Rigid Transparent Plastics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Rigid Transparent Plastics Market Analysis
The market for rigid transparent plastics market is expected to grow at a CAGR of more than 6% during the forecast period (2021-2026).
Currently, due to the COVID-19 pandemic, the packing industry is on a booming trend, by material, the plastics sector has the highest demand. The manufacturers who initially prefer another type of plastics for apparent health care safety, as it was much safer, more adorable, and long-lasting for years, are now using plastic for the packing industry. This factor has increased the demand for rigid transparent plastic.
- In short term, the growing demand for plastic packaging in the medical industry leads to the demand for rigid transparent plastics.
- However, shifting of focus toward flexible packaging over rigid packaging tends to constrain the demand for rigid transparent plastic.
- The recyclability of plastics is projected to act as an opportunity for the market in future.
- Europe is dominating the overall rigid transparent plastic market, during the forecast period.
Rigid Transparent Plastics Market Trends
This section covers the major market trends shaping the Rigid Transparent Plastics Market according to our research experts:
Increasing Demand from Packaging Industry
- The Global packaging industry has come across steady growth from the recent years and is expected to continue, driven by shifts in choice of substrates, expansion of new markets, and changing ownership dynamics.
- Additionally, growth in pharmaceuticals, cost-effectiveness of thermoforming and the ease of disposal are some of the other factors driving the packaging industry nowadays.
- Packaging is the 5th largest sector in India's economy and is one of the highest growth sectors in the country. According to Packaging Industry Association of India (PIAI), the sector is growing at a rate of 22-25% annually.
- Owing to the rising population in China, people are increasingly consuming products like food, beverages, and on-the-go pharmaceuticals. This is increasing the demand for packaging solutions that are convenient and portable. The Chinese packaging industry is expected to grow at a rate of 5.9% per year till 2020.
- In the United States, among the different types of packaging, the flexible packaging market is growing at a faster pace, owing to the benefits of flexible packaging and higher end-user preference over other packaging types. The changing trends in consumer behavior and the manufacturers' convenience are resulting in a faster growth of the flexible packaging market in the country.
- The packaging industry in Germany is also growing at a rapid pace, owing to the huge increase in domestic e-commerce and rising foreign exports. In addition, the increasing preference for packaged food and beverages is also leading to the growth of packaging industry.
- All the aforementioned factors are likely to help the market for rigid transparent plastics flourish in the packaging segment, during the forecast period.
- Also, due to the COVID-19 pandemic, the demand of rigid plastic in medical industry have been increased. However, the production of rigid plastic products had declined due to shutdown of manufacturing facility, which have constrained the growth of the short period of time.
Germany to dominate the European Market
- In Europe, Germany represents the largest economy and it is the fifth-largest economy in the world in terms of GDP. The growth of the automotive, healthcare, and construction & building sectors in the country have contributed largely toward the increase in demand for rigid transparent plastics.
- Moreover, the electronics & telecommunication sector is also growing, with the increase in the use of IT services in almost all industries throughout the country. With an increase in the use of consumer electronics, the demand for rigid transparent plastics is expected to rise gradually in the country.
- Germany witnessed an increase of over 15% in the new residential building permits, and this growth trend is expected to continue, owing to the growing demand for real estate, growing population, increased job security, and low borrowing costs.
- Hence, with the booming housing market and real estate demand, the construction & building industry is expected to grow rapidly, in turn, increasing the market for rigid transparent plastics in the country.
- Additionally, In Europe, Germany holds the largest healthcare market. The annual expenditure on health in the country is estimated to be more than EUR 320 billion, excluding fitness and wellness.
- With the demographic change and digitalization, the country has been investing in mobile healthcare facilities and is expected to grow by over EUR 3 billion shortly, thereby, providing a platform to further expand the German healthcare sector.
- Above mentioned factors are driving the market for rigid transparent plastics in the country.
- However, due to sudden break on construction activities, and shutdown of manufacturing facilities during the COVID-19 pandemic, the demand of rigid transparent plastic tends to decline, which tends to constrain the growth of the market in the current period of time.
Rigid Transparent Plastics Industry Overview
The rigid transparent plastics market is expected to be partially consolidated, with the top five-six players occupying a significant share of the market. Key players in the rigid transparent plastics market include SABIC, BASF SE, Covestro AG, Arkema, and LOTTE Chemical CORPORATION, among others.
