Rigid Transparent Plastics Market - Forecast(2024 - 2030)
Rigid Transparent Plastics Market Overview
Rigid
transparent plastics market size is forecast to reach US$86.1
billion by 2027, after growing at a CAGR of 4.8%
during 2022-2027. Transparent plastics are moldable above a particular
temperature and can convert to different shapes according to the end-user
specifications. Acrylonitrile butadiene
styrene, polyvinyl chloride, and polycarbonate are some of the transparent
plastics used for rigid packaging applications. These plastics possess features such as high resistance to
corrosion and chemicals, recyclability, lightweight, moderate electrical and
thermal conductivity, durability, shock resistance, water resistance, and
others. The growing demand from end-use industries such as construction,
packaging, automotive, and others is expected to drive the demand for rigid
transparent plastics during the forecast period. The increasing demand for
packaged food products and the rising popularity of online shopping is likely
to boost demand for the rigid transparent plastics market during the forecast
period. According to the data published by PlaticsEurope, Worldwide plastics
production reached about 367 million tonnes in 2020 and 368 million in 2019.
However, the growing concerns towards plastic disposal are likely to hamper the
market growth during the forecast period.
COVID-19 Impact
The COVID-19
pandemic impacted different industries; one of the few industries that were primarily
hit to some extent was the plastic industry. The delay in manufacturing
activities and shut down different end-use industries such as personal care, automotive,
food & beverages in both developed and developing nations impacted the
market growth for rigid transparent plastics during covid-19. However, the rigid
transparent plastics industry faced problems related to the supply chain, lack
of workforce, and lack of raw materials supply among others.
Report Coverage
The report: “Rigid Transparent Plastics Market Report – Forecast
(2022-2027)” by IndustryARC, covers an in-depth analysis of the following
segments of the Rigid Transparent Plastics industry.
Key Takeaways
- The Asia Pacific is expected to register the highest CAGR of 5.9% during the forecast period (2022-2027). Rapid urbanization, increased domestic demand, rising income levels, and easy access to resources are the major factors driving market growth.
- The polypropylene segment is expected to hold a major market share between the forecast period 2022-2027.
- Development of bio-based plastics and increasing demand for eco-friendly packaging materials are driving the market growth during the forecast period 2022-2027.
Figure: Asia Pacific Rigid Transparent Plastics Market Revenue, 2021-2027 (US$ Billion)
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Rigid Transparent Plastics Market Segment Analysis - By Type
The polypropylene segment accounted for approximately 23% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Polypropylene type of plastic is often used to create products such as yogurt tubs, and hangers, packaging trays, household products, battery cases, and medical devices among others. Polypropylene materials offer various properties such as chemical resistance, toughness, and heat resistance among others. Polypropylene is used in various packaging and is replacing traditional materials such as paper, and cellophane among others. It is widely used in many packaging solutions such as making pallets, bottles, jars, yogurt containers, hot beverage cups, and toys among others. According to The Toy Association, the US toy industry has generated US$ 32.6 billion in 2020 with an annual growth of 16.7% as compared to 2019.
Rigid Transparent Plastics Market Segment Analysis - By End-Use Industry
The packaging
segments accounted for approximately 39% of the
market share in 2021 and are estimated to grow at a significant CAGR during the
forecast period. The change in lifestyle of consumers along with the growing
packaging industry is driving the demand for a rigid transparent plastics market.
Plastics offer high durability and impermeability to water, which has driven
the demand for polymers in the packaging industry. Packaging applications of rigid
transparent plastics include food packaging, healthcare packaging, and cosmetic
& personal care, among others. The automotive and transportation segment is
also expected to hold a significant share during the forecast period. According
to Aerospace Industry Association (AIA), In 2019, USA A&D exports
registered approximately US$148.1 billion. According to General Aviation
Aircraft Shipment Report, about 2,399 airplanes and 674 Helicopter shipments
happen in 2020 globally.
