The global automotive plastics market is expected to reach an estimated $25.2 billion by 2023 and it is forecast to grow at a CAGR of 2.6% from 2018 to 2023
NEW YORK, July 30, 2018 /PRNewswire/ -- Trends, opportunities and forecast in automotive plastics market to 2023 by polymer (polypropylene, polyurethane, polyamide, PVC, ABS, polycarbonates, polyethylene, PMMA and other plastics), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), by application (interior, exterior, under the hood and electrical components), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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The future of the global automotive plastics market looks promising with opportunities in the passenger cars, light commercial vehicles, and heavy commercial vehicles. The global automotive plastics market is expected to reach an estimated $25.2 billion by 2023 and it is forecast to grow at a CAGR of 2.6% from 2018 to 2023. The major drivers of growth for this market are increasing demand for lightweight materials for OEMs to reduce vehicle weight in response to stringent government regulations on fuel economy. Other major driver includes growth of the global vehicle production which is expected to grow at a CAGR of 2.5% during the forecast period and to reach 113 million units by 2023.
Emerging trends, which have a direct impact on the dynamics of the automotive plastics industry, include development of recycling technologies for plastics and replacement of PA 66 with cheaper and advanced PA 6.
Automotive Plastics Market TrendsAutomotive Plastics Market Forecast Global Automotive Plastics Market by Region
The study includes the automotive plastics market size and forecast for the global automotive plastics market through 2023, segmented by polymer, vehicle type, application, and region, as follows:
Automotive Plastics Market by Polymer ($ Million and million pounds from 2012 to 2023)
Polypropylene Polyurethane Polyamide PVC ABS Polycarbonates Polyethylene PMMA Other Plastics
Automotive Plastics Market by Vehicle Type ($ Million and million pounds from 2012 to 2023)
Passenger Cars Light Commercial Vehicles Heavy Commercial Vehicles
Automotive Plastics Market by Application ($ Million and million pounds from 2012 to 2023)
Interior Exterior Under the Hood Electrical Components
Automotive Plastics Market by Application ($ Million and million pounds for 2017)
Interior Seating Dashboard Trims Others Exterior Bumpers Trims Lightings Fuel systems Others Under the Hood Air intake manifolds Engine covers Rocker covers Front end module Fuel lines Other components Electrical Components
Automotive Plastics Market by Region ($ Million and million pounds from 2012 to 2023)
North America US Canada Mexico Europe Germany France Russia United Kingdom Italy Asia Pacific China Japan India South Korea Indonesia The Rest of the World Brazil Turkey
Some of the automotive plastics companies profiled in this report include BASF, Lyondellbassell, Du Pont. Co, Borealis AG, Dow Chemicals, solvay, DSM, SABIC, EXXON Mobile and Arkema and others.
On the basis of its comprehensive research, Lucintel forecasts that the polypropylene, polyurethane, and polyamide segments will show above average growth during the forecast period.
Passenger car, light commercial vehicle, and heavy commercial vehicle are the major vehicle segments of the global automotive plastics market. The passenger car segment is expected to show above average growth during the forecast period due to increasing plastic content per vehicle in emerging applications like oil pans, wheel rims, and battery trays.
Europe is expected to remain the largest region due to increasing use of plastic content per vehicle coupled with stringent government regulations to reduce carbon emissions and to increase fuel efficiency.
Some of the features of "Global Automotive Plastics Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global automotive plastics market size estimation in terms of value ($M) and volume (Million Pounds) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Global automotive plastics market size by various applications such as polymer, vehicle, and application in terms of value and volume shipment.
Regional analysis: Global automotive plastics market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of automotive plastics in the automotive plastics market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of automotive plastics in the automotive plastics market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive plastics market by polymer (polypropylene, polyurethane, polyamide, PVC, ABS, polycarbonates, polyethylene, PMMA and other plastics), by vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles), by application (interior, exterior, under the hood and electrical components), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this automotive plastics market?
Q.5. What are the business risks and competitive threats in this automotive plastics market?
Q.6. What are the emerging trends in this automotive plastics market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the automotive plastics market?
Q.8. What are the new developments in the automotive plastics market? Which companies are leading these developments?
Q.9. Who are the major players in this automotive plastics market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this automotive plastics market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the automotive plastics industry?
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