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Global Automotive Plastics Market Research By Key Players, Type And Application, Future Growth To 2027
Businesses can attain unparalleled and comprehensive insights along with the best acquaintance of the emerging market opportunities with this Global Automotive Plastics Market research report. By understanding client’s requirements precisely, this report brings together business and product information for the sustainable growth in the market. This report is structured with the meticulous efforts of innovative, enthusiastic, knowledgeable and experienced team of analysts, researchers, industry experts, and forecasters. Two of the major tools of market analysis employed are SWOT analysis and Porter’s Five Forces Analysis. The large scale Global Automotive Plastics Market report is generated with a nice combination of advanced industry insights, practical solutions, talent solutions and the use of latest technology which gives an excellent user experience.
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Market Definition: Global Automotive Plastics Market
The polymeric materials that have capability of being shaped or molded by applying high pressure and temperature are used to make parts of automobiles. The plastics have properties of low electrical conductivity, low density, high toughness and transparency. Various thermoplastics and thermosets are molded and remolded to be utilized in automotive industry. The commonly used materials include polypropylene and polyethylene.
Market Analysis: Global Automotive Plastics Market
Global automotive plastics market is expected to register a healthy CAGR of 11.2% in the forecast period of 2020-2027. This report contains the data of base year 2019 and historic year of 2018. This rise in market value can be attributed to the technological advancements in the electric vehicles.
Market Drivers:
Rising automotive industry boosts the demand for plastic materials, which acts as a driver for the growth of the market
Plastics reduce the overall weight without affecting the safety or performance of the vehicle, which acts as a driver for the market
Growth of bio-based plastics products in the manufacturing of automobiles also acts as a market driver
Stringent regulations regarding price-sensitiveness and carbon emissions boosts the demand for automotive plastics, which acts as a driver in the growth of the market
Read Complete Details with TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-automotive-plastics-market
Market Restraints:
Decline of automotive production in certain countries such as India, Russia, Morocco, and many others restricts the demand of automotive plastics
Less recyclability of certain types of plastic materials hampers the demand and thus affecting the growth of the market
Few plastic products are banned for usage this can be used only once, hinders the growth of the market
Key Developments in the Market:
In January 2019, Revere Plastics Systems LLC announced to acquire certain assets and operations of Sur-Flo Plastics & Engineering Inc. The acquisition will help the company to increase its manufacturing footprint to five locations, and will also help the company to become leader in the plastic injection molding industry
In June 2018, Viking Plastics acquired Genesis Plastics and Engineering, LLC, a manufacturer of plastic interior parts of automobiles. The acquisition of new facility helped the company to expand its customer base and manufacturing capability of new tools in the market
Competitive Analysis:
Global automotive plastics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive plastics for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global automotive plastics market are Magna International Inc., Lear Corporation, Adient plc, BASF SE, Borealis AG, Covestro AG, Evonik Industries AG, SABIC, Grupo Antolin, TOYOTA BOSHOKU CORPORATION, Faurecia, TOYODA GOSEI Co., Ltd., Sage Automotive Interiors, DSM, Dow, Momentive, TEIJIN LIMITED, Solvay, Akzo Nobel N.V., CNR Group, LLC, among others
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Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
About Data Bridge Market Research:
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