Automotive Plastics Market to Grow at 10.9% CAGR to 2023- ReportsnReports
PUNE, India, October 4, 2018 /PRNewswire/ --
Key players operating in automotive plastics market for passenger cars. Companies such as Magna International Inc. (Canada), Lear Corporation (US), Adient plc (Ireland), BASF SE (Germany), and Compagnie Plastic Omnium (France) have adopted these strategies to strengthen their market presence and customer base as well as gain a competitive edge in the market.
The automotive plastics market for passenger cars is projected to grow from USD 28.20 billion in 2018 to USD 47.33 billion by 2023, at a CAGR of 10.9% during the forecast period. Increasing demand for lightweight materials for automotive components owing to stringent environmental and emission regulations is expected to drive the market for automotive plastics in passenger cars.
Read More 103 Market Data Tables and 38 Figures spread through 136 Pages and in-depth TOC on "Automotive Plastics Market for Passenger Cars by Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT), Application (Interior, Exterior, Under Bonnet), and Region - Global Forecast to 2023" Now at https://www.reportsnreports.com/reports/153556-automotive-plastics-market-for-passenger-cars-global-trends-forecasts-to-2016-by-types-geography.html .
Automotive plastics are used in automobiles for weight reduction, improving aesthetics, vibration &noise control, and cabin insulation. Various stringent regulations imposed on emissions may act as a huge opportunity for the automotive plastics market for passenger cars. Automotive plastics in the interior design of a passenger car serve various purposes. For instance, they make the automobile less bulky, thus reducing carbon emissions and improving fuel economy, and enhance the aesthetic appeal, thereby driving the automotive plastics market.
"The interior application segment is expected to lead the automotive plastics market for passenger cars during the forecast period, in terms of value"
The automotive plastics market for passenger cars has been studied for North America, Europe, Asia Pacific, South America, and the Middle East &Africa. The Asia Pacific region is expected to lead the automotive plastics market for passenger cars during the forecast period, owing to the increasing demand from emerging economies, such as China, India, and Thailand. Additionally, the presence of major automotive manufacturing companies and OEMs is expected to further contribute to the growth of the automotive plastics market for passenger cars in the region.
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The automotive plastics market for passenger cars on the basis of product type, application, and region. It provides estimations for the overall value of the automotive plastics market for passenger cars and its sub segments across various regions. A detailed analysis of key players operating in the automotive plastics market for passenger cars has been conducted to provide insights into their businesses, products & services offered, key growth strategies adopted, and recent developments undertaken by them, such as expansions, acquisitions, agreements, collaborations, and new product launches.
Target Audience:
- Automotive Plastics Manufacturers
- Chemical Suppliers
- Raw Material Suppliers
- OEMs
- Polymer Manufacturers
- Passenger Car Manufacturers
- Government and Research Organizations
- Plastic Traders, Distributors, and Suppliers
- Industry Associations
- Research and Consulting Firms
The automotive plastics market for passenger cars has been segmented on the basis of product type, application, and region. Among types, the polypropylene segment is expected to lead the market during the forecast period, in terms of value. The growth of this segment can be attributed to the low cost of polypropylene and its outstanding mechanical performance and moldability.
The use of plastics in the interior application is much higher than in other applications. Plastics are used in various interior components, such as instrument panels, door panels, and pillars, to achieve good surface finish as well as for aesthetic appeal and scratch resistance. The under bonnet application segment is, however, projected to grow at the highest CAGR during the forecast period, in terms of value.
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The automotive plastics market for passenger cars has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. 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 2023 owing to emerging industries in the region's developing economies, such China, India, and Thailand.
Breakdown of Primaries:
Primary interviews have been conducted with a number of industry experts to obtain information related to the automotive plastics market for passenger cars.
The breakdown of primary interviews has been depicted below:
- By Company Type: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
- By Designation: C-Level Executives- 21%, Directors- 23%, and Others - 56%
- By Region: Asia Pacific - 41%, North America - 30%, Europe - 18%, and RoW- 11%
Access More Reports on Plastics Category as Follows,
The 3D printing plastics market [https://www.reportsnreports.com/reports/1710943-3d-printing-plastics-market-by-type-photo-polymer-abs-poly-amide-pla-form-filament-liquid-ink-powder-end-use-industry-healthcare-aerospace-defense-automotive-electrical-electronics-application-st-to-2023.html ] is estimated at USD 615.8 million in 2018 and is projected to reach USD 1,965.3 million by 2023, at a CAGR of 26.1% between 2018 and 2023. Factors like an increase in supply with forward integration from major polymer companies' increase in demand from end-use industries for production activities. 3D printing plastics market has been segmented into photopolymer, ABS, PLA, polyamide, and others. Market is projected to be dominated by photopolymer segment, as photopolymer comprises most of polymer grades in resin form, available at discount now at https://www.reportsnreports.com/contacts/discount.aspx?name=1710943 .
The engineering plastics market [https://www.reportsnreports.com/reports/295176-engineering-plastics-market-by-type-acrylonitrile-butadiene-styrene-fluor-polymer-polyamide-polycarbonate-polyoxymethylene-thermoplastic-polyesters-and-others-applications-and-geography-trends-forecasts-2013-2018-.html ] is estimated at USD 80.70 billion in 2018 & is projected to reach USD 115.10 billion by 2023, at a CAGR of 7.2% from 2018 to 2023. Engineering plastics are lighter & more durable than conventional materials such as glass and metals. The APAC region is estimated to be largest & fastest-growing market for engineering plastics. The high growth rate of the market in region is due to increasing demand from the countries such as China, Japan, and India, available at discount at https://www.reportsnreports.com/contacts/discount.aspx?name=295176 .
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