Rigid Transparent Plastics Market Leaders
-
SABIC
-
BASF SE
-
Arkema
-
LOTTE Chemical CORPORATION
-
Covestro AG
*Disclaimer: Major Players sorted in no particular order
Rigid Transparent Plastics Market Report - Table of Contents
-
1. INTRODUCTION
-
1.1 Study Assumptions
-
1.2 Scope of the Study
-
-
2. RESEARCH METHODOLOGY
-
3. EXECUTIVE SUMMARY
-
4. MARKET DYNAMICS
-
4.1 Drivers
-
4.1.1 Increasing Demand for Packed Foods from the Food & Beverage Industry
-
4.1.2 Rising Replacement of Conventional Materials by Rigid Transparent Plastics
-
-
4.2 Restraints
-
4.2.1 Growing Concerns Regarding Plastic Disposal
-
4.2.2 Shifting of Focus Toward Flexible Packaging over Rigid Packaging
-
-
4.3 Industry Value-Chain Analysis
-
4.4 Porter's Five Forces Analysis
-
4.4.1 Bargaining Power of Suppliers
-
4.4.2 Bargaining Power of Consumers
-
4.4.3 Threat of New Entrants
-
4.4.4 Threat of Substitute Products and Services
-
4.4.5 Degree of Competition
-
-
-
5. MARKET SEGMENTATION
-
5.1 Polymer Type
-
5.1.1 Polycarbonate (PC)
-
5.1.2 Polyvinyl Chloride (PVC)
-
5.1.3 Polystyrene (PS)
-
5.1.4 Acrylonitrile Butadiene Styrene (ABS) & Styrene Acrylonitrile (SAN)
-
5.1.5 Polypropylene (PP)
-
5.1.6 Polymethyl Methacrylate (PMMA)
-
5.1.7 Styrene Block Copolymers (SBC)
-
5.1.8 Other Polymer Types
-
-
5.2 End-user Industry
-
5.2.1 Packaging
-
5.2.2 Healthcare
-
5.2.3 Electrical and Electronics
-
5.2.4 Automotive
-
5.2.5 Buildings and Construction
-
5.2.6 Other End-user Industries
-
-
5.3 Geography
-
5.3.1 Asia-Pacific
-
5.3.1.1 China
-
5.3.1.2 India
-
5.3.1.3 Japan
-
5.3.1.4 South Korea
-
5.3.1.5 Rest of Asia-Pacific
-
-
5.3.2 North America
-
5.3.2.1 United States
-
5.3.2.2 Canada
-
5.3.2.3 Mexico
-
-
5.3.3 Europe
-
5.3.3.1 Germany
-
5.3.3.2 United Kingdom
-
5.3.3.3 Italy
-
5.3.3.4 France
-
5.3.3.5 Spain
-
5.3.3.6 Rest of Europe
-
-
5.3.4 South America
-
5.3.4.1 Brazil
-
5.3.4.2 Argentina
-
5.3.4.3 Rest of South America
-
-
5.3.5 Middle-East and Africa
-
5.3.5.1 Saudi Arabia
-
5.3.5.2 South Africa
-
5.3.5.3 Rest of Middle-East and Africa
-
-
-
-
6. COMPETITIVE LANDSCAPE
-
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
-
6.2 Market Share/Ranking Analysis**
-
6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
-
6.4.1 Arkema Group
-
6.4.2 Asahi Kasei Corporation
-
6.4.3 Ashland
-
6.4.4 BASF SE
-
6.4.5 Chevron Phillips Chemical Company
-
6.4.6 Chi Mei Corp.
-
6.4.7 Covestro AG
-
6.4.8 DuPont
-
6.4.9 DSM
-
6.4.10 Evonik Industries AG
-
6.4.11 Formosa Plastics Group
-
6.4.12 Huntsman Corp.
-
6.4.13 Idemitsu Kosan
-
6.4.14 Ineos Chlorvinyls Ltd
-
6.4.15 Lanxess
-
6.4.16 LG Chem
-
6.4.17 Lotte Chemical Corporation
-
6.4.18 Mitsubishi Engineering Plastics Corporation (Mitsubishi Chemical Corporation)
-
6.4.19 SABIC
-
6.4.20 Samyang
-
6.4.21 Shin-Etsu Chemical Co. Limited
-
6.4.22 Solvay
-
6.4.23 Teijin Limited
-
6.4.24 Trinseo
-
6.4.25 Westlake Chemical Corporation
-
- *List Not Exhaustive
-
-
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
-
7.1 Recyclability of Plastics
-
7.2 Other Opportunities
-
Rigid Transparent Plastics Industry Segmentation
The market is segmented by polymer type, end-user industry, and geography. On the basis of polymer type, the market is segmented into Polycarbonate, Polyvinyl Chloride, Polystyrene, Acrylonitrile Butadiene Styrene and Styrene Acrylonitrile, Polypropylene, Polymethyl Methacrylate, Styrene Block Copolymers, and Other Polymer Types. By End-user Industry, the market is segmented into Packaging, Healthcare, Electrical and Electronics, Automotive, Buildings and Construction, and Other End-user Industries. The report also covers the market size and forecasts for the rigid transparent plastic market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) for each segments.
| Polymer Type | |
| Polycarbonate (PC) | |
| Polyvinyl Chloride (PVC) | |
| Polystyrene (PS) | |
| Acrylonitrile Butadiene Styrene (ABS) & Styrene Acrylonitrile (SAN) | |
| Polypropylene (PP) | |
| Polymethyl Methacrylate (PMMA) | |
| Styrene Block Copolymers (SBC) | |
| Other Polymer Types |
| End-user Industry | |
| Packaging | |
| Healthcare | |
| Electrical and Electronics | |
| Automotive | |
| Buildings and Construction | |
| Other End-user Industries |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Rigid Transparent Plastics Market Research FAQs
What is the current Rigid Transparent Plastics Market size?
The Rigid Transparent Plastics Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Rigid Transparent Plastics Market?
SABIC, BASF SE, Arkema, LOTTE Chemical CORPORATION and Covestro AG are the major companies operating in the Rigid Transparent Plastics Market.
Which is the fastest growing region in Rigid Transparent Plastics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rigid Transparent Plastics Market?
In 2024, the Europe accounts for the largest market share in Rigid Transparent Plastics Market.
What years does this Rigid Transparent Plastics Market cover?
The report covers the Rigid Transparent Plastics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rigid Transparent Plastics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Rigid Transparent Plastics Industry Report
Statistics for the 2024 Rigid Transparent Plastics market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Rigid Transparent Plastics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Rigid Transparent Plastics Report Snapshots
