Automotive Plastics Market statistics and research analysis released in latest report

1
Automotive Plastics Market share by applications
and regions for 2017- 2024
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Global Market Scenario of Automotive Plastic
Industry

• Automotive Plastics Market is set to surpass USD
  50 billion by 2024 according to a new research
  report by Global Market Insights, Inc.
• Rising passenger cars production along with
  consumer demand for fuel efficient, durable and
  light weight vehicles should stimulate automotive
  plastics industry demand. Rapid industrialization
  and urbanization in India, Japan, and China will
  propel the demand for commercial vehicles, SUVs,
  modern cars and HMVs. Rising per capita income
  and improving living standards will create demand
  for stylish and high aesthetics cars thereby
  stimulating industry growth.
• Automotive plastics are preferably used in
  various auto bodies and parts including chassis,
  power train, electronic components under the
  hood, exterior and interior furnishings and fuel
  systems. It is durable, scratch resistant,
  abrasion resistance, allows effective design
  molding, component integration and improves
  vibration and noise control in automobiles.
  Expanding manufacturing hubs along with
  government spending for advanced technology may
  contributes towards automotive plastics industry
  growth.

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• North America automotive plastics market size,
  with steady gains in the U.S. and Canada is
  poised to exceed USD 5 billion up to 2024 owing
  to rise in consumer preferences for lightweight
  and fuel-efficient vehicles. Rising OEM
  manufacturers demand towards reducing vehicle
  weight and providing cost effective solutions may
  have a positive influence on the regional growth.
  Stringent government standards and rules by CAFÉ
  regarding CO2 emission and fuel economy has
  resulted in OEMs to search for other methods to
  reduce vehicular weight to improve fuel
  efficiency.
• Major raw materials, PU, ABS, PMMA, PVC, and PP
  are used in the manufacturing process of
  automotive plastics. Lack of standardization of
  plastic materials along with sustainability
  issues will be a major challenge and may impact
  industry growth.
• PVC based automotive plastics market demand is
  likely to surpass USD 1.9 billion during the
  foreseeable timeframe. These are mainly used in
  underbody coatings, sealants, door panels
  seating, dashboard, arm rest, window sealing
  profiles, weather strips, and body side
  protection. Increasing environmental concerns
  regarding carbon emission coupled with rising
  consumer awareness regarding safety and reducing
  accidental injuries may act as a contributing
  factor for industry growth.

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360 Industry Analysis

• Germany automotive plastics market demand is
  likely to register gains close to 8.5 during the
  forecast timeframe. Growth in automobile industry
  and presence of major industry giants along with
  high innovations and strategies will enhance
  product demand in the region. Increasing pressure
  on automobile manufacturers to reduce GHG
  emission to comply with EU standards coupled with
  high investments in research will drive regional
  industry growth.
• India automotive plastics market size from
  electrical components application may expect
  consumption at over 380 kilo tons up to 2024 due
  to swift increase in passenger vehicle production
  and consumer willingness to spend on stylish
  cars. It finds wide application scope in battery,
  and switches owing to high strength, low
  friction, and natural smooth finish. Indian
  government encourages FDI in the automobile
  sector and plans to invest in eco-friendly cars
  in the future, thereby promoting automotive
  plastics market growth.

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• UK Automotive Plastics Market demand from
  polypropylene (PP) may register substantial
  growth at about 9 during the projected period.
  The product has wide usage in cable insulation,
  petrol cans, indoor outdoor carpets, battery
  box, and bumpers. PP is about 15 to 20 lighter
  than other materials which is beneficial in
  automobile weight, thereby resulting in less CO2
  emission and low fuel consumption.
• Competitive Analysis
• BASF, Delphi, Celanese, DSM, Evonik, SABIC, RTP,
  Lear Corporation, Borealis AG, Adient and
  Covestro are the prominent industry participants
  in the automotive plastics market. Companies are
  focusing towards investing in RD activities to
  comply with government standards and enhancing
  their product portfolio by forming joint ventures
  and partnerships.

Regional Analysis
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Latest Research Report On Automotive Plastics
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