The global Automotive Plastics Market is
expected to reach USD 68.5 billion by 2025, according to a new report
by Grand View Research, Inc. The shift in trend towards high performance
plastics to substitute conventional metals & rubber is expected to
drive demand.
The
quality of plastics is highly dependent upon their properties,
functions and applications. Superior properties such as light weight,
versatility and flexibility has fostered technological innovations and
design freedom using plastic materials. Streamlined mass production has
enabled provision of technologically sound and cost-efficient products
with high sustainability.
Utilization
of polymer matrix and carbon fiber composites are expected to enable
car body-weight reductions of 25% to 75%. They contribute to lower
vehicle weight, essential for emission reduction and fuel conservation
while supporting the additional weight of advanced safety equipment.
Stringent
regulations such as the Corporate Average Fuel Economy (CAFE) in North
America have compelled automobile OEMs to seek alternative methods of
vehicular weight reduction in order to improve efficiency. Light weight
is likely to remain a crucial factor for complying with such
regulations, owing to the inherent correlation between mass and fuel
consumption.
Polycarbonate
(PC) is expected to emerge as the fastest-growing product with an
estimated CAGR of around 9.7% from 2017 to 2025. Polycarbonate offers
excellent properties include weathering, optical, thermal and
electrical. It also provides a unique combination of stiffness,
toughness, and hardness.
To Request for Sample Copy of this report: http://www.grandviewresearch.com/industry-analysis/automotive-plastics-market
Further key findings from the report suggest:
- Global automotive plastics demand was estimated at over 10 million tons in 2015 and is expected to grow at a CAGR of 9.0% from 2017 to 2025
- Powertrains are expected to emerge as the fastest-growing application to exceed revenue of about USD 950 million by 2025. Powertrain engineering applications assist vehicle manufacturers to reduce weight & integrate complex parts, which ultimately delivers higher productivity, boosts performance, and cost savings.
- Asia Pacific is projected to witness substantial growth over the next decade owing to expanding regional manufacturing base and increasing investments in advanced processing technologies. The market is expected to grow at a CAGR of 12.2% from 2017 to 2025.
- Major participants include AkzoNobel N.V, BASF SE, Covestro, Evonik Industries AG, Johnson Controls, Magna International, Momentive Performance Materials Inc., SABIC, The Dow Chemical Company, Borealis AG, Hanwha Azdel Inc., Grupo Antolin, Lear Corp., Owens Corning, Quadrant AG, Royal DSM N.V, and Teijin Ltd among others.
- BASF SE recently announced a price increase by of about 10% for a majority of its plastic additive products, such as antioxidants, light stabilizers, flame retardants, and others.
Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals
Grand View Research has segmented the global automotive plastics market on the basis of product, application, and region:
Automotive Plastics Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Acrylonitrile butadiene styrene (ABS)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polycarbonate (PC)
- Polymethyl methacrylate (PMMA)
- Polyamide (PA)
- Others
Automotive Plastics Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Powertrains
- PE
- PP
- PVC
- PU
- ABS
- PC
- PA
- Others
- Electrical Components
- PA
- PP
- PMMA
- ABS
- PVC
- Others
- Interior Furnishings
- PU
- PP
- PMMA
- ABS
- PVC
- PE
- PA
- Others
- Exterior Furnishings
- PP
- ABS
- PVC
- PU
- PA
- Others
- Under the Hood Components
- PE
- PP
- PA
- ABS
- PU
- Others
- Chassis
- PE
- PP
- ABS
- PA
- PU
- Others
Automotive Plastics Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- North America
- US.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
Access Press Release of this Report: http://www.grandviewresearch.com/press-release/global-automotive-plastics-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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