Press release
Automotive Plastic Market Global Analysis and Size Forecast by Top Leaders - BASF SE, Akzo Nobel, Evonik Industries, Saudi Basic Industries, DSM Company, Teijin, The Dow Chemical, E. I. Du Pont De Nemours, LyondellBasell, Quadrant group of companies
Global Automotive Plastic Market is expected to grow at 12.6% CAGR During 2016-2023
Market Research Future (MRFR) reports that the Global Automotive Plastic Market is projected to accrue substantial revenue worth USD 56.38 BN at 12.6% CAGR during the forecast period (2016-2023). For obvious reasons, the Automotive Plastic Market is proportional to the automotive industry. A massive expansion in the automotive sector has been observed in the past decade which has led to a huge need for plastic in automotive sector as well. Plastics elements like polycarbonates, polyesters, polypropylene, polyurethanes, and polyamides are used in various parts of a vehicle, as they contribute to more energy efficiency, weight reduction, corrosion resistance, design flexibility, durability, along with optimum performance at lower costs. Superior properties such as these foster technological innovations as well as design freedom. Streamlined mass production leads to provision of technologically sophisticated and cost-efficient products with high sustainability. Thus, the shift in focus towards high performance plastics in place of conventional metals and rubber will bolster the global market size eminently. Furthermore, rigid government policies across the globe compelling automobile manufacturers to seek alternative methods of weight reduction to improve efficiency also fuel the market growth.
Try Sample Report @ https://www.marketresearchfuture.com/sample_request/2954
Consolidation can be expected in the form of fluctuating raw material cost negatively affecting the market growth. However the future of the Global Automotive Plastics Market is promising on account of opportunities in the passenger cars, light commercial vehicles, and heavy commercial vehicles.
Not only this, emerging trends are also making their way into the market that will further impact the dynamic of the Automotive Plastics Industry, that include development of recycling technologies for plastics along with replacement of PA 66 with cheaper and advanced PA 6.
Key Players
Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), Lyondell Basell Industries N.V. (US), Evonik Industries (Europe), Quadrant group of companies (Japan), and others are some of the key players in the Global Automotive Plastic Market.
Industry News
Volvo has set a goal of using at least 25 percent recycled plastics in new Volvo car models from 2025 as a part of an anti-pollution plan. Recycled plastics such as from fishing nets or old bottles in car dashboards which would not affect safety or quality, will be used. Volvo is an established company in the automotive market, aiming to be more eco-friendly by implementing this plan during the production of its cars.
Market Segmentation
MRFR reports that the Global Automotive Plastic Market is segmented based on Types, Application and Region.
By Types, the Automotive Plastic Market has been segmented on the basis of polypropylene, polyurethane, acrylonitrile-butadiene-styrene, polyamide, polymethyl methacrylate, polycarbonate, and others (polyvinyl chloride, polyethylene). Growth of polypropylene market is results from high production of niche cars such as multipurpose vehicles and small city cars due to growing economy.
By Application, the market has been segmented on the basis of interiors body, under bonnet, exterior body, and electrical components. High quality plastics are used for interiors of a vehicle in steering wheels, air ducts, auto upholstery and many other interior components. They add comfort, reduce noise level, and improve the aesthetic appeal of the vehicle, leading to massive product sale.
Regional Analysis
The Global Automotive Plastic Market is regionally spread across North America, Europe, APAC, Latin America, and Middle East & Africa.
On all accounts, the Asia Pacific region is by far the biggest market for Automotive Plastic Market. The flourishing market in the region can be attributed to the high production of automotive in countries like China followed by India and Japan. Growing economy, rapid industrialization, steadily increasing population and expanding automotive industry drives the market growth considerably.
On the other hand, Europe rests at the second position with the largest market after Asia Pacific. The automotive industry in Europe is thriving and enjoys a wide customer base due to its heavy demand. Therefore, the presence of well established automotive industry along with formidable companies manufacturing automotives drive the demand for high production of Automotive Plastic in the region.
North America, across all regions, is well positioned on the third spot with the third largest market for Automotive Plastic. Strong economy and high disposable income in turn have led to increased vehicle purchases. Moreover, increasing application in fuel systems, electrical components, and upholstery and body panels resulting in passenger safety and convenience and also minimizing manufacturing costs stimulates market growth in the region.
Also, Latin America and Middle East have exhibited steady growth in the Automotive Plastic Market. Booming manufacturing base and growing investments in advanced technologies for vehicular production are set to bring about a new era of automobiles, positively impacting the market in the region. Furthermore, government aide and policies supporting the environment will also boost the market growth.
