Global automotive plastics market report gives comprehensive outlook on automotive plastics across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of by process, technologies, chemicals type, instrumentation type, equipment type, product category, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global automotive plastics market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global automotive plastics products.
Global Automotive Plastics Market Size:
The global automotive plastics market estimated to be valued US $ 29.22 Bn in 2019 and poised to grow at significant CAGR nearly 9.7% over 2020-2026. Due to the increase in the economic conditions rising in automobile user’s population across the globe. Additionally, replacing traditionally used materials with highly advanced plastics for automobile manufacturing to enhance the features such as less weight, more appeal and to increase the fuel efficiency. Moreover, technological advancement for new innovations and techniques for development of specialized materials for will boosts the growth of the market. However, high cost of raw materials, non-degradable nature and the concerns related with environmental pollution due to the toxicity released during the manufacturing process are the major factors that hinder the growth of the market.
Increasing Demand of Automobiles are fueling the Growth of the Automotive Plastics Market
Rising economic standards and changing in the lifestyle, increasing in the huge number of vehicle user. Key Manufacturers are concentrating to develop and manufacture high-performance automobile and components thus conventionally used materials such as metals, glass and ceramic are replaced with high standard plastics. These plastics have superior properties such as versatility, durability and flexibility have fostered innovations in terms of technologies and designs of the automobiles. Growing demand for various automobile furnishing product such as light panels & displays, steering wheels, fascia systems, and seat covers. Owing to ideal insulation properties & rising safety concerns also accelerate market growth. Additionally, they find extensive usage in interior automotive components such as headliners, load floors, rear package shelves and seat bases. Moreover, rising disposable income, technological advancement and rising demand will fuel trhe market growth during the forecast period.
Asia Pacific Accounts for Larger Market Revenue Share in Global Automotive Plastics Market
Asia Pacific accounted for larger revenue share in global automotive plastics market with considerable CAGR. The growth in this region, especially in emerging economies such as India and China can be attributed to rising in the usage automobiles due to increasing manufacturing industries. European market dominates by advanced innovations and renovations systems. In North America automotive plastics is largely driven by the urbanizations, and skilled manpower, increase in disposable incomes. European region is expected to dominate the market growth due to ecumenically developed countries such as Germany.
- AkzoNobel N.V.
- BASF SE
- Bayer MaterialScience AG
- Evonik Industries
- Grupo Antolin-Irausa S.A.
- Johnson Controls
- Lear Corporation
- Magna International Incorporated
- Momentive Performance Materials Inc.
- Owens Corning Corporation
- Royal DSM N.V.
- Teijin limited
- The Dow Chemical Company
Global automotive plastics market is surging owing to frequent acquisitions and launchings by the market players. In June 2018, Magna International Inc., acquired OLSA S.p.A. (Italy) this acquisition will help the company to enhance and boost its lighting business solutions worldwide.
Key Findings of the Report:
- Global automotive plastics market expanding at significant CAGR over 2020 to 2026 due to increasing demand of automobile and electric vehicles.
- Based on process, technologies, chemicals type, instrumentation type, equipment type, product category, application automotive plastics segment accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
- Acrylonitrile Butadiene Styrene (ABS)
- High-density polyethylene (HDPE )
- Low-density polyethylene (LDPE)
- Polybutylene terephthalate (PbT)
- Polymethyl Methacrylate (PMMA)
- Polyamide (PA)
- Polycarbonate (PC)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Others (PET, and ASA)
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electrical Components
- Interior Furnishings
- Exterior Furnishings
- Under The Hood Components
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA