Automotive Plastics Market Size, Share and Forecast 2019-2026
The Global Automotive Plastics Market was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
(EMAILWIRE.COM, September 09, 2019 ) Market Overview
Automotive plastics are specially engineered materials possessing superior properties and broad range functionalities.
They possess essential properties like low weight, flexibility, enhanced mechanical strength, resilience, corrosion resistance, and appealing aesthetic looks.
They are widely used in the automotive segment in the manufacturing of small bearings, bumper seats, door panels, mirror housings, and wheel covers.
They are majorly preferred in the automotive segment owing to their potential in reducing the weight of the vehicle thereby contributing in reducing the overall carbon emissions of the vehicle.
Market Dynamics
Rising automotive sales, demand for fuel-efficient and lightweight cars, customers preferring improved aesthetics, abundant availability of raw material and stringent government regulations are the major factors boosting the global automotive plastics market.
Plastic pollution is a rising concern these days owing to the non-degradable and non-decomposable nature of plastics. According to the United Nations Environmental Organization, more than 300 million tons of plastic waste is produced annually, which is the same as the total weight of the entire human population. It is estimated that more than 8.3 billion tons of plastic has been produced since the early 1950s and only 9% of this has ever been recycled and the unrecycled plastic ending up either in a landfill or in the natural environment. Owing to these reasons, environmental policies concerning the non-degradable nature of plastics is a crucial factor impeding the growth of the global automotive plastics market.
Market Segmentation
The Global Automotive Plastics Market has been segmented by end-user application, product type, and geography.
Based on the product type, the market is segmented as Poly Propylene, Poly Vinyl Chloride (PVC), Poly Urethane (PU), Poly Amide (PA), Poly Carbonate (PC), Poly Methyl Methacrylate (PMMA), High-Density Poly Ethylene (HDPE) and others. Polypropylene is the dominant segment of the global automotive plastics market owing to its high resistance to chemical spillage and water penetration.
According to a research article published by Sumitomo Chemicals Japan, more than half of all the plastic components used in automotive applications are made of polypropylene. Polypropylene is used in the manufacturing of a variety of parts including bumpers, instrument panels, door trims, chemical tanks, cable insulation, gas cans, and carpet fibers.
Based on the application, the market is segmented as the interior, exterior, under the bonnet, instrument panel, electrical components, powertrains, chassis, and others. Plastics are widely used in improving the aesthetic performance of the vehicle owing to their scratch resistance properties. Automotive plastics are commonly used in the interiors of the car in the manufacturing of door panels, instrument panels, dashboard components, and other essential parts. Owing to these reasons, the interior segment is anticipated to dominate the global automotive plastics market in the future.
Geographical Analysis
The Global Automotive Plastics Market is segmented into
North America,
Europe,
Asia Pacific,
South America
Rest of the world.
Competitive trends
Some of the major players in this market incorporate competitive strategies like mergers and acquisitions to retain their market competitiveness. For instance, in January 2019, Evonik acquires a US-based start-up, Structured Polymers Inc, a technology startup for 3D printing materials and this acquisition will give Evonik an opportunity for Evonik to expand its portfolio of specialty polymers.
New product launches and expansion of facilities are some other vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate. For instance, in April 2018, Quadrant Engineering Plastic Products announced the launch of additional colors for its Ketron PEEK product portfolio. This extended color range is a market development for more design options offered to design engineers. Furthermore, Borealis AG is increasing its polypropylene capacity in Europe to strengthen its long-term commitment to meet the European customers needs for innovative polypropylene.
Report Scope
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The Global Automotive Plastics Market is segmented based on the type of the product as Poly Propylene, Poly Vinyl Chloride (PVC), Poly Urethane (PU), Poly Amide (PA), Poly Carbonate (PC), Poly Methyl Methacrylate (PMMA), High-Density Poly Ethylene (HDPE) and others.
Based on the application, the market is segmented as the interior, exterior, under the bonnet, instrument panel, electrical components, powertrains, chassis, and others. Based on the geography, the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the World (ROW).
