Press release
What’s driving the Automotive Plastics Market Trends? Lear Corporation, Evonik, SABIC, Solvay, DSM, Adient, The Dow Chemical Company, Delphi
Automotive Plastics Market
Stringent government standards and rules by CAFÉ regarding CO2 emission and fuel economy has resulted in OEMs to search for other methods to reduce vehicular weight to improve fuel efficiency.
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Automotive Plastics Market size is set to surpass USD 50 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising passenger cars production along with consumer demand for fuel efficient, durable and light weight vehicles should stimulate automotive plastics industry demand. Rapid industrialization and urbanization in India, Japan, and China will propel the demand for commercial vehicles, SUV’s, modern cars and HMV’s. Rising per capita income and improving living standards will create demand for stylish and high aesthetics cars thereby stimulating industry growth.
Automotive plastics are preferably used in various auto bodies and parts including chassis, power train, electronic components under the hood, exterior and interior furnishings and fuel systems. It is durable, scratch resistant, abrasion resistance, allows effective design molding, component integration and improves vibration and noise control in automobiles. Expanding manufacturing hubs along with government spending for advanced technology may contributes towards automotive plastics industry growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ArcelorMittal S.A.
2. Shagang Group Company Limited
3. Hesteel Group Company Limited
4. Nippon Steel & Sumitomo Metal Corporation
5. POSCO
6. VISA Steel
7. Steel Authority of India Limited
8. Anyang Iron & Steel Group Co., Ltd.
9. Baosteel Company
10. Tata Steel
11. China Steel Corporation
12. Novolipetsk Steel
13. Evraz Group
14. Hyundai Steel Co., Ltd. (HSC)
15. Wuhan Iron & Steel (Group) Corp.
16. Shaaban Group
17. Gerdau Steel India Pvt. Ltd.
18. Steel Limited
19. Maanshan Iron and Steel Company
20. Nucor Corporation
21. Nanjing Iron & Steel United Co., Ltd.
22. Erdemir Group
23. Hunan Valin Iron & Steel Group Co., Ltd.
24. HBIS Group Co. ltd
25. JFE Steel Corporation
26. Voestalpine AG
27. Severstal
28. SSAB AB
29. Liberty OneSteel Manufacturing
30. Gunung Steel Group
31. Jindal Steel and Power Ltd.
32. Salzgitter AG
33. Stahlwerk Thuringen GmbH
34. AFV Acciaierie Beltrame SpA
35. Duferdofin-Nucor Srl
36. Riva Fire SpA
37. Celsa Cia Espanola de Laminacion SL
38. British Steel
39. POSCO SS Vina
40. AK Steel Holding Corporation
Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/automotive-plastics-market
Germany automotive plastics market demand is likely to register gains close to 8.5% during the forecast timeframe. Growth in automobile industry and presence of major industry giants along with high innovations and strategies will enhance product demand in the region. Increasing pressure on automobile manufacturers to reduce GHG emission to comply with EU standards coupled with high investments in research will drive regional industry growth.
PVC based automotive plastics market demand is likely to surpass USD 1.9 billion during the foreseeable timeframe. These are mainly used in underbody coatings, sealants, door panels seating, dashboard, arm rest, window sealing profiles, weather strips, and body side protection. Increasing environmental concerns regarding carbon emission coupled with rising consumer awareness regarding safety and reducing accidental injuries may act as a contributing factor for industry growth.
UK automotive plastics market demand from polypropylene (PP) may register substantial growth at about 9% during the projected period. The product has wide usage in cable insulation, petrol cans, indoor & outdoor carpets, battery box, and bumpers. PP is about 15% to 20% lighter than other materials which is beneficial in automobile weight, thereby resulting in less CO2 emission and low fuel consumption.
- Automotive Plastics Market, By Application
• Power Train
• Electrical Components
• Interior and Exterior Furnishings
• Under the hood
• Chassis
• Others
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BASF, Delphi, Celanese, DSM, Evonik, SABIC, RTP, Lear Corporation, Borealis AG, Adient and Covestro are the prominent industry participants in the automotive plastics market. Companies are focusing towards investing in R&D activities to comply with government standards and enhancing their product portfolio by forming joint ventures and partnerships.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/
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