAGR of close to 6% during the forecast period.
“Polycarbonate has exceptional optical clarity, dimensional stability, electrical resistance, toughness, and high heat resistance. These properties makes it suitable for usage in industries such as construction, automotive, transportation, consumer goods, packaging, and medical devices”
This research report titled ‘Global Rigid Transparent Plastics Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Analysts at Technavio forecast the global rigid transparent plastics market size to reach USD 21.64 billion by 2021. The rising demand for rigid transparent plastics will be one of the key drivers of the market through the forecast period.
The rigid transparent plastics markets in emerging economies such as China, Brazil, and India are expected to experience high growth. This growth will be driven by favorable government policies towards these plastics due to their eco-friendly and reusable nature.
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Based on product type, the report categorizes the global transparent plastics market into the following segments:
- Polycarbonate (PC)
- Polystyrene (PS)
- Poly-methyl methacrylate (PMMA)
- Styrene acrylonitrile (SAN) and acrylonitrile butadiene styrene (ABS)
- Polyvinyl chloride (PVC)
- Polypropylene (PP)
The top four revenue-generating product segments in the global rigid transparent thermoplastics market are discussed below:
“Polycarbonate has exceptional optical clarity, dimensional stability, electrical resistance, toughness, and high heat resistance. These properties makes it suitable for usage in industries such as construction, automotive, transportation, consumer goods, packaging, and medical devices,” says Ajay Adikari, one of the lead analysts at Technavio for plastics, polymers, and elastomers research.
The global rigid transparent plastics market for polycarbonate was valued at USD 5.50 billion in 2016 is expected to grow at a CAGR of over 7% during the forecast period. APAC is emerging as the largest market for polycarbonate, due to the relocation of end-use industries to the region owing to the easy availability of raw materials and low labor cost.
Polystyrene is a stiff and solid plastic produced by the polymerization of styrene. It is environmentally-friendly and low-priced, which makes it suitable to be used in the packaging, construction, and electronic industries. The market segment has enormous potential to grow in developing economies such as Brazil, China, India, and Russia, due to increase in demand for consumer products with a rise in population.
Poly-methyl methacrylate (PMMA)
PMMA is a rigid and transparent plastic used in skylights, shatterproof windows, aircraft canopies, and illuminated signs. It is slowly gaining popularity in optoelectronics, automotive, building and construction, and packaging applications.
“There is a high demand for electronic products in countries such as South Korea, Taiwan, and China, which is likely to create additional need for PMMA during the forecast period. APAC is the most attractive market for this segment owing to relaxed emission regulations and cheap availability of technology and labor,” says Ajay.
Styrene acrylonitrile (SAN) and acrylonitrile butadiene styrene (ABS)
Styrene acrylonitrile is a copolymer comprising of styrene and acrylonitrile, which has high chemical resistance, high transparency, good dimensional stability, high rigidity, high processability, and high heat resistance. They are widely used in automotive, packaging, houseware, and industrial applications.
Butadiene-styrene has high transparency, good dimensional stability, and high processability. It finds utility in applications such as appliances, electrical products, automotive, consumer, construction, and others. The increasing investments towards R&D of innovative and high-quality ABS products are expected to drive the market.
The top vendors highlighted by Technavio’s research analysts in this report are:
- The Dow Chemical Company
- Eastman Chemical Company
- Evonik Industries
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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