Automotive Plastics Market 2018-2024 Key Players BASF, Delphi, Evonik, Johnson Control, SABIC, Celanese & Lear Corp.
SELBYVILLE, Del., July 19, 2018 /PRNewswire-iReach/ -- 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 automotive plastics market 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.
World Automotive Plastics Market size is set to surpass USD 50 billion by 2024. 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, SUV's, modern cars and HMV's. Rising per capita income and improving living standards will create demand for stylish and high aesthetics cars thereby stimulating industry growth.
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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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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.
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 R&D activities to comply with government standards and enhancing their product portfolio by forming joint ventures and partnerships.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Automotive plastics industry 3600 synopsis, 2017 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
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Chapter 3 Automotive Plastics Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.3.2.1 Collaboration/Partnership
3.3.2.2 Technology provider
3.3.2.3 Service Providers
3.4 Regulatory landscape
3.4.1 U.S.
3.4.2 Europe
3.4.3 China
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 North America: Increasing demand for lightweight automobiles to obtain better fuel efficiency
3.5.1.2 Improving vehicle aesthetics
3.5.1.3 Middle East: Abundant availability of raw materials
3.5.1.4 Asia Pacific: Increasing demand for passenger vehicles
3.5.1.5 Europe: Reduction in vehicles material cost
3.5.2 Industry pitfalls & challenges
3.5.2.1 Lack of standardization of plastic materials
3.5.2.2 Growing environmental concerns
3.6 Company market share analysis, 2016
3.6.1 Strategy dashboard
3.7 Growth potential analysis, 2016
3.7.1 Emerging business models
3.7.1.1 Product Launch
3.7.1.1 Acquisitions
3.7.1.1 Joint Ventures
3.8 Porter's analysis
3.9 Raw material analysis
3.9.1 Polyurethane (PU)
3.9.2 Propylene/polypropylene
3.9.3 ABS
3.9.4 PMMA
3.10 PESTEL analysis
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