Rigid Transparent Plastics Market Segment Analysis - By Geography
Asia Pacific region held a significant share in the rigid transparent plastics market in 2021, up to 40%, owing to the rapid growth in packaging, food & beverage, and pharmaceutical industries in the region. The presence of developing nations such as India and China is driving the market growth in the region. Abundant raw material sources and the availability of a workforce also support the regional demand. The presence of leading food & beverage and personal care manufacturing companies such as Nestle, PepsiCo, the Coco-cola company, LOreal SA., The Procter & Gamble., Beiersdorf AG., Unilever PLC., and others are supporting the regional growth during the forecast period. According to the facts published by China Chain Store & Franchise Association, China’s food and beverage (F&B) sector reached approximately US$595 billion in 2019. The European region is expected to hold a significant share during the forecast period. According to Plastic Manufacturing Europe, 368 million tonnes of plastic were produced in the world in 2019 as compared to 359 million tonnes produced in 2018.
Rigid Transparent Plastics Market Drivers:
Increasing demand from the packaging industry
The growing
globalization along with growing imports and exports of food & beverage
products, pharmaceutical, and personal care products is supporting the growth
of the packaging industry which is further driving the market for the rigid
transparent plastics market. Rigid plastic packaging offers durability with
light-weighting and cost-effectiveness, while it can also adapt to various
functional requirements. However, the packaging industry has witnessed constant
changes over the years while it emerged as one of the largest sectors in many
developing economies such as India, and China. The packaging industry is the fifth-largest
industry in India’s economy and also the industry is one of the highest growing
sectors in the Indian economy. According to data published by the Packaging
Industry Association of India (PIAI), the industry is growing at a high rate of
22-25% annually. These are some of the factors driving the market growth for rigid
transparent plastics during the forecast period.
Rigid
Transparent Plastics Market Challenges:
Stringent government regulations on the usage of plastic
Traditional
plastics, which are generally petroleum-based take decades to degrade the earth
and cause environmental pollution. Generally, the decomposition of plastic can
last from 400-1000 years and few types of plastics are non-degradable as well.
They pollute the water and also clog waterways, oceans, seas, and lakes
affecting the marine culture and animals. Many governments have taken strict
rules on single-use plastics. In July 2021, the European Union banned
single-use plastic products such as straws, plastic bottles, coffee cups, and
takeaway containers among others in order to control plastic products. The
European Union also banned recycled plastic materials for food & beverage
packaging. These are some of the factors restraining the market growth during
the forecast period.
Rigid Transparent Plastics Industry Outlook
Technology launches,
acquisitions, and R&D activities are key strategies adopted by players in
the Rigid Transparent Plastics market. Major players in
the Rigid
Transparent Plastics market include
- SABIC
- Covestro
- BASF SE
- INEOS
- PPG Industries
- Evonik Industries AG
- LANXESS AG
- Teijin Limited
- LG Chem
- Denka Company Limited
- Trinseo S.A.
- Asahi Kasei Corporation.
- Other Companies
Recent Developments
- In January 2020, SABIC, Gualapack, and Ella’s kitchen collaborated to launch a baby food cap made with advanced recycled plastics. The collaboration demonstrates the high added value of the recycled content in food-contact packaging.
Relevant Reports
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2023-2030 ($M)1.1 Polymer Type Market 2023-2030 ($M) - Global Industry Research
1.1.1 Polycarbonate Market 2023-2030 ($M)
1.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
1.1.3 Polystyrene Market 2023-2030 ($M)
1.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
1.1.5 Polypropylene Market 2023-2030 ($M)
1.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
1.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
1.2 End-user Industry Market 2023-2030 ($M) - Global Industry Research
1.2.1 Packaging Market 2023-2030 ($M)
1.2.2 Healthcare Market 2023-2030 ($M)
1.2.3 Electrical and Electronics Market 2023-2030 ($M)
1.2.4 Automotive Market 2023-2030 ($M)
1.2.5 Building and Construction Market 2023-2030 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
2.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2023-2030 (Volume/Units)
3.1 Polymer Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Polycarbonate Market 2023-2030 (Volume/Units)
3.1.2 Poly-Vinyl Chloride Market 2023-2030 (Volume/Units)
3.1.3 Polystyrene Market 2023-2030 (Volume/Units)
3.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 (Volume/Units)
3.1.5 Polypropylene Market 2023-2030 (Volume/Units)
3.1.6 Poly-Methyl Methacrylate Market 2023-2030 (Volume/Units)
3.1.7 Styrene Block Copolymers Market 2023-2030 (Volume/Units)
3.2 End-user Industry Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Packaging Market 2023-2030 (Volume/Units)
3.2.2 Healthcare Market 2023-2030 (Volume/Units)
3.2.3 Electrical and Electronics Market 2023-2030 (Volume/Units)
3.2.4 Automotive Market 2023-2030 (Volume/Units)
3.2.5 Building and Construction Market 2023-2030 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2023-2030 (Volume/Units)
