The Transparent Plastics Market is projected to grow from USD 96.31 Billion in 2016 to USD 137.75 Billion by 2022 at a CAGR of 6.2% from 2017 to 2022, as per a report by MarketsandMarkets.
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Browse 187 market data Tables and 66 Figures spread through 230 Pages and in-depth TOC on “Transparent Plastics Market”
Why development of bio-based transparent plastics is a good potential opportunity?
Currently, transparent bioplastics are being developed; however, the high-cost and reduced physical properties continue to be a restraint. The most promising developments are in creating commodity resins (PET, PS, and PVC) from bio-based sources.
The demand for biodegradable plastics is rising exponentially. Transparent biodegradable plastics which can directly go to landfill are expected to drive the market in future. Food & beverage packaging is one of the major markets which is expected to offer huge opportunities for bio-based plastics. Significant misinformation and scare tactics are being used to push the anti-plastic agenda. This cripples the industry; however, the development of new materials is estimated to lower the impact of this misinformation and scare tactics in the long-term.
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Why fluctuating raw material prices is a major challenge?
Price and availability of raw materials are the major factors that affect the price of end products. Crude oil is among the major raw materials employed in the production of various plastic packaging materials such as polystyrene, polypropylene, PVC, and polycarbonate. The global plastics market, especially transparent plastics has witnessed oscillating price trends of raw materials in recent years, which are fluctuating due to volatile energy prices. Transparent plastics manufacturers are affected by price-sensitive customers. Most raw materials are petroleum-based and are vulnerable to fluctuations in the commodity prices. Oil prices have been highly volatile in the recent times. This is a major challenge for the plastic industry to predict the future price, thus resulting in low investments in transparent plastics-related projects.
Top 10 Plastics Market by Type (Polyethylene, Polypropylene, Expanded Polystyrene, Polyethylene Terephthalate, Polyvinyl Chloride), Application (Automotive, Building & Construction, Packaging, Electronics & Consumer, Textile) – Global Forecast to 2021
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