Global rigid transparent plastic market to grow at CAGR of 5.7% uptil 2018

The global rigid transparent plastic market reached US$18 blnn in 2012. This market is expected to grow to US$19.1 bln in 2013 and nearly US$25.2 bln in 2018, with a compound annual growth rate (CAGR) of 5.7% for the five-year period, 2013 to 2018, as per BCC Research. Rigid transparent plastics are nothing but thermoplastics like acrylic, acrylonitrile butadiene styrene (ABS), polycarbonate, polysulfones, polypropylene and polyvinyl chloride (PVC) styrene acrylonitrile (SAN), acrylic-styrene copolymers (SMMA), nylon and cellulosic resins. They are used in aquariums, lighting fittings, aircrafts and more. Acrylic, also known as poly methyl methacrylate (PMMA), is a transparent thermoplastic that is lightweight and shatter resistant. Some other major applications of these plastics are in construction, household appliances, toys, sight glasses, cosmetic surgeries and more. Transparent plastics are available in various forms like injection molded, blow molded, extruded and some more. These transparent plastics may be in form of films or cast sheets. Transparency Market reports, Europe and North America are the key market segments followed by Asia-Pacific. Healthy growth is anticipated in coming years for these market segments. Growing market for rigid transparent plastic can be estimated due to increase in the demand for clear grade plastics. It is already replacing glass in various applications like eyeglasses, vehicle lighting systems and more. Rigid transparent plastics are expected to replace glass in a wider range of applications in the near future because of their superiority in various parameters. In addition, technological advancement in rigid transparent plastics promises rise in its application base, leading to growth in the market demand. Plastics are durable and do not degrade easily hence the environmental issues may hold back the market for plastics. Manufacturers are working on developing plastics that can be recycled and hence trying to reduce its impact on the environment. Various market opportunities can be anticipated for clear plastics in various applications in automotive, aerospace, electronic and medical sector in near future. Some of the key players in the market are BASF SE, DuPont, Dow Chemical Company, Formosa Plastics, SABIC Innovative Plastics, Sartomer USA LLC, Bayer Material Sciences, Styron LLC, Ineos Nova LLC, PPG Industries Inc., EMS Chemie North America Inc, Plaskolite Inc, and Evonik/Cyro LLC among others. As per BCC Research, after recovering from the economic downturn caused by the global financial crisis, the rigid transparent plastics market rebounded in 2010. Indeed, with applications in a range of industries, including healthcare, automotive, construction, electronics, and household goods, some sectors of this market are predicted to experience relatively brisk growth in this five-year period, while others will record slow growth. Among the regions addressed in this report (China, Asia, Europe, South America, and ROW), China is by far the largest regional market for rigid transparent plastics. BCC Research expects the Chinese market to continue to grow and increase its market share from 2013 through 2018.