Press release
New Report: Automotive Plastics Market | By Technology Advancements and Future Prospects 2020 to 2024- A. Schulman Inc., Arkema Group, Asahi Kasei Advance Corporation, BASF SE, Borealis AG, Braskem, Celanese Corporation
The automotive plastics market is expected to register a CAGR of over 10% during the forecast period, 2019 - 2024.- The increasing demand for lightweight and electric vehicles is expected to drive the demand for the market during the forecast period.
- The decline of automotive production in Canada is likely to hinder the markets growth.
- Technological development in electric vehicles is projected to act as an opportunity for the market in the future.
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The prominent players in the Automotive Plastics Market are:
Schulman Inc., Arkema Group, Asahi Kasei Advance Corporation, BASF SE, Borealis AG, Braskem, Celanese Corporation, Covestro AG, Daicel Polymer Ltd, DSM Engineering Plastics BV, DowDuPont, Evonik Industries AG, Exxon Mobil Corporation, FARPLAS, Grand Traverse Plastics Corp., Hanwha Azdel, LANXESS, Lear Corporation, LG Chem, Lumotech (Pty) Ltd, LyondellBasell Industries Holdings BV, 6.4.22 Magna International Inc., Momentive, Omni Plastics, Owens Corning, the Quadrant group of companies, SABIC, Seoyon E-Hwa, Solvay (incl. Cytec), Teijin Limited, Total (Polyblend), TOYOTA BOSHOKU CORPORATION, Trinseo SA, Zoltek Companies Inc. (Toray Industries Inc.)
Key Industry Trends-
Polypropylene to Dominate the Consumption
- The market for polypropylene (PP) is expected to grow at a rapid rate during the forecast period because of its characteristics of being extremely chemical resistant and completely impenetrable to water.
- The major parts in which polypropylene is used consists of seating, dashboard, fuel systems, panels, under-bonnet components, interior trim, electrical components, and many others.
- Continuous development of new PP types allows the replacement of steel in automotive in the near future as well, which will help in reducing the weight of the vehicle.
- The application areas of PP compounds have extended up to the present time due to improvements in the base PP, as well as the advanced compound technology and molding technology.
- The growing demand for automobiles around the globe has increased the consumption of polypropylene in automotive plastics.
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Asia-Pacific to Lead the Automotive Plastics Market
- Asia-Pacific dominated the automotive plastics market due to the huge production of vehicles.
- The improvement in the financial status of the consumers, owing to the consistent economic development in country, has increased the disposable income of the consumers, which, in turn, has resulted in the increased vehicle purchases.
- This has resulted in the augmented growth of the automotive industry, in turn boosting the automotive plastics market.
- For instance, China alone produced more than 25 million units of vehicles in 2018. India also witnessed a significant y-o-y growth of more than 8.19% in vehicle production in 2018. Moreover, the automotive industry in the Southeast Asian region is also witnessing growth.
- These factors are likely to boost the automotive plastic consumption in the Asia-Pacific region.
Major points covered in this research are:-
Automotive Plastics Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2024), Competition by Manufacturers
Global Market Size (Value) of Automotive Plastics (2019-2024)
Global Automotive Plastics Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
Global Automotive Plastics Production, Revenue (Value), Price Trend by Type
Global Automotive Plastics Market Analysis by Application
Global Automotive Plastics Manufacturers Profiles/Analysis
Automotive Plastics Manufacturing Cost Analysis
Industrial Chain, Sourcing Strategy and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders
Market Effect Factors Analysis
Global Automotive Plastics Market Forecast (2019-2024)
Competitive Landscape
Research Findings and Conclusion
Finally, this Automotive Plastics report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Automotive Plastics product development and gives an outline of the potential Global market.
Contact US:
Irfan Tamboli (Sales)
Phone: + 1704 266 3234
Mob: +91-750-707-8687
sales@marketinsightsreports.com
irfan@marketinsightsreports.com
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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