Title: Automotive Plastics Market statistics and research analysis released in latest report
1Automotive Plastics Market share by applications
and regions for 2017- 2024
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2Global 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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3Continue-
- 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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5360 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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6- 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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7 Latest Research Report On Automotive Plastics
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