The rigid transparent plastics market is expected to grow by USD 2.81 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Rigid Transparent Plastics Market 2020-2024 (Graphic: Business Wire)
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Rigid transparent plastics are durable, resistant to UV radiation, and offer optical clarity and better insulation. They find various applications across industries such as automotive, aviation, construction, electrical and electronics, and lighting. For instance, in the automobile industry, rigid transparent plastics are widely used in the production of windshields and sun visors, light covers, and automotive glazing. Similarly, in the electrical and electronics industry, they are used to make screens for laptops, smartphones, and TVs. Many such applications across various industries are fueling the growth of the global rigid transparent plastic market.
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As per Technavio, the increasing demand for convenient packaging solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Rigid Transparent Plastics Market: Increasing Demand for Convenient Packaging Solutions
Rapid urbanization and expanding working population have increased the demand for convenience products across the world. This has created a need for efficient packaging solutions for products that require minimum effort to store and transport. Rigid transparent plastic packaging is cost-effective, light in weight, and easy to carry compared to other packaging materials such as glass or metal. Also, they significantly reduce transportation costs. Such benefits have increased the preference for rigid transparent plastic packaging solutions among end-users. This trend is expected to have a positive impact on the growth of the global rigid transparent plastic market during the forecast period.
"The growing use of rigid transparent plastics in 3D printing and the increasing demand from emerging economies will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Rigid Transparent Plastics Market: Segmentation Analysis
This market research report segments the rigid transparent plastics market by Type (Building and construction, Electrical and electronics, Automotive, Packaging, and Others), Geography (APAC, Europe, North America, South America, and MEA), and Application (Polycarbonate, Polystyrene, Polymethyl methacrylate, SAN and ABS, and Others).
The APAC region led the rigid transparent plastics market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing consumption of packaged food in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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