Wellesley, Mass., June 19, 2017 (GLOBE NEWSWIRE) --
A steady increase in plastics consumption and overall economic activity is delivering global recovery from a slowdown in sales of transparent plastics. Declining CD and DVD production, and packaging, led producers to find new markets in electronics, automotive and medical devices. Those users are underpinning the industry, finds a new BCC Research study. The report updates a 2015 review of the global market for 10 billion pounds of plastics, estimated to rise to 14 billion pounds by 2022, according to Rigid Transparent Plastics.
Corporations including PPG Industries, Covestro, BASF, Eastman Chemical and Mitsubishi Chemicals compete on products, ranging from injection molded, blow molded, extruded or thermoformed items. An expected CAGR over 5% in polycarbonates compares to 4% growth in acrylics and 5% in polystyrenes, the report found. Packaging for healthcare and food applications were not included in this study.
Research Highlights
- 77% of the industry production volume now goes to electronics and building construction.
- The North American market of 4.3 billion pounds produced in 2016 is forecast to increase to nearly 4.5 billion in 2017 and 5.6 billion by 2022.
"The shift to downloading and streaming entertainment and slowdown in optical data storage on CD and DVD played a significant role in interrupting this industry,” says Kevin Fitzgerald, editorial director at BCC Research. "However, new weight-saving needs are emerging. There are improvements in transparency and durability that are bringing new consumers and filling those gaps for clear, rigid plastics.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.