Global rigid transparent plastics market estimated to reach US$4.41 bln by 2019

15-Jul-15

The global rigid transparent plastics market was valued at US$3.18 bln in 2014 and is expected to reach US$4.41 bln by 2019, at a CAGR of 6.8% from 2014 to 2019, as per Micro Market Monitor. In 2014, building & construction was the largest application segment with a market share of 22.9% in the global rigid transparent plastics market. This segment is projected to grow at a CAGR of 4.4% from 2014 to 2019. The electrical & electronics application segment was the second-largest, with 20.8% market share, and is expected to grow at a CAGR of 5.0% during the forecast period. Polycarbonate and polystyrene segments are the major segments in the global rigid transparent plastics market, followed by PMMA. The polycarbonate segment contributed a share of 48.1% to this market in 2014. It is projected to grow at a CAGR of 5.3% from 2014 to 2019. The polystyrene segment contributed a share of 34.1% and is expected to grow at a CAGR of 3.4% during the forecast period. The Asia-Pacific region constituted 55.8% of the global rigid transparent plastics market, and the market of this region is projected to grow at a CAGR of 5.4% from 2014 to 2019. New product launches and agreements are the key growth strategies adopted by the key players in this market. Manufacturing companies and end-product manufacturers infuse high investments for future advancements and technology modifications to match the ever growing demands coming from various end user industries.