Press release
Automotive Plastic Compounding Market, By Product Type (Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP)to grow at a compound annual growth rate of 5.62%
Automotive plastic compounding market size is expected to grow at a compound annual growth rate of 5.62% for the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive plastic compounding market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market's growth.Plastic compounding is a way of altering the properties of basic plastics and thermoplastics by using a mixture of plastics and additives. They have advanced physical properties such as flame retardancy, wide range of conductivity, wear resistance and lightweight. These characteristics have improved their demand in the automotive industry.
View Detailed Report: https://www.databridgemarketresearch.com/reports/global-automotive-plastic-compounding-market
The rise in the plastics demand in construction, automotive and electrical and electronics is expected to influence the growth of the automotive plastic compounding market. In line with this, the rapid increase in product applications in automotive sector and rise in the income level are also anticipated to act as key determinants favoring the growth of the automotive plastic compounding market over the forecast period of 2021 to 2028. Also the, high demand for lightweight vehicles and thriving automotive industries are also expected to positively impact the growth of the automotive plastic compounding market. The major factor accountable for the growth of the market is the rapid industrialization.
However, the high cost in the price of the raw materials and various environmental regulations associated with the plastic recycling are likely to act as key restraints towards automotive plastic compounding market growth rate in the forecast period of 2021 to 2028, whereas the Fluctuation in the price of crude oil and petrochemical can challenge the growth of the automotive plastic compounding market in the above mentioned forecast period.
Furthermore, the high demand for plastics in automotive sectors, high demand for plastic materials in interior designing and increase in the investment in transport are expected to offer a variety of growth opportunities for the automotive plastic compounding market in the above mentioned forecast period.
Key Players Analysis:
The major players covered in the automotive plastic compounding market report are BASF SE, Dow, SABIC, LyondellBasell Industries Holdings B.V., DuPont, KRATON CORPORATION, 3M, Covestro AG, Solvay, LANXESS, RTP Company, Asahi Kasei Corporation, Aurora Plastics LLC, Ferro Corporation, Washington Penn, Eurostar Engineering Plastics, Kuraray Europe GmbH, Ravago Manufacturing India Pvt. Ltd., TEIJIN LIMITED, and Chevron Phillips Chemical Company LLC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Automotive Plastic Compounding Market Scope and Market Size
Automotive plastic compounding market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
On the basis of product type, the automotive plastic compounding market is segmented into acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), polyethylene (PE) and others.
The application segment for automotive plastic compounding market is segmented into instrument panels, powertrain, door systems, interior components, exterior fascia, under the hood components and others.
Automotive Plastic Compounding Market Country Level Analysis
Automotive plastic compounding market is analyzed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the automotive plastic compounding market because of the emergence of plastic manufacturers and economic environment along with the rise in the manufacturing sector. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the high demand for the automobile and high demand for the lightweight vehicles.
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