Automotive Plastics Market NextGen Technological Advancements, Professional Survey & Industry Trends - 2022

In 2012, the global automotive plastics market was valued around USD 14.90 billion and is anticipated to reach approximately USD 46.09 billion by 2022, while maintaining a compound annual growth rate (CAGR) of 10.70% during the forecast period owing to global resurgence in the automobile segment, enhanced vehicle design and the rising significance of emission control and weight reduction are major factors fueling the growth of the global market. Plastics are extensively used in automotive parts and components due to their potential sourcing from reusable raw materials, relative ease of improved design and easiness of manufacturing. PU, PC, and ABS are a few alternative materials utilized for component and part applications of the vehicle. Generally, depending on performance requirements and fuel economy standards, an average car contains around 5.8% to 10% of plastics. This proportion is anticipated to augment during the approaching years, due to the increasing demand from customers for fuel-efficient, high-performance, and lightweight vehicles. Weight decline also extends a lucrative way to trim down fuel consumption and greenhouse gases emission. The polymerization of plastic monomers using catalysts in chemical reactions to create co-polymers and polymers and are twisted into polyethylene, polypropylene, polyvinyl chloride, polystyrene, polycarbonate and other polymerized plastic monomers.

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These materials hold extremely enhanced properties more than their individual monomers and are tremendously stable for utilizing in fabrication and molding. Designing an automotive is a vital factor as it is related to a variety of exterior forces and also the chance of major impacts. To protect the vehicle’s structural integrity, the materials used in its construction then turn into vital factors for stability and safety. Even though they are comparatively less costly, their manufacturing equipment and design parameters are extremely expensive, which is anticipated to present a challenge for market players.

Market Classification

Automotive Plastics Market, By Product, Estimates and Forecast, 2012-2022 ($Million)

Polypropylene
Polyurethanes
Polyvinyl Chloride
ABS
HDPE
Polycarbonates
PMMA
Polyamide
PET

Automotive Plastics Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
Interior
Exterior
Under bonnet

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

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Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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