4.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2023-2030 ($M)
5.1 Polymer Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Polycarbonate Market 2023-2030 ($M)
5.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
5.1.3 Polystyrene Market 2023-2030 ($M)
5.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
5.1.5 Polypropylene Market 2023-2030 ($M)
5.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
5.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
5.2 End-user Industry Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Packaging Market 2023-2030 ($M)
5.2.2 Healthcare Market 2023-2030 ($M)
5.2.3 Electrical and Electronics Market 2023-2030 ($M)
5.2.4 Automotive Market 2023-2030 ($M)
5.2.5 Building and Construction Market 2023-2030 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2023-2030 ($M)
7.1 Polymer Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Polycarbonate Market 2023-2030 ($M)
7.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
7.1.3 Polystyrene Market 2023-2030 ($M)
7.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
7.1.5 Polypropylene Market 2023-2030 ($M)
7.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
7.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
7.2 End-user Industry Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Packaging Market 2023-2030 ($M)
7.2.2 Healthcare Market 2023-2030 ($M)
7.2.3 Electrical and Electronics Market 2023-2030 ($M)
7.2.4 Automotive Market 2023-2030 ($M)
7.2.5 Building and Construction Market 2023-2030 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2023-2030 ($M)
9.1 Polymer Type Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Polycarbonate Market 2023-2030 ($M)
9.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
9.1.3 Polystyrene Market 2023-2030 ($M)
9.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
9.1.5 Polypropylene Market 2023-2030 ($M)
9.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
9.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
9.2 End-user Industry Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Packaging Market 2023-2030 ($M)
9.2.2 Healthcare Market 2023-2030 ($M)
9.2.3 Electrical and Electronics Market 2023-2030 ($M)
9.2.4 Automotive Market 2023-2030 ($M)
9.2.5 Building and Construction Market 2023-2030 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
10.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2023-2030 ($M)
11.1 Polymer Type Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Polycarbonate Market 2023-2030 ($M)
11.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
11.1.3 Polystyrene Market 2023-2030 ($M)
11.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
11.1.5 Polypropylene Market 2023-2030 ($M)
11.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
11.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
11.2 End-user Industry Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Packaging Market 2023-2030 ($M)
11.2.2 Healthcare Market 2023-2030 ($M)
11.2.3 Electrical and Electronics Market 2023-2030 ($M)
11.2.4 Automotive Market 2023-2030 ($M)
11.2.5 Building and Construction Market 2023-2030 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
12.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2023-2030 ($M)
13.1 Polymer Type Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Polycarbonate Market 2023-2030 ($M)
13.1.2 Poly-Vinyl Chloride Market 2023-2030 ($M)
13.1.3 Polystyrene Market 2023-2030 ($M)
13.1.4 Acrylonitrile Butadiene Styrene Styrene Acrylonitrile Market 2023-2030 ($M)
13.1.5 Polypropylene Market 2023-2030 ($M)
13.1.6 Poly-Methyl Methacrylate Market 2023-2030 ($M)
13.1.7 Styrene Block Copolymers Market 2023-2030 ($M)
13.2 End-user Industry Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Packaging Market 2023-2030 ($M)
13.2.2 Healthcare Market 2023-2030 ($M)
13.2.3 Electrical and Electronics Market 2023-2030 ($M)
13.2.4 Automotive Market 2023-2030 ($M)
13.2.5 Building and Construction Market 2023-2030 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
14.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)2.Canada Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
3.Mexico Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
4.Brazil Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
5.Argentina Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
6.Peru Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
7.Colombia Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
8.Chile Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
9.Rest of South America Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
10.UK Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
11.Germany Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
12.France Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
13.Italy Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
14.Spain Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
15.Rest of Europe Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
16.China Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
17.India Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
18.Japan Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
19.South Korea Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
20.South Africa Rigid Transparent Plastics Market Revenue, 2023-2030 ($M)
21.North America Rigid Transparent Plastics By Application
22.South America Rigid Transparent Plastics By Application
23.Europe Rigid Transparent Plastics By Application
24.APAC Rigid Transparent Plastics By Application
25.MENA Rigid Transparent Plastics By Application