Get Complete Report @ https://www.marketresearchfuture.com/reports/automotive-plastic-market-2954
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Plastic Market Global Analysis and Size Forecast by Top Leaders - BASF SE, Akzo Nobel, Evonik Industries, Saudi Basic Industries, DSM Company, Teijin, The Dow Chemical, E. I. Du Pont De Nemours, LyondellBasell, Quadrant group of companies here
News-ID: 1339193 • Views: …
More Releases from Market Research Future
9-Decanoic Acid Methyl Ester Market Poised for Strong 6.59% CAGR Growth Through …
The 9-decanoic acid methyl ester market is a growing sector driven by the increasing demand for bio-based and sustainable chemical products across various industries. With its unique properties, it finds application in flavors and fragrances, pharmaceuticals, personal care, and as a chemical intermediate. The market is projected to expand significantly in the coming years.
Market Overview and Size
The global 9-decanoic acid methyl ester market was valued at USD 230.0 million in…
Washable Marker Market Poised for 3.54% CAGR Growth During 2024-2032
The washable marker market is a dynamic and growing segment within the broader stationery and art supplies industry. Driven by a blend of consumer demands for safety, convenience, and sustainability, the market is experiencing consistent expansion, particularly within the education and home-use sectors. While faced with some challenges, the industry's future looks promising, propelled by product innovation and evolving consumer trends.
Get Sample @ https://www.marketresearchfuture.com/sample_request/41217
Market Size and Growth
The global washable…
Phone Car Mounts Market to Reach USD 7.37 Billion by 2034, Growing at 6.47% CAGR
The phone car mounts market, a critical sub-segment of the broader automotive accessories industry, is experiencing robust growth driven by a convergence of technological advancements, evolving consumer behavior, and increasingly stringent road safety regulations. As smartphones become indispensable for navigation, communication, and in-car entertainment, the demand for secure and convenient hands-free solutions continues to escalate. The global phone car mounts market was valued at USD 3.93 billion in 2024 and…
Intravenous (IV) Solution Market Set to Grow to USD 26.60 Billion at 7.70% CAGR …
Market Overview:
The Intravenous (IV) Solution Market is estimated to be valued at USD 13.9 billion in 2023 and is projected to reach USD 26.60 billion by 2032, expanding at a compound annual growth rate (CAGR) of 7.70% from 2024 to 2031. The market growth is attributed to the rising prevalence of chronic diseases, growing hospitalization rates, and increasing surgical procedures that require IV fluid administration. Intravenous solutions are critical…
More Releases for Plastic
Plastic bottles at events - Better party with plastic
Partying, dancing, camping - festivals attract hundreds of thousands of visitors every year in Germany alone. One challenge: supply and safety. For this reason, drinks in glass bottles are banned at most events due to the risk of injury. Lightweight and unbreakable plastic bottles, on the other hand, are considered a safe and practical alternative. Not only that: they can even be used to make a musical instrument.
Festivals or pageants…
Plastic Pallet With Plastic Crate Use: Efficient Material Handling
When it comes to efficient moving and storage of goods, a combination of plastic pallets [https://www.agriculture-solution.com/plastic-pallet/]and plastic crates is a popular choice. They are widely used in various industries such as manufacturing, retail, agriculture, etc. for storage and transportation of goods. Plastic pallets are designed to provide a stable base for stacking and shipping goods, while plastic crates provide safe and protective containers for stored or transported items. Plastic pallets…
Plastic Granules Market to Witness Massive Growth by Balaji Plastic, Navkar Indu …
The Worldwide Plastic Granules Market has witnessed continuous growth in the past few years and is projected to grow at a good pace during the forecast period of 2023-2029. The exploration provides a 360° view and insights, highlighting major outcomes of Worldwide Plastic Granules industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improve profitability. Additionally, the study helps venture or emerging…
Insights on the Growth of Plastic Granules Market 2018 to 2025 | Profiling Key C …
UpMarketResearch offers a Latest report on “Plastic Granules Market Analysis & Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 114 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.
Request Sample Copy of This Report@ https://www.upmarketresearch.com/home/requested_sample/49052
Plastic Granules research report delivers a close watch on leading competitors with strategic…
Agriculture Film Market SWOT Analysis of Leading Key Players Shandong Tianhe Pla …
HTF MI recently introduced Global Agriculture Film Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are British Polythene Industries (BPI), Trioplast, Berry Plastics, Armando Alvarez, Polypak, Barbier…
Building Materials Market 218 : Hepworth, National Plastic Industry, Hira Indust …
Building materials in this report covered the PVC pipes and fittings, PPR pipes and fittings, PE pipes and fittings, fabrication, ducts systems for infrastructure, valves and pumps and electrical conduits PVC systems.
At present, Hepworth, National Plastic Industry, Hira Industries, Florance Plastic Industries, Polyfab Plastic Industry, MPI, Union Pipes Industry, ANABEEB, Borouge and ACO Group are the UAE leading suppliers of the building materials, and top ten of them shared about…
