Automotive Plastics Market is Expected to Grow at 10.5% During 2021-2026
Automotive Plastics Market is expected to grow at a CAGR of 10.5% during 2021-2026, reports Stratview Research
RAIPUR, India, Feb. 10, 2022 /PRNewswire/ -- Stratview Research, a leading market research firm has launched a report on the Automotive Plastics Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Automotive Plastics market is driven by a host of factors, some of which are noted below:
- The growing demand for automotive plastics is majorly because of their lightweight property that significantly helps in the weight-reduction of vehicles and enables them to achieve better fuel efficiency.
- Stringent emission norms being introduced by different countries.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Automotive Plastics Market Segmentation:
Stratview Research has segmented the market in the following 3 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Product Type (Polypropylene, Polyurethane, Polyvinyl Chloride, ABS, Polyamide, HDPE, Polycarbonate, PBT, and Others)
- Application Type (Interior, Exterior, and Under Bonnet)
- Region (North America, Europe, Asia-Pacific, and Rest of the World)
Automotive Plastics Market Insights
Market Trends by Product Type
Based on the product type, the market is segmented as polypropylene, polyurethane, polyvinyl chloride, ABS, polyamide, HDPE, polycarbonate, PBT, and others. The polypropylene segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period, owing to its excellent mechanical properties such as design flexibility, lightweight, and its low cost. On the other hand, the polyamide segment is expected to grow at the fastest rate in the next five years.
Market Trends by Application Type
Based on the application type, the automotive plastics market for passenger cars is segmented as interior, exterior, and under bonnet. The interior segment is estimated to be the largest segment of the market, owing to its ability to possess scratch resistance and offer aesthetics and good surface finish. Its use in various interior components, such as door panels & consoles, interior lighting, and instrument panels is driving the growth of the segment during the forecast period.
Which region offers the best opportunity and growth?
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing automotive plastics market for passenger cars during the forecast period, with China, Thailand, and India being the major countries as the growth engines. The market is driven by the increasing per-capita income of individuals in the region, leading to rise in demand for passenger cars, which in turn, is driving the automotive plastics market for passenger cars in the Asia-Pacific region.
COVID-19 Impact on the Automotive Plastics Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed few key players and discussed company profiles of the below-given players -
- Magna International Inc.
- Lear Corporation
- Adient PLC
- BASF SE
- Compagnie Plastic Omnium
What deliverables will you get in this report?
- In-depth analysis of the Automotive Plastics Market.
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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About us
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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