Market Analysis: Global Automotive Plastics Market
Global automotive plastics market is expected to register a healthy CAGR of 11.2% in the forecast period of 2020-2027. This report contains the data of base year 2019 and historic year of 2018. This rise in market value can be attributed to the technological advancements in the electric vehicles.
Market Definition: Global Automotive Plastics Market
The polymeric materials that have capability of being shaped or molded by applying high pressure and temperature are used to make parts of automobiles. The plastics have properties of low electrical conductivity, low density, high toughness and transparency. Various thermoplastics and thermosets are molded and remolded to be utilized in automotive industry. The commonly used materials include polypropylene and polyethylene.
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Market Drivers:
Rising automotive industry boosts the demand for plastic materials, which acts as a driver for the growth of the market
Plastics reduce the overall weight without affecting the safety or performance of the vehicle, which acts as a driver for the market
Growth of bio-based plastics products in the manufacturing of automobiles also acts as a market driver
Stringent regulations regarding price-sensitiveness and carbon emissions boosts the demand for automotive plastics, which acts as a driver in the growth of the market
Market Restraints:
Decline of automotive production in certain countries such as India, Russia, Morocco, and many others restricts the demand of automotive plastics
Less recyclability of certain types of plastic materials hampers the demand and thus affecting the growth of the market
Few plastic products are banned for usage this can be used only once, hinders the growth of the market
Segmentation: Global Automotive Plastics Market
By Product Type
Polypropylene
Polyurethane
Polyvinyl Chloride
Acrylonitrile-Butadiene-Styrene (ABS)
Polyamide
High-Density Polyethylene (HDPE)
Polycarbonate
Polybutylene Terephthalate (PBT)
Others
By Application
Powertrain
Electrical Components
Interior Furnishings
Under-The-Hood Components
Chassis
Others
By Geography
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North America
US
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa
Key Developments in the Market:
In January 2019, Revere Plastics Systems LLC announced to acquire certain assets and operations of Sur-Flo Plastics & Engineering Inc. The acquisition will help the company to increase its manufacturing footprint to five locations, and will also help the company to become leader in the plastic injection molding industry
In June 2018, Viking Plastics acquired Genesis Plastics and Engineering, LLC, a manufacturer of plastic interior parts of automobiles. The acquisition of new facility helped the company to expand its customer base and manufacturing capability of new tools in the market
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Competitive Analysis:
Global automotive plastics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive plastics for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global automotive plastics market are Magna International Inc., Lear Corporation, Adient plc, BASF SE, Borealis AG, Covestro AG, Evonik Industries AG, SABIC, Grupo Antolin, TOYOTA BOSHOKU CORPORATION, Faurecia, TOYODA GOSEI Co., Ltd., Sage Automotive Interiors, DSM, Dow, Momentive, TEIJIN LIMITED, Solvay, Akzo Nobel N.V., CNR Group, LLC, among others
Research Methodology: Global Automotive Plastics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
Global Automotive Plastics Market By Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, Acrylonitrile-Butadiene-Styrene (ABS), Polyamide, High-Density Polyethylene (HDPE), Polycarbonate, Polybutylene Terephthalate (PBT), Others), Application (Powertrain, Electrical Components, Interior Furnishings, Under-The-Hood Components, Chassis, Others), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2027
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