Global Automotive Plastics Market | Advanced Tech & Growth Opportunities In Global Industry By 2027

Market Definition: Global Automotive Plastics Market

The polymeric materials that have capability of being shaped or molded by applying high pressure and temperature are used to make parts of automobiles. The plastics have properties of low electrical conductivity, low density, high toughness and transparency. Various thermoplastics and thermosets are molded and remolded to be utilized in automotive industry. The commonly used materials include polypropylene and polyethylene.
Market Drivers:
  • Rising automotive industry boosts the demand for plastic materials, which acts as a driver for the growth of the market
  • Plastics reduce the overall weight without affecting the safety or performance of the vehicle, which acts as a driver for the market
  • Growth of bio-based plastics products in the manufacturing of automobiles also acts as  a market driver
  • Stringent regulations regarding price-sensitiveness and carbon emissions boosts the demand for automotive plastics, which acts as a driver in the growth of the market
Market Restraints:
  • Decline of automotive production in certain countries such as India, Russia, Morocco, and many others restricts the demand of automotive plastics
  • Less recyclability of certain types of plastic materials hampers the demand and thus affecting the growth of the market
  • Few plastic products are banned for usage this can be used only once, hinders the growth of the market.

Market Analysis: Global Automotive Plastics Market

Global automotive plastics market is expected to register a healthy CAGR of 11.2% in the forecast period of 2020-2027. This report contains the data of base year 2019 and historic year of 2018.  This rise in market value can be attributed to the technological advancements in the electric vehicles.
Key Developments in the Market:
  • In January 2019, Revere Plastics Systems LLC announced to acquire certain assets and operations of Sur-Flo Plastics & Engineering Inc. The acquisition will help the company to increase its manufacturing footprint to five locations, and will also help the company to become leader in the plastic injection molding industry
  • In June 2018, Viking Plastics acquired Genesis Plastics and Engineering, LLC, a manufacturer of plastic interior parts of automobiles. The acquisition of new facility helped the company to expand its customer base and manufacturing capability of new tools in the market.
 
Competitive Analysis:
Global automotive plastics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive plastics for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in global automotive plastics market are Magna International Inc., Lear Corporation, Adient plc, BASF SE, Borealis AG, Covestro AG, Evonik Industries AG, SABIC, Grupo Antolin, TOYOTA BOSHOKU CORPORATION, Faurecia, TOYODA GOSEI Co., Ltd., Sage Automotive Interiors, DSM, Dow, Momentive, TEIJIN LIMITED, Solvay, Akzo Nobel N.V., CNR Group, LLC, among others.

Segmentation: Global Automotive Plastics Market

By Product Type
By Application
By Geography

Research Methodology: Global Automotive Plastics Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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