Global Automotive Plastics Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
MarketResearch.biz delivers in-depth insights on the global automotive plastics market in its upcoming report titled, “Global Automotive Plastics Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global automotive plastics market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The automotive Plastics market report has been segmented on the basis of product, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Automotive plastics are used to manufacture outside or exterior components of automotive to improving the performance of a vehicle. The lightweight of plastics makes vehicles more fuel efficient. It is estimated that every 10% reduction in vehicle weight results in a 5% to 7% reduction in fuel usage. Economic and environmental concerns make the creation of more fuel-efficient cars a top priority.
On the basis of product, polypropylene segment is estimated to hold major revenue share in the global automotive plastics market and is expected to maintain its dominance over the forecast period. Electrical and chemical resistance properties of polypropylene are expected to be major factors driving the market growth. Moreover, polypropylene is lightweight as compared to other materials and widely used as noise & vibration dampeners and thermal insulator in vehicular components.
On the basis of application, interior furnishings segment is estimated to hold major revenue share in the global automotive plastics market on account of growing production for seat covers, light displays, panels, and steering wheels which are expected to boost the segment growth over the forecast period. Components of automobiles namely headliners, load floors, seat bases, and package shelves are manufactured from high-performance plastics instead of metals and rubber.
Asia Pacific market is estimated to hold major revenue share in the global automotive plastics market, in 2017 and is expected to maintain its dominance over the forecast period. Growing production of automobiles in China, India, and Indonesia coupled with Increasing purchase power of people are expected to be major factors driving market growth in the region. Asia Pacific accounts for largest revenue share contribution of the target market, followed by markets in Europe, North America, Latin America, and the Middle East & Africa respectively. Technological advancements in vehicle production is expected to propel market growth over the forecast period. Moreover, growing demand for passenger cars and light commercial fuel-efficient vehicles in the region is expected to fuel exterior material market.
Market segmentation and key players operating in the global automotive plastics market:
- Polyurethanes (PU)
- Polypropylene (PP)
- Acrylonitrile-Butadiene-Styrene (ABS)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Others (Poly Methyl methacrylate (PMMA), Polyamide (PA), High Density Polyethylene (HDPE), and Polyethylene Terephthalate (PET))
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Others (chassis and hood)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- AkzoNobel N.V.
- Evonik Industries AG
- Bayer MaterialScience AG
- Momentive Performance Materials Inc.
- Magna International Incorporated
- Johnson Controls
- Saudi Basic Industries Corporation (SABIC)
- Borealis AG
- Hanwha Azdel Inc.
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