Automotive Plastic market is expected to grow at ~12.6% CAGR

Key Players:
Key players of the Global Automotive Plastic Market are BASF SE (Europe), Akzo Nobel N.V. (Europe), Evonik Industries (Europe), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), DSM Company (Europe), Teijin limited (Japan), The Dow Chemical Company (US), E. I. du Pont de Nemours and Company (US), LyondellBasell Industries N.V. (US), Quadrant group of companies (Japan), and Others.

Segment Analysis:
The Global Automotive Plastic Market has been segmented into types and application industries. On the basis of types, the market has been divided into polypropylene, polyurethane, acrylonitrile-butadiene-styrene, polyamide, polymethyl methacrylate, polycarbonate, and others (Polyvinyl Chloride, Polyethylene). Among these types, polypropylene and polyurethane automotive plastic have cover the largest market followed by acrylonitrile-butadiene-styrene, polyamide, polymethyl methacrylate, polycarbonate, and others. Among all polypropylene is highly demand automotive plastic types due to its features such as extremely UV, chemically resistant. It has various application in automotive industry such as automotive bumpers, cable insulation, battery boxes, bottles, petrol cans, chemical tanks, carpet fibers. Other benefits offered by plastic auto parts include minimal corrosion allowing for longer vehicle life, flexibility in designing and integrating components along with easy recyclability of product; which will stimulate Automotive Plastics Market demand.

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Furthermore, on the basis of application the market has been segmented into interiors body, under bonnet, exterior body, and electrical components particularly in automotive industry. Among all applications Automotive Plastic is highly used for electrical parts, exterior and interior applications. Exterior designs of the automobiles are the causes of innovative changes owing to the application of Automotive Plastic. The automobile manufacturing company can construct more innovative design through automotive plastics rather than steel and other metals with lower manufacturing costs, which is the major driving factor of Global Automotive Plastic Market.

Regional Analysis:
The Global Automotive Plastic Market is categorized on the basis of miscellaneous geographic segmentation which contains regions such as North America, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific automotive plastic market is largest market owing to healthy industry growth of application industry in China, Japan and India. Asia Pacific Automotive Plastic Market size is likely to witness highest gains over the forecast period.
Increasing demand for automotive industry in the China, India, Taiwan, and South Korea has made Asia Pacific largest consumer of the automotive plastic market. China is major dominating country owing to large scale production of end user industry of automobile. Asia Pacific region dominates the Global Automotive Plastic Market as it accounted for more than 55% of the global auto plastic demand in 2016. Also, growing automobile manufacture in the developing markets such as India, China, and developed economy like Japan in the APAC region is Predicted key driving factors for increasing Automotive Plastic demand worldwide. Additionally increasing secondary market of the automotive industry in South Asia and Latin America is also affect the demand for automotive plastics in APAC region.

The second largest market of Automotive Plastic is Europe region including the countries Germany, Italy, and France due to various automobile application such as safety feature Airbags, made from high-strength nylon or reinforced polyamide fibers, cushion impact in the event of frontal collisions are another safety feature, which reduces injuries. In addition, headlights made from plastics can be moulded into any imaginable shape, which allows lamps to adapt to differing light conditions, thereby increasing visibility.

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The third largest market of Automotive Plastic is North America, witnessed in growth of automotive plastic market due to various application such as interiors body, under bonnet, exterior body, and electrical components. Expansion in manufacture in various region of automobiles by major key players will boost automotive plastics market demand. Investment for auto manufacturing key players in Mexico are growing and will result in almost 55% increase in automobile production during the next year. Latin America and Middle East also witnessed in growth of automotive plastic market due to growing of automobile industry.

Key Points from Table of Contents:

11. Company Profiles

11.1 BASF SE
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Updates
11.1.4 Key Developments

11.2 Akzo Nobel N.V.
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.2.4 Key Developments

11.3 Evonik Industries
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.3.4 Key Developments

11.4 Saudi Basic Industries Corporation
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.4.4 Key Developments

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