Automotive Plastics Market trends for 2015 & industry forecast to 2022
Global Market Insights has a new study based report titled " Automotive Plastics Market Size By Application (Electrical Components, Power Train, Under the Hood, Chassis, Interior & Exterior Furnishings), By Product (Polyurethane, PVC, Polyethylene, Polypropylene, ABS, Polycarbonate, Polyamide, PMMA), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015 – 2022".
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Versatile, lightweight plastic material offers superior designs and excellent resistance to weather conditions. This has increased the demand of this compound, as the most accepted form of design material in the automotive industry. Strict government regulations about vehicle emission control have resulted in implementation of lightweight plastics as substitutes for steel or aluminum metals.
The increasing trend of lightweight vehicles to enhance fuel efficiency and increasing prices of metals is likely to further the growth. Factors like increasing investments in material research of plastic substitutes and higher material cost, non biodegradability of synthetic polymers, environmental concerns with regards to carbon emissions, etc. are predicted to hinder the market growth.
The Automotive Plastics Market Report Consists of,
1. Methodology and Scope
2. Executive Summary
3. Automotive Plastics Market Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
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3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends
4. Automotive Plastics Market Product Insights
Hardware utilizes almost 13 types of plastics in a single vehicle; however, just three types make up more than 50% of the industry. These three include polypropylene (PP), polyurethane (PU) and Acrylonitrile butadiene styrene (ABS). Polyurethane (PU) market accounted for more than 18% of the 2015 automotive plastics market size, and will grow at CAGR over 14% during the forecast timeframe.
5. Automotive Plastics Market Application Insights
Electrical component applications accounted for more than 34% of the global automotive plastics market. On the other side, interior and exterior applications exceeded 30% of the total demand for 2015, and will witness double digit CAGR during the forecast timeframe.
Power trains will be the fastest growing automotive plastics market application with CAGR of over 15% during the forecast timeframe. Powertrain is one of the most complicated part of car. It refers to a system of bearings shafts and gears that transfers the engines power to the axle. Plastic helps in reducing the quantity of parts required to assemble these components.
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6. Automotive Plastics Market Regional Insights
Latin America automotive plastics market will be the fastest growing region and will witness CAGR exceeding 10% during the forecast timeframe. This market will mainly be driven by Mexico which can be attributed to Mexico’s expanding automotive manufacturing industry. It is amongst the top countries in terms of manufacturing and exports.
LATAM will be followed by Asia pacific and Europe in terms of regional automotive plastics market growth rate. However, Asia pacific was ranked highest amongst the sale of automobiles globally, followed by Central & South America in 2015.
Major exporting countries of 2015 included Germany, U.S, Japan and China. These top four exporting countries accounted for more than 40% of global auto part exports in 2015. Fastest growing plastic automotive parts exporters were Mexico, Thailand, China and Hungary.
7. Competitor Profiles
Prominent automotive plastics market players in this industry include Dow chemical, Evonik Industries, AknoNobel N.V., Delphi automotive, Momentive Performance Materials, and Johnson control. Other major companies in automotive plastics market include Borealis AG, GroupoAntolin Irausa SA, Lear corp, Hanwha Azdel, Owens corning, SABIC, and DSM.
About Global Market Insights, Inc.:
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.
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