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Automotive Plastics Market 2018-2024 | BASF, Delphi Automotive, Evonik, and Johnson Control
Automotive Plastics Market
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Automotive Plastics Market will exceed USD 50 Billion by 2024; according to a new research report. Growing consumer & manufacturer inclination towards lightweight automobiles, enhanced aesthetics coupled with increasing demand for commercial vehicles should drive automotive plastics market. Urge towards reducing harmful CO2 emissions coupled with stringent environment protection regulations has led to increasing focus on manufacturing fuel-efficient and low weight vehicles.
PU based automotive plastics market should register gains by over 10% during projected timeframe. These materials are widely used in manufacturing automotive components including foam seating, insulation panels, suspension bushings, potting component, plastic parts and elastomeric tires and wheels owing to its lightweight, durability, flexibility, recyclability, increase fuel economy, insulation, noise absorption and corrosion resistance.
Strong economic expansion along with consumer inclination to purchase high-end aesthetic vehicles should drive automotive plastics market. Key raw ingredients for automotive plastics are PVC, PU, PMMA, ABS, polyamide and polyethylene which are widely sourced and dependent on price trends for crude and resins. Volatile crude oil market along with stringent regulatory regimes by EPA regarding waste management might hamper industry growth.
PMMA based automotive plastics market should encompass USD 1 billion by 2024. This growth in product demand can be ascribed to its wide application scope in producing automobile components like interior and external panels, trims, molded parts and number plates. These materials emit inherent properties including impact resistance, UV & chemical resistance and longevity.
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Automotive plastics market from power train applications should register growth at about 10% by 2024. Lightweight plastic components are gaining strong popularity in manufacturing parts for engine, gears, driveshaft, bearings and transmission to stimulate power to engine. Strong emphasis by automobile manufacturers to minimalize powertrain weight should stimulate industry growth.
Germany automotive plastics market should surpass USD 4 billion by 2024 owing to stringent regulatory regimes regarding end-of-life vehicles along with reducing GHG emissions. Strong focus by OEM’s and automobile manufacturers on R&D spending strategizing low-cost production and increasing fuel efficiency should propel regional product demand.
Global automotive plastics market share is moderately fragmented with key industry participants including Adient PLC, BASF S.E., Borealis A.G, DSM., Evonik, LG Chem, RTP Co. and SABIC. Companies plan to expand their market share by adopting strategies like mergers & acquisition, partnerships, joint ventures. It also results in new product development and expanding distribution network in other regions.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Automotive plastics industry 3600 synopsis, 2017 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
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Chapter 3 Automotive Plastics Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.2.1 Collaboration/Partnership
3.3.2.2 Technology provider
3.3.2.3 Service Providers
3.4 Regulatory landscape
3.4.1 U.S.
3.4.2 Europe
3.4.3 China
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America: Increasing demand for lightweight automobiles to obtain better fuel efficiency
3.5.1.2 Improving vehicle aesthetics
3.5.1.3 Middle East: Abundant availability of raw materials
3.5.1.4 Asia Pacific: Increasing demand for passenger vehicles
3.5.1.5 Europe: Reduction in vehicles material cost
3.5.2 Industry pitfalls & challenges
3.5.2.1 Lack of standardization of plastic materials
3.5.2.2 Growing environmental concerns
3.6 Company market share analysis, 2016
3.6.1 Strategy dashboard
3.7 Growth potential analysis, 2016
3.7.1 Emerging business models
3.7.1.1 Product Launch
3.7.1.1 Acquisitions
3.7.1.1 Joint Ventures
3.8 Porter’s analysis
3.9 Raw material analysis
3.9.1 Polyurethane (PU)
3.9.2 Propylene/polypropylene
3.9.3 ABS
3.9.4 PMMA
3.10 PESTEL analysis
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