View full sample report: https://www.datamintelligence.com/research-report/automotive-plastics-market
Download free sample: https://www.datamintelligence.com/download-sample/automotive-plastics-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Automotive plastics are specially engineered materials possessing superior properties and broad range functionalities.
They possess essential properties like low weight, flexibility, enhanced mechanical strength, resilience, corrosion resistance, and appealing aesthetic looks.
They are widely used in the automotive segment in the manufacturing of small bearings, bumper seats, door panels, mirror housings, and wheel covers.
They are majorly preferred in the automotive segment owing to their potential in reducing the weight of the vehicle thereby contributing in reducing the overall carbon emissions of the vehicle.
Market Dynamics
Rising automotive sales, demand for fuel-efficient and lightweight cars, customers preferring improved aesthetics, abundant availability of raw material and stringent government regulations are the major factors boosting the global automotive plastics market.
Plastic pollution is a rising concern these days owing to the non-degradable and non-decomposable nature of plastics. According to the United Nations Environmental Organization, more than 300 million tons of plastic waste is produced annually, which is the same as the total weight of the entire human population. It is estimated that more than 8.3 billion tons of plastic has been produced since the early 1950s and only 9% of this has ever been recycled and the unrecycled plastic ending up either in a landfill or in the natural environment. Owing to these reasons, environmental policies concerning the non-degradable nature of plastics is a crucial factor impeding the growth of the global automotive plastics market.
Market Segmentation
The Global Automotive Plastics Market has been segmented by end-user application, product type, and geography.
Based on the product type, the market is segmented as Poly Propylene, Poly Vinyl Chloride (PVC), Poly Urethane (PU), Poly Amide (PA), Poly Carbonate (PC), Poly Methyl Methacrylate (PMMA), High-Density Poly Ethylene (HDPE) and others. Polypropylene is the dominant segment of the global automotive plastics market owing to its high resistance to chemical spillage and water penetration.
According to a research article published by Sumitomo Chemicals Japan, more than half of all the plastic components used in automotive applications are made of polypropylene. Polypropylene is used in the manufacturing of a variety of parts including bumpers, instrument panels, door trims, chemical tanks, cable insulation, gas cans, and carpet fibers.
Based on the application, the market is segmented as the interior, exterior, under the bonnet, instrument panel, electrical components, powertrains, chassis, and others. Plastics are widely used in improving the aesthetic performance of the vehicle owing to their scratch resistance properties. Automotive plastics are commonly used in the interiors of the car in the manufacturing of door panels, instrument panels, dashboard components, and other essential parts. Owing to these reasons, the interior segment is anticipated to dominate the global automotive plastics market in the future.
Geographical Analysis
The Global Automotive Plastics Market is segmented into
North America,
Europe,
Asia Pacific,
South America
Rest of the world.
Competitive trends
Some of the major players in this market incorporate competitive strategies like mergers and acquisitions to retain their market competitiveness. For instance, in January 2019, Evonik acquires a US-based start-up, Structured Polymers Inc, a technology startup for 3D printing materials and this acquisition will give Evonik an opportunity for Evonik to expand its portfolio of specialty polymers.
New product launches and expansion of facilities are some other vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate. For instance, in April 2018, Quadrant Engineering Plastic Products announced the launch of additional colors for its Ketron PEEK product portfolio. This extended color range is a market development for more design options offered to design engineers. Furthermore, Borealis AG is increasing its polypropylene capacity in Europe to strengthen its long-term commitment to meet the European customers needs for innovative polypropylene.
Report Scope
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The Global Automotive Plastics Market is segmented based on the type of the product as Poly Propylene, Poly Vinyl Chloride (PVC), Poly Urethane (PU), Poly Amide (PA), Poly Carbonate (PC), Poly Methyl Methacrylate (PMMA), High-Density Poly Ethylene (HDPE) and others.
Based on the application, the market is segmented as the interior, exterior, under the bonnet, instrument panel, electrical components, powertrains, chassis, and others. Based on the geography, the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the World (ROW).
View full sample report: https://www.datamintelligence.com/research-report/automotive-plastics-market
Download free sample: https://www.datamintelligence.com/download-sample/automotive-plastics-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results