Automotive Plastics Market to Witness Mounting Growth in Approaching Time [Business]
OCT 14,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Automotive Plastics Market.
Automotive Plastics Market is likely to witness a healthy CAGR of 10.5% during the forecast period. The growing demand for automotive plastics is majorly because of their lightweight property that significantly helps in weight reduction of vehicles and enables to achieve better fuel efficiency. This is a major key driver underpinning the growth of the market during the forecast period.
Automotive plastics are a group of materials used in the automobile industry which possess abrasion resistance, rigidity, mechanical strength, heat resistance, etc. In passenger cars, they are widely used because of their strength-to-weight ratio. They also provide the adequate strength at very less weight, which ultimately helps to gain better fuel efficiency.
Automotive plastics are of different types such as Polypropylene, Polyurethane, Polyvinyl chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT, and others. They are majorly used in applications such as interior, exterior, and under bonnet.
By Product Type
Based on the product type, the market is segmented as polypropylene, polyurethane, polyvinyl chloride, ABS, polyamide, HDPE, polycarbonate, PBT, and others. The polypropylene segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period, owing to its excellent mechanical properties such as design flexibility, lightweight, and its low cost. On the other hand, the polyamide segment is expected to grow at the fastest rate in the next five years.
By Application Type
Based on the application type, the automotive plastics market for passenger cars is segmented as interior, exterior, and under bonnet. The interior segment is estimated to be the largest segment of the market, owing to its ability to possess scratch resistance and offer aesthetics and good surface finish. Its use in various interior components, such as door panels & consoles, interior lighting, and instrument panels is driving the growth of the segment during the forecast period.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing automotive plastics market for passenger cars during the forecast period, with China, Thailand, and India being the major countries as the growth engines. The market is driven by the increasing per-capita income of individuals in the region, leading to rise in demand for passenger cars, which in turn, is driving the automotive plastics market for passenger cars in the Asia-Pacific region.
Key Players:
• Magna International Inc.
• Lear Corporation
• Adient PLC
• BASF SE
• Compagnie Plastic Omnium
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Automotive Plastics Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
You can mail our sales team at (sales@stratviewresearch.com) and get in touch with us on +1-313-307-4176 to share your research requirements.
About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
Automotive Plastics Market is likely to witness a healthy CAGR of 10.5% during the forecast period. The growing demand for automotive plastics is majorly because of their lightweight property that significantly helps in weight reduction of vehicles and enables to achieve better fuel efficiency. This is a major key driver underpinning the growth of the market during the forecast period.
Automotive plastics are a group of materials used in the automobile industry which possess abrasion resistance, rigidity, mechanical strength, heat resistance, etc. In passenger cars, they are widely used because of their strength-to-weight ratio. They also provide the adequate strength at very less weight, which ultimately helps to gain better fuel efficiency.
Automotive plastics are of different types such as Polypropylene, Polyurethane, Polyvinyl chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT, and others. They are majorly used in applications such as interior, exterior, and under bonnet.
By Product Type
Based on the product type, the market is segmented as polypropylene, polyurethane, polyvinyl chloride, ABS, polyamide, HDPE, polycarbonate, PBT, and others. The polypropylene segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period, owing to its excellent mechanical properties such as design flexibility, lightweight, and its low cost. On the other hand, the polyamide segment is expected to grow at the fastest rate in the next five years.
By Application Type
Based on the application type, the automotive plastics market for passenger cars is segmented as interior, exterior, and under bonnet. The interior segment is estimated to be the largest segment of the market, owing to its ability to possess scratch resistance and offer aesthetics and good surface finish. Its use in various interior components, such as door panels & consoles, interior lighting, and instrument panels is driving the growth of the segment during the forecast period.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing automotive plastics market for passenger cars during the forecast period, with China, Thailand, and India being the major countries as the growth engines. The market is driven by the increasing per-capita income of individuals in the region, leading to rise in demand for passenger cars, which in turn, is driving the automotive plastics market for passenger cars in the Asia-Pacific region.
Key Players:
• Magna International Inc.
• Lear Corporation
• Adient PLC
• BASF SE
• Compagnie Plastic Omnium
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Automotive Plastics Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
You can mail our sales team at (sales@stratviewresearch.com) and get in touch with us on +1-313-307-4176 to share your research requirements.
About Us: Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. Our team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.
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