Automotive Plastics Market By Product (ABS, PP, PU, PVC, PE, PC, PMMA, PA), By Application (Power Trains, Under the Hood, Electrical Components, Chassis, Furnishing), Bio-based Opportunity (PLA, PHA, PCL, PBS) - Global Industry Analysis, Size 2018
Albany, New York (PRWEB) August 08, 2013
A New York research firm Transparency Market Research estimates that the global automotive plastics market could reach $32.9 billion by the end of 2018, up from $15.1 billion in 2012.
Transparency Market Research of Albany said in its new report that the demand for growth will come from both expanding auto production in Asia and plastics use in existing markets to decrease vehicle weight.
In 2011, the Asia Pacific region was responsible for 50 percent of the total auto plastics consumption by volume, the research company said in a March 28 press release. With demand for new cars in developing regions only expected to increase, demand for auto plastics will also build.
Related Report : Petrochemicals Market
Polypropylene is the most widely used plastic in the auto industry, the research group said, and is likely to remain at the top of the list through 2018.
Polyurethane, ABS, PVC and polyethylene round out the top five.
Electronics, interior and exterior trim account for almost 70 percent of all plastics used in the auto industry, although new developments for under-the-hood parts are likely to drive more interest in the future.
This report by Transparency Market Research analyzes the automotive plastics market from a global perspective and endeavors to portray a detailed and comprehensive collection of data and its analysis on the basis of various market parameters. The report also strives to compile together a macro-view of the complete demand and supply characteristics of automotive plastics by providing historical data from 2009 and a forecast of market segmentation until 2018 along with detailed analyses of revenues and volumes. Plastics find major applications in electrical components and interior and exterior furnishings of automobiles.
Related Report : Formaldehyde Market
The majority of the application market for automotive plastics is under the purview of these two application segments accounting for almost 70% of the total consumption. Plastics are also used in other parts in automobiles such as power trains, under the hood and chassis. The market for these applications is expected to show growth over the forecast period. Polypropylene (PP) has been the most widely used plastic in automobiles in recent years and is expected to hold sway for the entirety of the forecast period till 2018. Polyurethane (PU), acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC) and polyethylene (PE) are the other major plastic materials that have been in great demand in automobile manufacturing.
Polycarbonate (PC), polymethyl methacrylate (PMMA), polyamides (PA) such as nylons and other plastics including polyoxymethylene (POM) and polyethylene terephthalate (PET) are also in great demand in various automotive applications. Biodegradable plastics are a more environment friendly option to plastics sourced from crude oil and derivatives. After a certain time period these plastics begin their degradation process and are easy to dispose without causing adverse effects on the environment.
Browse full report with TOC : http://www.transparencymarketresearch.com/automotive-plastics-market.html .
Starch based and polylactic acid (PLA) based biodegradable plastics have been the most common materials used in the automotive industry. Newer biodegradable plastics such as PHA, PCL and PBS are being used in small quantities for automotive applications. Biodegradable plastics have been analyzed separately as a potential opportunity, the estimates for these plastics have not been included in the overall market estimate and have been provided separately.
Traditionally, although North America and Europe have been the biggest markets for plastics in automobiles, Asia Pacific has been the largest consumer of automotive plastics in recent years. This can be attributed to the tremendous growth in the automotive industry in the region and the huge and apparent never-ending demand for automobiles in many economies of Asia Pacific. Europe has been the second largest market for automotive plastics followed by North America and Rest of the World (RoW).
Browse All Market Research Reports: http://www.transparencymarketresearch.com/.