Automotive Plastics Market for Passenger Cars worth $51.6 billion by 2027

According to recent market research "Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region - Global Forecast to 2027", is to grow from USD 28.2 billion in 2018 to USD 51.6 billion by 2027

Browse 103 market data Tables and 38 Figures spread through 136 Pages and in-depth TOC on "Automotive Plastics Market for Passenger Cars - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automotive-plastics-market-passenger-cars-506.html

Owing to stringent regulations regarding carbon emissions and price-sensitive demand, automotive manufacturers prefer automotive plastics in their designs, thus driving the growth of the automotive plastics for passenger cars across regions. Introduction of new safety features and luxury components is also expected to drive the demand for automotive plastics in passenger cars.

The polyamide type segment is projected to grow at the highest CAGR during the forecast period, in terms of value.

By type, the polyamide segment of the automotive plastics market for passenger cars is projected to grow at the highest during the forecast period, in terms of value. Polyamide is commonly known as nylon and finds major usage in automotive components due to its excellent mechanical properties and flexibility. Polyamides are increasingly being used in combination with other thermoplastics, such as polyphenylene ether (PPE), to enhance the performance of automotive plastics, resulting in their increasing demand.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=506

The under bonnet application segment is projected to grow at the highest CAGR during the forecast period, in terms of value.

By application, the under-bonnet segment is projected to grow at the highest CAGR during the forecast period, in terms of value. The demand for automotive plastics for use in the under bonnet of passenger cars is expected to increase owing to the replacement of conventional materials used in under bonnet components with plastics and composites. Additionally, the high insulating properties of plastics provide huge opportunities for the advancement of under bonnet applications.
Asia Pacific is estimated to account for the largest share of the automotive plastics market for passenger cars during the forecast period, in terms of value.

The automotive plastics market for passenger cars has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is estimated to account for the largest share of the automotive plastics market for passenger cars and is also projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of the Asia Pacific automotive plastics market for passenger cars can be attributed to the increasing demand for plastic materials for passenger vehicles from various countries of the region, such as China, India, and Thailand. There has been an increasing demand for lightweight automotive components from Asia Pacific countries, which, in turn, will lead to the growth of the Asia Pacific automotive plastics market for passenger cars.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=506

Key players operating in the automotive plastics market for passenger cars include Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), Compagnie Plastic Omnium (France), Borealis AG (Austria), Covestro AG (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), and Grupo Antolin-Irausa S.A. (Spain).

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/automotive-plastics.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/automotive-plastics-market-passenger-cars.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.