The global rigid transparent plastics market to grow at a CAGR of 5.96% during the period 2017-2021.
Global Rigid Transparent Plastics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is growing popularity of sustainable production methods. There is growing pressure on manufacturers to use sustainable production methods. Although most manufacturers are welcoming this, smaller manufacturers are finding it hard to keep up with the growing competition. With an increase in the focus on sustainability and favorable government regulations for green procurement practices, rigid transparent plastic manufacturers across the globe will experience challenges in the consumer goods and packaging sectors.
According to the report, one of the major drivers for this market is recyclability of plastics. The production of plastics has adverse effects on the environment. The waste generated in the form of discarded plastic products also has negative effects on the environment. Plastic waste management is a top priority as mass consumption of products with short lifespans is on the rise. In most of these products, plastics are used either for packaging or for other purposes.
Further, the report states that one of the major factors hindering the growth of this market is growing concerns regarding plastic disposal. Majority of the plastics are manufactured from oil and are non-biodegradable in nature. They do not decompose like organic waste and last for centuries in the soil. There is no natural process that can absorb non-biodegradable plastics back into the biological cycle.