Rising Demand From Construction and Automotive Industries |...

Rising Demand From Construction and Automotive Industries

نشر بتاريخ 2023-11-30 10:42:34

1كيلو بايت

The transparent plastics market is estimated to be valued at US$ 167.1 Bn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

· Strength: Transparent plastics have high transparency and light transmission properties which make them ideal for manufacturing windows, barrier films and LCD displays. They offer flexibility in manufacturing complex and customized designs. Transparent plastics are durable, lightweight and easily recyclable.

· Weakness: Transparent plastics have lower impact strength compared to traditional materials like glass. Their transparency reduces with exposure to heat or UV light over prolonged usage. Production of certain transparent plastics requires use of hazardous chemicals.

· Opportunity: Growing construction and automotive industries are driving the demand for transparent plastics in glazing and lighting applications. Adoption of transparent plastics in solar energy generation and emerging technologies like OLED displays present new opportunities.

· Threats: Stringent environmental regulations around plastic waste disposal and recycling pose challenges. Alternatives like bio-based and recyclable materials threaten market share of conventional transparent plastics. Volatility in raw material prices can increase production costs.

Key Takeaways:

The Global Transparent Plastics Market Growth is expected to witness high, exhibiting CAGR of 3.6% over the forecast period, due to increasing construction activities globally. Use of transparent plastics in construction has significantly grown owing to advantages like durability, workability and aesthetics.

Regional analysis:

The Asia Pacific region currently dominates the global transparent plastics market with over 35% share due to rapid infrastructure growth in countries like China and India. Europe is another major market led by developed economies like Germany, UK and Italy where transparent plastics have widespread applications in automotive and packaging industries.

Key players:

Key players operating in the transparent plastics market are Dow Inc., Covestro AG, Eastman Chemical Company, SABIC, Arkema S.A., Mitsubishi Chemical Corporation, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Teijin Limited, LG Chem Ltd.