Global Automotive Plastics Market to reach USD 58.3 billion by 2025.
Global Automotive Plastics Market valued approximately USD 25.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 11 % over the forecast period 2018-2025. The shift in trend towards high performance plastics to substitute conventional metals & rubber is expected to drive demand. The quality of plastics is highly dependent upon their properties, functions and applications. Superior properties such as light weight, versatility and flexibility has fostered technological innovations and design freedom using plastic materials. Streamlined mass production has enabled provision of technologically sound and cost-efficient products with high sustainability. Utilization of polymer matrix and carbon fiber composites are expected to enable car body-weight reductions of 25% to 75%. They contribute to lower vehicle weight, essential for emission reduction and fuel conservation while supporting the additional weight of advanced safety equipment. In automotive Plastics Market Significant investments in R&D activities to develop new plastic components and highly fragmented market with the presence of a large number of market players make the intensity of competition in the market very high. Fluctuating prices of raw materials adversely impact the overall cost of production incurred by the manufacturers of automotive plastics. High capital costs incurred in the deployment of automotive plastics in existing metallic applications restrict the adoption of automotive plastics in new vehicle designs.
The regional analysis of Global Automotive Plastics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World Asia Pacific is estimated to be the largest market for automotive plastics in 2018, and the region is also expected to continue leading the market till 2025 owing to emerging industries in the region’s developing economies, such China, India, and Thailand. Rising per capita disposable income, preferences for a nuclear family, and growing trend towards the use of small cars fuel the demand for passenger cars in the region, which subsequently impact the automotive plastics market
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
High Density Polyethylene
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Magna International Inc. LLC, Lear Corporation, Adient PLC, BASF SE, Borealis AG, Covestro AG, Evonik Industries AG, Royal Dsm Nv, Teijin Limited, Solvay Sa and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Automotive Plastics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers