Acrylic Container Market Analysis, Segments, Growth and Value Chain 2019-2029
Monday, June 03, 2019
Press release from the issuing company
Acrylic Container Market: Introduction and Need of the Product
Acrylic material is widely used as an alternative product to glass because of its lightweight and impact-resistant properties. Acrylic is half the weight of glass material and could resist a temperature range of -10 degree centigrade to 55 degree centigrade. However, it requires special attention to manufacture products made up of acrylic material. Acrylic material could be used to pack a variety of products in different end-use industries such as cosmetics, personal care, automotive, jewelry packaging, confectionary, food & beverages, etc. The acrylic material could also be used to replace glass container or storage solutions in the building & construction industry. It is increasingly gaining preference over glass packaging products. Manufacturers are focusing to develop products that fulfill consumer requirements and increase their profitability margins. With the rise in consumption of variety of products in different end-use industries such as chemical, healthcare, automotive, food & beverages, aerospace, defense, among others, the demand for efficient packaging solutions will also increase. The Acrylic Container is a special type of container which is used to pack different types of products. Acrylic Containers are generally used to store cosmetics & personal care and homecare products. And it could be manufactured according to the requirements of the end users. Thermoforming and injection molding are the two major types of process to manufacture Acrylic Containers.
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Acrylic Container Market: Market Dynamics
Acrylic container market is gaining strong traction in the global market due to increasing preference of this material over traditional glass material. Also, the material offer good transparency and possess strong impact resistance which makes it an ideal product to pack a variety of products in different end-use industries. It is noticed that acrylic containers are replacing glass container for the secondary packaging gift products across the world. Also, with the increase in income levels of middle-class households, the consumption of fashion accessories is also increasing at a significant pace which in turn require less-fragile packaging solutions i.e. acrylic containers. Some of the restraint present in the market is the threat of other substitute product that might come-up in the market with high quality and cheaper cost. The major trend witnessed in the global acrylic container market is the development of new and customized type of acrylic container for new application areas to stand out from the competition. It should be noted that there are significant growth opportunities for the new entrants as well as existing manufacturers to good capture market share and establish leading presence in the global acrylic container market.
Acrylic Container Market: Market Segmentation:
Acrylic Container Market Segmentation: By Material Type
· High-Density Polyethylene
· Other plastics
Acrylic Container Market Segmentation: By Packaging Application
· Food & Beverages
· Cosmetics & Personal Care
· Home Care
· Automotive and Allied Industries
· Other Industries
Acrylic Container Market: Regional Overview
On the basis of region, the Acrylic Container market is segmented as North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa, and Japan. The North America followed by Europe dominates the global acrylic container market due to well-established trend of gifting. Also, the market for acrylic container in both of these regions is evolving and end-user companies are preferring acrylic containers over glass containers due to their outperforming characteristics. In Europe, Germany and U.K. are the largest consumer of the acrylic container accounting for a market share of approximately 28% and 14% respectively. The acrylic container market in Asia-pacific region is expected to grow at a good CAGR value and is expected to dominate the global market in next decade. In Asia-Pacific region, China accounts for largest market share throughout the forecast period due to high volume production of products which require acrylic container packaging. In MEA region, Saudi Arabia and UAE dominates the market with a combined market share of more than 50% in the acrylic container market. Japan also offer untapped growth opportunities in the global acrylic container market.
Acrylic Container Market: Market Players
Some of the key players in the Acrylic Container market are Akrylix USA, Liberty Industries Inc., Pioneer Plastics, Inc., Cleatech LLC, Shenzhen Jing Yue Acrylic Products Manufacturing Co., Ltd., and Sunday Knight Co.,Ltd.
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