Automotive Plastics Market to see 11%+ CAGR to 2024| Delphi, Evonik, SABIC, Solvay, DSM, Adient, Lear Corporation, The Dow Chemical Company and 13 other Players Profiled
According to new growth analysis report by Global Market Insights, Inc., automotive plastics market share in power train applications segment is expected to grow at 10%+ CAGR over2018-2024 which includes engine, driveshaft, gears, transmission, bearings and every component which stimulates engine's power into movement.
SELBYVILLE, Del., Oct. 15, 2018 /PRNewswire-PRWeb/ -- Germany automotive plastics market demand is forecast to achieve 8.5% growth during the forecast timeframe. Growth in automobile industry and presence of major industry giants along with high innovations and strategies will enhance product 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.
Global automotive plastics market size is set to surpass USD 50 billion by 2024. 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.
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UK automotive plastics market demand from polypropylene (PP) may register substantial growth at about 9% during the projected period. The product has wide usage in cable insulation, petrol cans, indoor & outdoor carpets, battery box, and bumpers. PP is about 15% to 20% lighter than other materials which is beneficial in automobile weight, thereby resulting in less CO2 emission and low fuel consumption.
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.
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.
Browse key Automotive Plastics Market insights from the 2017 report spread across 310 pages offering 345 market data tables as well as 53 figures & charts along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-plastics-market
PMMA based automotive plastics segment will hit US$1.3 billion by 2024 owing to rising usage in various interior and exterior panels, molded parts, trims, number plates along with application in windows, screens and displays. Increasing sustainable polymer demand owing to rising environmental concerns for plastic waste accompanied with stringent government norms may promote product demand.
Polyurethane (PU) based automotive plastics industry demand may register gains at over 10% owing to lightweight and excellent durability, increased fuel economy, corrosion resistance, insulation and sound absorption properties.
Acrylonitrile butadiene styrene based automotive plastics market size is witness significant growth at over 9.5% during the forecast timeframe.
Top key players mentioned in this automotive plastics market report include Delphi, Evonik, SABIC, Solvay, The Dow Chemical Company, Adient, Covestro, Borealis, Celanese, DSM, Grupo Antolin, HANWHA AZDEL, Inc., Lear Corporation, LG Chem, Owens Corning, Quadrant, RTP Company, Teijin, Toyoda Gosei Americas, S & E Specialty Polymers and SRF Limited.
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Browse Related Reports:
1. Plating on Plastics (POP) Market Size By Finish (Chrome [Cu, Ni & Cr]), By Plastic (ABS, PC, PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, Poland, China, India, Japan, Thailand, Malaysia, South Korea, Indonesia, Australia, Brazil, Argentina, Morocco, Egypt, Iran, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Plating on Plastics Market size was valued at over US$450 million in 2017 and industry expects consumption of above 150 million square meters by 2024. Read more at
https://www.gminsights.com/industry-analysis/plating-on-plastics-POP-market
2. Acrylonitrile Butadiene Styrene (ABS) Market Size By Application (Electrical and Electronics, Appliances, Automotive, Construction, Consumer Goods), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, Taiwan, South Korea, Indonesia, Thailand, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Acrylonitrile Butadiene Styrene (ABS) Market size generated over USD 22.3 billion for 2015 and will witness over 6.0% CAGR. Read more at
https://www.gminsights.com/industry-analysis/acrylonitrile-butadiene-styrene-ABS-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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