Automotive Plastics Market 2019 Industry, Analysis, Share, Growth, Trends, Supply Forecast to 2023

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Automotive Plastics Market Research Report -
Forecast to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Automotive Plastics Market Research Report-
Forecast to 2023
Automotive Plastics Market - Overview
The latest report published Market Research
Future (MRFR) reveals that the Global Automotive
Plastics Market will witness a CAGR of 10.45
from 2018 to 2023 and reach a valuation of over
USD 43,560 Mn. There is a tremendous upsurge in
use of plastic in the automotive sector. Today,
plastics are used in manufacturing a wide-range
of automotive components. Use of plastics has
also increased in automotive manufacturing owing
to changing functional requirements. They are
enabling carmakers to develop solutions that
ensure future sustainability. Increased demand
for fuel efficient vehicles is a key factor
supporting the growth of the Global Automotive
Plastics Market. There is a shift in preference
of consumers, more and more car buyers are now
inclining towards vehicles that not only offers
high performance but also fuel efficiency. Global
sales of passenger and commercial vehicles have
escalated over the years. Rising demand in
emerging markets has opened new avenues for
vehicle manufacturers. This has led to an
increased automotive production, which is
providing an impetus to the market. At the same
time, increased focus of raw material innovation
has resulted in development of efficient and
sustainable plastics such as bioplastics. Despite
such favorable business condition, challenges
remain formidable for market players. Foremost
threat being the fluctuation in the raw material
prices. Furthermore, recycling of automotive
plastic components poses a significant threat to
raw material suppliers.
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Automotive Plastics Market Research Report-
Forecast to 2023
Segmental Analysis
MRFRs report also include a comprehensive
segmental analysis of the market based on Type,
Application and Region. By Type, the market has
been segmented into polyurethane, polyamide,
acrylonitrile-butadiene-styrene (ABS), polymethyl
methacrylate, polypropylene, polycarbonate, PVC
and others. The polypropylene segment currently
accounts for more than one-third share of the
market in terms of value and is projected to
capture a CAGR of 10.11 during the assessment
period. This primarily owing to the high
durability of polypropylene as compared to other
plastic variants. Moreover, it is a low-cost
material with widespread availability. The
polyamide segment is also expected to witness a
healthy growth during the review period.
Polyamide is witnessing a rapid adoption in the
automotive sector owing to its favorable
characteristics. By Application, the market is
segmented into instruments panel, powertrain,
interior, under the hood, exterior, electronics,
drivetrain and others. In 2017, the interior
segment accounted for the dominant position in
the market in terms of value. The segment is
expected to reach a market valuation of over USD
17,200 Mn by the year 2023, reflecting a
double-digit CAGR. Development of new-age
automotive interior design, focusing on safety,
comfort and spaces has led to an increased use of
plastics. PET, ABS, PP, PVC are the most common
types of plastics used for manufacturing vehicle
interiors such as rims, instrument panels, dash
and door panels, durable upholstery, lightweight
seats, safety systems, sound control fabrics,
among others. Browse Complete Report Summary _at_
https//www.marketresearchfuture.com/reports/autom
otive-plastics-market-2954


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Automotive Plastics Market Research Report-
Forecast to 2023
Regional Outlook
The regions covered in the report include North
America, Europe, the Middle East Africa (MEA),
Asia Pacific and Latin America. Asia Pacific will
continue to dominate the global automotive
plastics market over the next couple of years.
The market in APAC is projected to post a robust
CAGR of 11.07 during the forecast period.
Presence of a massive automotive manufacturing
sector puts the region at an advantageous
position. Emerging economies in the region are
expected to play an important role in propelling
the market forward in APAC. The rising number of
vehicle buyers in countries such as China and
India is paving the way for the automotive
industry. Factors such as rampant industrial
growth and rising per capita income can be linked
with the exponential growth of the automotive
sector in APAC.
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Automotive Plastics Market Research Report-
Forecast to 2023
Major Players in this Research

• Automotive Plastics Market Prominent Players
• TEIJIN LIMITED
• Evonik Industries AG
• LyondellBasell Industries Holdings BV
• DowDuPont
• Covestro AG
• BASF SE
• Mitsubishi Chemical Corporation
• LANXESS
• SABIC
• Koninklijke DSM NV

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