Global rigid transparent plastics market worth US$4.41 bln by 2019

29-Jun-16

Global rigid transparent plastics market is projected to reach US$4.41 bln by 2019 from US$3.18 bln in 2014, at a CAGR of 6.8% from 2014 to 2019, as per Micro Market Monitor. Based on applications, the global rigid transparent plastics market has been segmented into building & construction, automotive, appliances, electrical & electronics, packaging, medical, and others. Building & construction and electrical & electronics accounted for the largest market share of 43.7% in 2014. These segments are expected to continue dominating the market, although the automotive segment is projected to grow at a faster CAGR during the forecast period. The lightweight and durability of the rigid transparent plastics materials are some of the major reasons for the growth of this market.

A rigid-plastic material is defined as a material that does not display elastic deformation and does not have elastic behavior or strain hardening effects. Rigid plastics are commonly used in packaging industry that includes cups, bottles, pots, cans, and closures. They have application in industries such as building and construction, automotive, appliances, electrical and electronics, medical and so on. The rigid transparent plastics, on the other hand, belong to a family of plastics that are highly toughened and are used for bulk and unit material packaging due to their unique features which are non-corrosive, light weight, cheap, and easy to mold. They are used in pharmaceuticals, food & material handling, agriculture and adhesive coating container.