April 14, 2024
Transparent Plastics Market

The Increasing Usage Of Transparent Plastics Market Is Driven By Construction Industry

Transparent plastics find wide applications in the construction industry for manufacturing windows, doors, greenhouses, and other architectural components. Transparent plastics such as polycarbonate, acrylic and PETG provide various advantages over traditional glass materials such as lightweight, shatterproof, durable and thermally efficient properties. With the growing construction of commercial buildings and infrastructure projects globally, the demand for such versatile and high-performance building materials is increasing substantially. The global Transparent Plastics Market is estimated to be valued at US$ 192.5 Bn in 2024 and is expected to exhibit a CAGR of 10. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the key trends in the transparent plastics market is the rising adoption of PMMA (Polymethyl methacrylate). PMMA has superior properties compared to regular float glass and is emerging as a preferred replacement for glass in various applications such as bus shelters, signage, construction, and automotive glazing. It provides advantages such as lightweight, high optical clarity, shatter resistance, workability, easy fabrication and is cost-effective as well. With PMMA finding increasing applications in construction as well as consumer goods industries, its demand is expected to grow significantly over the forecast period. Another trend gaining traction is the growing acceptance of bio-based and biodegradable polymers for food packaging and other consumer applications due to stringent regulations regarding usage of conventional plastics.

Porter’s Analysis

Threat of new entrants: The transparent plastics market requires high initial investments for infrastructure, R&D and branding. Therefore, the threat of new entrants is moderate.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can switch to alternatives such as glass easily.
Bargaining power of suppliers: Major players dominate the supply market for raw materials. Therefore the bargaining power of suppliers is high.
Threat of new substitutes: Glass and new emerging materials pose a moderate threat as substitutes.
Competitive rivalry: Being a highly fragmented market, competitive rivalry is intense among key players to gain market share.

Key Takeaways

The global Transparent Plastics Market Growth is expected to witness high growth.

Regional analysis: The Asia Pacific region dominates the transparent plastics market and is expected to grow at a high CAGR during the forecast period. Countries such as China, India, and Japan are major markets in this region.

Key players operating in the transparent plastics market are DigiLens Inc, Corning Incorporated, OPPO, Meta, AGC INC., and CORNING INCORPORATED. DigiLens Inc offers transparent lightweight display technology for AR devices. Corning Incorporated is a major manufacturer of specialty glass, ceramics, and optical fiber. OPPO develops transparent OLED displays for smartphones. Meta focuses on developing AR displays, optics, and wearable devices. AGC Inc manufactures float glass, automotive glass, display glass and optical glass. CORNING INCORPORATED provides specialty glass and ceramics for various industries including consumer electronics.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it